Turkcell Q1 revenues boosted by 17.3% year-on-year

Turkcell Group’s consolidated revenues in Q1 2020 increased by 17.3% year-on-year to TRY6.7 billion (USD958 million), with consolidated quarterly EBITDA reaching TRY2.8 billion (up 23.1%), resulting in an EBITDA margin of 42.2%. Net income of TRY873 million in January-March 2020 represented a y-o-y increase of 93% if excluding the sale of Turkcell’s remaining Fintur international assets to Telia Company in the first quarter of last year (down 28.7% if including the Fintur transaction).

At 31 March 2020 Turkcell reported 18.3 million post-paid mobile subscribers in Turkey, plus 2.7 million M2M connections on its Turkish mobile network, up from 16.3 million and 2.4 million respectively in 1Q19. Turkish pre-paid mobile customers fell from 15.0 million to 12.2 million in the same period, affected by compliance with user registration regulations. At the Turkcell Superonline division, fibre broadband subscribers reached 1.52 million at end-Q1 2020, up from 1.41 million twelve months earlier, while ADSL users dropped from 862,000 to 696,000.