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
- 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 262K km fiber network
Financial and Operational Highlights
- Consolidated revenues increased 8.8% YoY to TL 4.7 bn. Excluding IFRIC 12, consolidated revenue growth was at 9.9% YoY, in line with company expectations.
- EBITDA grew 29.1% YoY to TL 2 bn with an EBITDA margin of 42.1%.
- Capex increased 45% YoY to TL 581 mn.
- Group generated TL 56 mn net income in Q1’18.
- Number of total Turk Telekom subscribers increased to 42.6 mn with 916K net additions in Q1 - the best first quarter performance over the past 10 years. Continuing its accelerated trend, net subscriber acquisitions during the last twelve months reached 3.3 mn, another best performance since IPO.
Note: Turkish Wealth Fund has 1.68% share in free float
- Around 11% Revenue growth*
- TL 7.6 bn - TL 7.8 bn EBITDA levels
- Around TL 4.1 bn CAPEX
* Excluding IFRIC 12
Türk Telekom adopted IFRS 15 and IFRS 9 accounting standards starting from 1 January 2018. For further details please refer to “Financial Footnotes” & “”Summary Financial and Operational xls” on our web site.
Revenue Breakdown (2018 Q1)