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FINANCIAL & OPERATIONAL INFORMATION
Investing in Türk Telekom

Fact Sheet

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 78 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 4.1 bn revenue and TL 1.5 bn EBITDA in Q3’16
  • Turkey’s youngest and growing mobile operator with 18.4 mn subscribers as of Q3’16
  • Turkey’s leading fixed-voice and data provider with 12.9 mn total access lines, 8.4 mn broadband subscribers of which 1.8 mn is fiber subscribers as of Q3’16
  • Solid dividend policy of maximum payout as defined in the Articles of Association

Ownership

Revenue Breakdown (2016 Q1)

2016 Guidance

  • 7% - 9% Revenue growth*
  • Between TL 5.5 bn & TL 5.7 bn EBITDA
  • Around TL 3.2 bn CAPEX

* Excluding construction adjustment

Revenue Breakdown (Q3’16)

Revenue Breakdown (2016 Q1)

Group Structure

Group Structure

While Türk Telekom unified mobile, fixed voice, fixed broadband and TV brands under single “Türk Telekom” brand, TTNET A.S., and Avea İletisim Hizmetleri A.S. legal entities remain intact.

Fixed Broadband

Fixed Broadband

  • 119K net additions in Q3’16
  • Fiber subscribers increased to 1.8 mn in Q3’16
  • Türk Telekom’s length of total fiber network in Turkey is 223K kilometers with 13.1 mn homepass coverage* as of Q3’16
  • *13.1 mn homepass consists of 3.7 mn FTTH/B and 9.5 mn FTTC

Mobile

Mobile Performance

  • 342K net additions in Q3’16
  • Smartphone penetration increased to 73% - the highest in the market

TV

TV

  • 46K Home TV net additions in Q3’16
  • Home TV ARPU realized at TL 18.7 in Q3’16

Fixed Voice

Fixed Voice

Financial Performance

Financial Performance

Summary Financials

Consolidated Income Statement (TL mn) 2015 Q3’15 Q2’16 Q3’16
Revenues 14,523 3,696 3,940 4,118
EBITDA 5,334 1,269 1,322 1,452
Margin 36.7% 34.3% 33.6% 35.3%
Operating Profit 3,062 669 627 733
Margin 21.1% 18.1% 15.9% 17.8%
Financial Income/(Expense) (1,801) (1,195) (212) (595)
Tax Expense (399) 22 (168) (129)
Net Income 907 -493 248 9
Margin 6.2% n.m. 6.3% 0.2%
EPS 0.26 -0.14 0.07 0.00
DPS (TL) 0.24
Dividend 841

 

Consolidated Cash Flow Statement (TL mn) 2015 Q3’15 Q2'16 Q3'16
Operating Cash Flow 4,498 1,155 880 1,314
Investing Cash Flow (3,166) (662) (1,513) (729)
CAPEX (3,320) (636) (1,526) (730)
Other Investing Activities 153 (27) 13 1
Financing Cash Flow (1,089) 277 (824) (642)
Net Change in Cash Position 243 770 (1,458) (57)

Consolidated Balance Sheet (TL mn) Q3’15 Q2’16 Q3’16
Total Assets 21,467 26,626 26,590
Intangible Assets 5,047 8,076 8,038
Tangible Assets 8,188 8,752 8,761
Other Assets 5,450 6,583 6,641
Cash and Equivalents 2,782 3,214 3,150
Total Equity and Liabilities 21,467 26,626 26,590
Share Capital 3,260 3,260 3,260
Reserves, Retained Earnings  and Other Equity Items 700 1,395 1,433
Interest Bearing Liabilities 12,001 13,722 13,615
Provisions for Employee Termination Benefits 612 601 614
Other Liabilities 4,893 7,648 7,669
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