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Fact Sheet

TTKOM Bloomberg: TTKOM TI Reuters: TTKOM IS

Türk Telekom Group is Turkey’s world-class, integrated telecommunication and technology services provider offering its customers the complete range of mobile, broadband, data, TV and fixed voice services as well as innovative convergence technologies under the unified “Türk Telekom” brand. Turkey is one of the largest telecom markets in EMEA region with over 80 mn growing population and increasing number of households.

Overview of Türk Telekom

  • Privatized in 2005 and IPO’ed in 2008; underwent a successful transformation resulting in increased efficiency and enlarged service scope
  • Strong management team with a broad international and sector experience
  • Unification of mobile, broadband, TV and fixed voice brands under single Türk Telekom brand with a customer oriented and integrated structure
  • Strong portfolio of subsidiaries, all well positioned to provide equity value both via supporting core businesses and via third party sales
  • Covering 81 cities of Türk Telekom with its 256K km fiber network

Financial and Operational Highlights

  • Consolidated revenues in 2017 increased 12.6% to TL 18.1bn - the highest growth since IPO
  • Excluding IFRIC 12, consolidated revenues increased 11.1% at the high end of the revenue guidance range of 10% -11% annual growth
  • Consolidated EBITDA grew 18.0% in 2017 - the highest EBITDA growth since IPO - to TL 6.45bn at the high end of the EBITDA guidance range of TL 6.3bn -TL 6.4bn for 2017
  • Number of total Türk Telekom subscribers increased to 41.7mn with 1.1mn net additions in Q4. For the full year, net subscriber acquisitions reached 2.8mn - again the best annual net add since IPO

Ownership

Revenue Breakdown (2017 Q4)

Note: Turkish Wealth Fund has 1.68% share in free float

2018 Guidance

  • Around 11% Revenue growth*
  • TL 7.0 bn - TL 7.2 bn EBITDA levels
  • Around TL 3.5 bn CAPEX

* Excluding IFRIC 12

* Excluding construction adjustment

Revenue Breakdown (2017 YE)

Revenue Breakdown (2017 Q4) 

Group Structure

Group Structure 

Fixed Broadband

Fixed Broadband 

Mobile

Mobile Performance 

TV

TV 

Fixed Voice

Fixed Voice 

Financial Performance

Financial Performance 

Summary Financials

Consolidated Income Statement (TL mn) 2017 Q4 '16 Q3 '17 Q4 '17
Revenues 18,140 4,250 4,532 4,800
EBITDA 6,452 1,434 1,687 1,525
Margin 35.6% 33.7% 37.2% 31.8%
Operating Profit 3,433 658 973 713
Margin 18.9% 15.5% 21.5% 14.8%
Financial Income/(Expense) (1,954) (2,180) (519) (1,061)
Tax Expense (343) 134 (161) 235
Net Income 1,136 (1,338) 293 (113)
Margin 6.3% n.m. 6.5% n.m.
Consolidated Cash Flow Statement (TL mn) 2017 Q4 '16 Q3 '17 Q4 '17
Operating Cash Flow 5,944 2,243 952 3,063
Investing Cash Flow (4,278) (1,910) (570) (1,674)
CAPEX (4,224) (1,943) (618) (1,713)
Other Investing Activities (54) 33 48 39
Financing Cash Flow (595) (503) 183 (12)
Net Change in Cash Position 1,072 (170) 564 1,376
Consolidated Balance Sheet (TL mn) 30.09.2016 30.06.2017 30.09.2017
Total Assets 26,874 26,519 29,149
Intangible Assets 8,341 8,148 8,438
Tangible Assets 8,760 8,362 9,138
Other Assets 6,757 7,247 7,473
Cash and Equivalents 3,016 2,761 4,100
Total Equity and Liabilities 26,874 26,519 29,149
Share Capital 3,260 3,260 3,260
Reserves, Retained Earnings  and Other Equity Items 126 1,389 1,295
Interest Bearing Liabilities 15,041 15,398 16,492
Provisions for Employee Termination Benefits 696 673 711
Other Liabilities 7,751 5,798 7,391
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