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 80 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
- Uniﬁcation of mobile, broadband, TV and ﬁxed voice brands under single Türk Telekom brand with a customer oriented and integrated structure
- Strong portfolio of subsidiaries, all well positioned to provide equity value both via supporting core businesses and via third party sales
- Covering 81 cities of Türk Telekom with its 268K km ﬁber network
Financial and Operational Highlights
- Consolidated revenues reached TL 5.0 bn with 10% YoY growth. Excluding IFRIC 12 revenue, consolidated revenue growth was at 10.5% YoY, in line with company expectations.
- Consolidated EBITDA at TL 2.0 bn grew 15% YoY with an EBITDA margin of 40%. Growth in operating proﬁt was also strong at 13% YoY.
- Consolidated Capex increased to TL 836 mn in Q2’18 from TL 544 mn in Q2’17.
- Number of total Türk Telekom subscribers reached 43.5 mn with 937K net additions in Q2 – the best second quarter performance over the past 10 years. Annual growth in subscriber base accelerated from 3% in Q2’17 to 10% in Q2’18 – the highest growth since 2008.
Note: Turkish Wealth Fund has 1.68% share in free ﬂoat
- Around 11% Revenue growth*
- TL 7.6 bn - TL 7.8 bn EBITDA levels
- Around TL 4.1 bn CAPEX
* Excluding IFRIC 12
Türk Telekom adopted IFRS 15 and IFRS 9 accounting standards starting from 1 January 2018. For further details please refer to “Financial Footnotes” & “Summary Financial and Operational xls” on our web site.
Revenue Breakdown (2018 Q2)
While Türk Telekom uniﬁed mobile, ﬁxed voice, ﬁxed broadband and TV brands under single “Türk Telekom” brand, TTNET A.S., and TT Mobil İletisim Hizmetleri A.S. legal entities remain intact
Revenue Performance (TL mn)