Turk Telekom H1 revenues reach USD3.5bn

20 Jul 2011

Turk Telekom has reported revenues of TRY5.85 billion (USD3.5 billion) for the six months ended 30 June 2011, up from the corresponding figure of TRY5.25 billion a year earlier. Operating profit for the first half of 2011 increased from TRY1.50 billion to TRY1.74 billion year-on-year, while Turk Telekom reported net income of TRY1.12 billion in 1H11, down from TRY1.15 in the year-ago period. Fixed line revenues continue to account for the lion’s share of Turk Telekom’s sales, despite slipping slightly to TRY2.10 billion year-on-year. During 1H11 ADSL and GSM revenues increased in tandem, to TRY1.46 billion.

In operational terms, Turk Telekom’s broadband customer base rose to 6.7 million by 1 July 2011, whilst fixed PSTN lines fell to 15.6 million, down from 16.3 million at end-June 2010. Turk Telekom’s mobile unit Avea saw its subscriber base grow from 11.5 million to 12.2 million year-on-year; of these, 6.9 million customers were on pre-paid plans, with the remaining 5.4 million subscribers signed up to post-paid contracts. In addition, Turk Telekom indicated that its paid-for web-TV service ‘Tivibu Web’ reached 1.1 million subscribers by end-June; the firm’s full IPTV service ‘Tivibu Home’ launched commercially in February, although no subscriber data has been made available.

Company CEO Hakam Kanafani commented: ‘Turk Telekom Group’s strong operational performance was maintained in this year’s second quarter. This is a great achievement, considering we incurred losses of TRY368 million in the first half of this year from net exchange and derivatives due to the depreciation of the lira against the US dollar and the euro, compared to TRY8 million worth of gains incurred in the second half of 2010’.

Turkey, Turk Telekom