Turk Telekom's annual revenues climb 19.6%

4 Feb 2021

Fixed and mobile operator Turk Telekom reported that its consolidated annual revenues increased by 19.6% to TRY28.3 billion (USD3.9 billion) in FY20, driving EBITDA up 18.5% to TRY13.2 billion, beating its 2020 guidance. Full-year operating profit increased by 22.4% to TRY7.9 billion and net income reached a record TRY3.2 billion despite unfavourable foreign exchange movements throughout the year. Twelve-month CAPEX was TRY6.7 billion, slightly above guidance of TRY6.6 billion.

Turk Telekom gave 2021 guidance of: 14% consolidated revenue growth excluding effects of IFRIC 12 standards; consolidated EBITDA of around TRY15 billion; and CAPEX of around TRY7.7 billion.

Turkey, Turk Telekom