Turkcell reports best ever quarterly EBITDA

25 Apr 2018

Turkey’s Turkcell has reported all-time high group quarterly revenue and EBITDA figures for the first three months of 2018. Consolidated revenues were up 17.5% year-on-year to TRY4.762 billion (USD1.163 billion) and group EBITDA rose 44.4% y-o-y to TRY2.022 billion in January-March 2018, giving an EBITDA margin of 42.5%. Group net income climbed 9.2% y-o-y to TRY501 million on ‘strong operational performance’, as Turkcell’s domestic subscriber base grew to 37.3 million at 31 March (including mobile, M2M, fixed broadband and IPTV), from 35.8 million twelve months earlier. Ukrainian division Lifecell reported a 13.5% y-o-y drop in its active mobile user base to 7.7 million at end-1Q18, but an 18.7% rise in ARPU over the same period, whilst announcing the long-awaited launch of 4G LTE services in Ukraine on 30 March. BeST (life:)) in Belarus reported a 7.7% y-o-y decline in active mobile users to 1.2 million, although posting a 23.0% rise in Q1 revenue to TRY56.6 million.

Two group divestment deals were wrapped up in the quarter: on 5 March Fintur Holdings (Turkcell’s joint venture with Telia Company) transferred its entire 51.3% shareholding in Azerbaijani mobile operator Azercell to Azintelecom (itself wholly owned by the Republic of Azerbaijan) for USD273.5 million, and on 20 March Fintur completed the transfer of its 99.99% stake in Georgia’s Geocell to Silknet for USD153 million.