Turkcell group revenues climb 6% in Q3

27 Oct 2014

Consolidated revenues at Turkish telecoms group Turkcell climbed by 6% year-on-year in the third quarter of 2014 to TRY3.162 billion (USD1.415 billion), up from TRY2.981 billion in 3Q13, driven by higher growth in mobile broadband and fibre broadband revenues. Group EBITDA rose by 3% to TRY1.050 billion in the three months ended 30 September 2014, compared to TRY1.016 billion in the year-ago period, although the EBITDA margin declined to 33.2% from 34.1% y-o-y, resulting largely from increased sales and marketing expenses (due to intense competition in the Turkish mobile market, higher Turkish mobile interconnection and network costs, and increased operational expenses of other subsidiaries). Group quarterly net income rose by 8% to TRY755 million (TRY699 million).

Turkcell’s mobile business in Turkey recorded y-o-y revenue growth of 5% to TRY2.477 billion in Q3 2014, while posting a 33.5% (down from 34.5%) EBITDA margin; Turkish quarterly mobile broadband revenues jumped by 38% to TRY530 million (from TRY385 million) while voice revenues also rose, by 0.7% to TRY1.676 billion.

Combined revenues of other subsidiaries increased by 11% y-o-y to TRY685 million and EBITDA of subsidiaries rose by 11% to TRY222 million. Turkish broadband operator Turkcell Superonline grew its revenues by 38% y-o-y in Q3 on the strength of a growing fibre customer base. Ukrainian cellco Astelit’s revenues increased by 16% in local currency terms to UAH1.145 billion (USD88.4 million) but declined by 21% in group reporting (TRY) terms due to 62% currency devaluation in Ukraine.

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