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FINANCIAL & OPERATIONAL INFORMATION
Investing in Türk Telekom

Summary Financials

Summary Financials
Consolidated Summary P&L Statement  
TL millions 2016 Q1 2016 Q2 2016 Q3
Revenues 3,801 3,940 4,118
EBITDA 1,262 1,322 1,452
Margin 33% 34% 35%
Operating Profit (a) 604 627 733
Margin 16% 16% 18%
Financial Income/Expense, net(b) -30 -212 -595
FX & Hedging Gain/Loss, net 76 -88 -498
Interest Income/Expense, net -75 -93 -103
Other Financial Income/Expense, net -31 -31 5
Tax Expense -166 -168 -129
Profit 408 248 9
Margin 11% 6% 0%

(a) Operating profit includes revenues, cost of sales, depreciation and amortization, selling and marketing expenses, administrative expenses, other operating income/(expense), and  income/(expense) from investing activities, but excludes financial income/(expenses) presented in other operating income/(expenses) (i.e. FX gain/(loss), interest income /(expenses), and discount income/(expense) on receivables and payables), income on unconsolidated subsidiaries, and minority interest. Reported operating profit on CMB financial statements is different due to reclassification requirements of the POA/CMB since 2013 Q3 financial statements.

(b) Net financial income/(expense) includes financial income/(expense) and FX gain/(loss), interest income /(expenses), discount income/(expense) on receivables and payables excluding financial borrowings which are presented in other operating income/(expenses). Net financial income/(expense) on CMB financial statements is different due to reclassification requirements of the POA/CMB since 2013 Q3 financial statements.

Consolidated Summary Balance Sheet  
TL millions 2016 Q1 2016 Q2 2016 Q3
Intangible Assets (a)  8,064 8,076 8,038
Tangible Assets (b)  8,752 8,752 8,761
Other Assets (c ) 6,383 6,583 6,641
Cash and Equivalents 4,640 3,214 3,150
Total Assets 27,840 26,626 26,590
Share capital 3,260 3,260 3,260
Reserves, Retained Earnings and Other Equity Items 2,041 1,395 1,433
Interest Bearing Liabilities (d) 13,484 13,722 13,615
Provision for Employee Termination Benefits 579 601 614
Other Liabilities (e) (f) 8,476 7,648 7,669
Total Equity and Liabilities 27,840 26,626 26,590

(a) Intangible assets excluding goodwill

(b) Tangible assets include property, plant and equipment and investment property.

(c) Major items within Other Assets are Trade Receivables,Due from Related Parties, Other Current Assets and Deferred Tax Asset.

(d) Includes short-term and long-term borrowing and short-term and long-term obligations  under finance leases

(e) Major items within Other Liabilities are Deferred Tax Liability, Trade Payables, Provisions, Income Tax Payable, Due to Related Parties, Other Current Liabilities,Provisions for Employee Termination Benefits and Minority Put Option Liability

(f) As of Q3’15, minority put option liability was terminated due to the acqusition of minority shares (10%) of Avea.

Consolidated Summary Cash Flow Statement  
TL millions 2016 Q1 2016 Q2 2016 Q3
Cash Flow from Operating Activities 496 880 1,314
Cash Flow from Investing Activities -460 -1,513 -729
CAPEX -468 -1,526 -730
Other Investing Activities 9 13 1
Cash Flow from Financing Activities (a) 1,750 -824 -642
Net Change in Cash Position (b) 1,787 -1,458 -57

*Cash flow statements include a reclassification described in Q1'16 CMB report (note 2.2). The reclassification is applied retrospectively back to Q1’14.

(a) Includes currency translation differences

(b) Blocked deposits are included in operating activities rather than net cash position

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