Turkcell revenues jump 23% in FY21

18 Feb 2022

Consolidated revenues at Turkcell rose by 23.4% to TRY35.92 billion (USD2.64 billion) in full-year 2021 supported by ‘upsell efforts, price adjustments and subscriber growth as well as the contribution of the techfin business, international operations and equipment sales’, the Turkish group reported. Group annual EBITDA was up 22.4% to TRY15.01 billion leading to an EBITDA margin of 41.8%; EBIT climbed 22.7% to TRY7.72 billion resulting in an EBIT margin of 21.5%. FY21 net income improved 18.7% to TRY5.03 billion ‘mainly on the back of robust operational performance and prudent financial risk management as well as the deferred tax income impact that resulted from revaluation of assets’.

Turkcell Turkey’s subscription base across all segments saw 2.7 million net additions in the twelve-month period, the highest performance since 2007, including 1.7 million mobile post-paid (including M2M) net additions and half a million mobile pre-paid net additions. 258,000 fixed subscription net additions at Turkcell Superonline represented the highest figure since 2017, and included 223,000 fibre net additions, as the operator recorded 653,000 new fibre network home-passes in the year.

Turkey, Turkcell, Turkcell Superonline