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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 79 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
  • Türk Telekom Group unified its mobile, broadband, TV and fixed voice brands under single "Türk Telekom" brand
  • Robust revenue and strong cash flow capacity enabling investment in promising segments and continuous growth

Financial and Operational Highlights

  • Turkey's first integrated operator recorded TL 4.5 bn revenue and TL 1.7 bn EBITDA and total subscribers increased to 40.5 mn in Q3 '17
  • Turkey's growing mobile operator with 19.2 mn subscribers as of Q3 '17
  • Turkey's leading fixed-voice and data provider with 13.4 mn total access lines, 9.4 mn broadband subscribers of which 2.5 mn is fiber subscribers as of Q3 '17

Ownership

Revenue Breakdown (2016 Q1)

*According to Official Gazette published on 5 February 2017, Council of Minister decided to transfer 6.68% (5% B Group & 1.68% D Group shares) of the shares of the Company belonging to the Turkish Treasury to the Turkish Wealth Fund.

2017 Guidance

  • 10% - 11% Revenue growth*
  • TL 6.3 bn & TL 6.4 bn EBITDA levels
  • Around TL 3.3 bn CAPEX

* Excluding construction adjustment

Revenue Breakdown (2017 Q3)

Revenue Breakdown (2016 Q1) 

Group Structure

Group Structure 

Fixed Broadband

Fixed Broadband 

  • 289K net additions in Q3 '17
  • Fiber subscribers increased to 2.5 mn as of Q3 '17
  • Türk Telekom's length of total fiber network in Turkey is 246K kilometers with 15.4 mn homepass coverage* as of Q3 '17
  • *15.4 mn homepass consists of 4.3 mn FTTH/B and 11.1 mn FTTC

Mobile

Mobile Performance 

  • 414K net additions in Q3 '17
  • Smartphone penetration increased to 78%

TV

TV 

  • 135K Home TV net additions in Q3 '17
  • Total TV subscribers exceeded 2.5 mn

Fixed Voice

Fixed Voice 

Financial Performance

Financial Performance 

Summary Financials

Consolidated Income Statement (TL mn) 2016 Q3 '16 Q2 '17 Q3 '17
Revenues 16,109 4,118 4,501 4,532
EBITDA 5,470 1,452 1,712 1,687
Margin 34.0% 35.3% 38.0% 37.2%
Operating Profit 2,621 733 939 973
Margin 16.3% 17.8% 20.9% 21.5%
Financial Income/(Expense) (3,018) (595) 249 (519)
Tax Expense (328) (129) (298) (161)
Net Income (724) 9 890 293
Margin n.m. 0.2% 19.8% 6.5%
Consolidated Cash Flow Statement (TL mn) 2016 Q3 '16 Q2 '17 Q3 '17
Operating Cash Flow 4,933 1,314 1,500 952
Investing Cash Flow (4,612) (729) (1,417) (570)
CAPEX (4,667) (730) (1,450) (618)
Other Investing Activities 55 1 32 48
Financing Cash Flow (219) (642) (581) 183
Net Change in Cash Position 102 (57) (498) 564
Consolidated Balance Sheet (TL mn) 30.09.2016 30.06.2017 30.09.2017
Total Assets 26,590 25,733 26,519
Intangible Assets 8,038 8,252 8,148
Tangible Assets 8,761 8,358 8,362
Other Assets 6,641 7,000 7,247
Cash and Equivalents 3,150 2,123 2,761
Total Equity and Liabilities 26,590 25,733 26,519
Share Capital 3,260 3,260 3,260
Reserves, Retained Earnings  and Other Equity Items 1,433 1,084 1,389
Interest Bearing Liabilities 13,615 14,754 15,398
Provisions for Employee Termination Benefits 614 651 673
Other Liabilities 7,669 5,983 5,798
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