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Fact Sheet

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 79 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
  • Strong management team with a broad international and sector experience
  • Türk Telekom Group unified its mobile, broadband, TV and fixed voice brands under single “Türk Telekom” brand
  • Robust revenue and strong cash flow capacity enabling investment in promising segments and continuous growth

Financial and Operational Highlights

  • Turkey’s first integrated operator recorded TL 4.3 bn revenue and TL 1.5 bn EBITDA and total subscribers increased to 39.2 mn in Q1 ’17
  • Turkey’s growing mobile operator with 18.7 mn subscribers as of Q1 ‘17
  • Turkey’s leading fixed-voice and data provider with 13.2 mn total access lines, 8.9 mn broadband subscribers of which 2.2 mn is fiber subscribers as of Q1 ‘17

Ownership

Revenue Breakdown (2016 Q1)

*According to Official Gazette published on 5 February 2017, Council of Minister decided to transfer 6.68% (5% B Group & 1.68% D Group shares) of the shares of the Company belonging to the Turkish Treasury to the Turkish Wealth Fund.

2017 Guidance

  • 8% - 9% Revenue growth*
  • TL 5.8 bn & TL 6.0 bn EBITDA levels
  • Around TL 3 bn CAPEX

* Excluding construction adjustment

Revenue Breakdown (2017 Q1)

Revenue Breakdown (2016 Q1) 

Group Structure

Group Structure 

Fixed Broadband

Fixed Broadband 

  • 218K net additions in Q1 ‘17
  • Fiber subscribers increased to 2.2 mn as of Q1 ‘17
  • Türk Telekom’s length of total fiber network in Turkey is 235K kilometers with 14.5 mn  homepass coverage* as of Q1 ‘17
  • *14.5 mn homepass consists of 4.0 mn FTTH/B and 10.4 mn FTTC

Mobile

Mobile Performance 

  • 142K net additions in Q1 '17
  • Smartphone penetration increased to 76% - the highest in the market

TV

TV 

  • 97K Home TV net additions in Q1 '17
  • Home TV ARPU realized at TL 17.9 in Q1 '17

Fixed Voice

Fixed Voice 

Financial Performance

Financial Performance 

Summary Financials

Consolidated Income Statement (TL mn) 2016 Q1 ‘16 Q4 ‘16 Q1 ‘17
Revenues 16,109 3,801 4,250 4,307
EBITDA 5,470 1,262 1,434 1,528
Margin 34.0% 33.2% 33.8% 35.5%
Operating Profit 2,621 604 658 807
Margin 16.3% 15.9% 15.5% 18.7%
Financial Income/(Expense) (3,018) (30) (2,180) (622)
Tax Expense (328) (166) 134 (119)
Net Income (724) 408 (1,388) 66
Margin n.m. 10.7% n.m. 1.5%
Consolidated Cash Flow Statement (TL mn) 2016 Q1 ‘16 Q4 ‘16 Q1 ‘17
Operating Cash Flow 4,933 496 2,243 429
Investing Cash Flow (4,612) (460) (1,910) (615)
CAPEX (4,667) (468) (1,943) (442)
Other Investing Activities 55 9 33 (173)
Financing Cash Flow (219) 1,750 (503) (184)
Net Change in Cash Position 102 1,787 (170) (370)
Consolidated Balance Sheet (TL mn) 31.03.2016 31.12.2016 31.03.2017
Total Assets 27,840 26,874 26,702
Intangible Assets 8,064 8,341 8,480
Tangible Assets 8,752 8,710 8,313
Other Assets 6,383 6,806 7,273
Cash and Equivalents 4,640 3,016 2,636
Total Equity and Liabilities 27,840 26,874 26,702
Share Capital 3,260 3,260 3,260
Reserves, Retained Earnings  and Other Equity Items 2,041 126 211
Interest Bearing Liabilities 13,484 15,041 15,594
Provisions for Employee Termination Benefits 579 696 637
Other Liabilities 8,476 7,751 7,000
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