Turkcell’s sales climb 11.8% in Q2

In the second quarter of 2020 Turkcell’s consolidated revenues increased 11.8% year-on-year to TRY6.924 billion (USD943 million), with the Turkish group posting a 10.6% rise in EBITDA to TRY2.824 billion. Supported by effective cost management and declining financing expenses, net profit reached TRY852 million in April-June 2020, an 83.1% y-o-y improvement. Despite uncertainty related to COVID-19 and the expected continuation of travel and tourism restrictions, the positive results up to mid-2020 led Turkcell to maintain targets announced earlier for 2020, with projected revenue growth of 10%-12%, EBITDA margin range of 40%-42%, EBIT margin of 19%-21% and operational CAPEX-to-revenue ratio of 17%-19%.

Turkcell’s total mobile subscribers in Turkey reached 30.8 million (excluding M2M connections) at end-June 2020, up from 30.5 million three months earlier, while its Superonline division served 1.55 million fibre broadband access customers at the same date (up by 36,000 during the quarter).