27 January 2015

Turkcell Announces Financial Results for 3Q 2014

Turkcell announced its financial and operational results for the 3Q2014.

27.01.2015, Istanbul – Turkcell, the leading communications and technology company in Turkey, announced its financial and operational results for the 3Q2014:

  • Group revenues grew by 6% to TRY3,162 million (TRY2,981 million), driven by higher growth in mobile broadband and fiber broadband revenues.
  • Group EBITDA1 rose by 3% to TRY1,050 million (TRY1,016 million), while the EBITDA margin declined by 0.9pp to 33.2% (34.1%). This resulted mainly from increased sales and marketing expenses due to intense competition in the Turkish mobile market, the higher interconnect and network costs of Turkcell Turkey and increased operational expenses of certain subsidiaries.
  • Group net income rose by 8% to TRY755 million (TRY699 million).
  • Turkcell’s mobile business in Turkey recorded revenue growth of 5% to TRY2,477 million (TRY2,365 million) with a 33.5% (34.5%) EBITDA margin.
  • Mobile broadband revenues rose by 38% to TRY530 million (TRY385 million).
  • Voice revenues2 increased by 0.7% to TRY 1,676 million (TRY1,664 million).
  • Revenues of subsidiaries3 increased by 11% to TRY685 million (TRY616 million), while EBITDA rose by 11% to TRY222 million (TRY199 million), despite a lower contribution from our Ukrainian business due to further currency devaluation.

Detailed information on 3Q 2014 (PDF)

Notes to Editors

LetterOne Technology is an investment vehicle of LetterOne Group focused on opportunities in the global telecommunication sector. LetterOne Technology has two portfolio investments: VimpelCom Ltd., one of the world’s largest integrated telecoms services operators providing voice and data services, and Turkcell, the leading telecoms operator in Turkey.

Turkcell is the leading communications and technology company in Turkey.

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