Turkcell posts near-flat quarter-on-quarter group revenues

28 Apr 2017

Turkcell reported that its consolidated group revenues reached TRY4.053 billion (USD1.136 billion) in Q1 2017, up 25.6% year-on-year although growing only 0.2% quarter-on-quarter, with the disparity partly influenced by the effects of the Turkish lira’s declining value following last July’s failed military coup in Turkey. Group Q1 EBITDA was reported at TRY1.400 billion (up 2.1% q-o-q, 39.8% y-o-y), which the operator noted was the highest first-quarter EBITDA margin (34.5%) since 2009. Q1 group net income reached TRY459 million (lower than TRY563 million a year earlier, although higher than the preceding quarter’s TRY351 million profit). Accounting for the bulk of earnings, Turkcell Turkey’s revenues fell by 0.4% quarter-on-quarter to TRY3.563 billion (up 21.7% y-o-y), whilst Turkish EBITDA grew 3.5% to TRY1.269 billion (up 38.5% y-o-y). Domestic mobile data revenues grew by 88.5% y-o-y to TRY1.438 billion while fixed data revenues rose by 31.8% to TRY317 million in the same period, and digital services revenue rose by 179.7% to TRY631 million (driven by growth from the Turkcell TV+ application, Turkcell’s digital publishing service Dergilik, proprietary music streaming platform fizy, personal cloud service lifebox and other mobile services), with take-up and usage boosted significantly by last year’s 4G network launch. Turkcell Turkey’s total active post-paid mobile connections rose by 6.0% y-o-y to 35.8 million at end-March 2017, including 2.1 million machine-to-machine (M2M) SIM connections (up 5.0% y-o-y), whilst pre-paid customers fell 5.4% to 15.7 million. Fibre broadband customers at Turkcell Superonline grew by 16.0% to 1.086 million.

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