Turkcell: 2Q net income jumps 56%

7 Aug 2008

Turkish cellco Turkcell has posted a 56% rise in net profit to USD426.4 million in the second quarter ended 30 June 2008, compared to the same period of 2007. Revenues rose 16.7% to USD1.76 billion, while earnings before interest, tax, depreciation and amortization (EBITDA) rose 7.4% to USD641 million. ‘During the second quarter, we continued operating in a difficult environment. This can be attributed to the weakening global macro environment, uncertainties in the local market as well as growing competition,’ Chief Executive Sureyya Ciliv said. Turkcell’s subscriber base grew by 4.7% year-on-year to 35.4 million, of which 6.9 million were post-paid. Blended monthly average revenue per user (ARPU) increased by 5.7% from a year earlier to USD14.9, while pre-paid ARPU grew by 8% to USD9.5. Turkcell’s major shareholders are TeliaSonera, Russian private equity firm Altimo and Turkish conglomerate Cukurova.

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