Turkcell posts record high Q1 revenue of USD1.1bn

30 Apr 2015

Turkcell Group has recorded its highest ever first quarter revenue figure, with its top-line reaching TRY2.978 billion (USD1.119 billion), representing year-on-year growth of 4.3%, up from TRY2.855 billion one year earlier. The lion’s share of sales were contributed by Turkcell’s domestic unit, which generated revenues of TRY2.711 billion in 1Q15, up 10% from TRY2.475 million y-o-y. EBITDA increased 4.5% from TRY887 million in 1Q14 to TRY927 million for the same period in 2015 – another record high – while the company’s EBITDA margin remained flat at 31.1%. Meanwhile, net income dropped to TRY141 million, down from TRY359 million in the year-ago period, impacted by Turkcell International’s TRY656 million net loss, which was prompted by currency devaluation; excluding foreign exchange movements, inflationary accounting in Belarus and one-off items, Turkcell notes that its net income would have increased 8.6% y-o-y to TRY655 million.

Group CEO Kaan Terziogle commented: ‘We have set a new structure for managing our mobile, fixed and TV businesses more effectively … Our aim is to extend our innovative approach and converged services … to the consumer segment. We believe that our converged offerings should advance customer loyalty, [increase] our competitive strength and [improve] operational efficiency, which together will underpin sustainable growth.’

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