Turkcell results for Q1

8 May 2008

Turkey’s leading mobile operator by subscribers Turkcell reported that net profits rose 78.9% to USD486.8 million in the first quarter of 2008, while revenue rose 21.6% year-on-year to USD1.57 billion. Chief Executive Sureyya Ciliv attributed the growth to expansion of the company’s post-paid subscriber base and strong results from its corporate business division. EBITDA rose 12.4% to USD577 million, with the EBITDA margin standing at 37%, down from 41% in the fourth quarter of last year due to an increase in costs. The company’s monthly average revenue per user (ARPU) increased 9.1% to USD13.2 in the quarter, due to a 15% appreciation of the Turkish lira against the dollar (ARPU decreased 7.7% in lira terms). The company’s subscriber base grew 9% year-on-year to 35.1 million.

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