Türk Telekom’s net income 8.5 billion Turkish Liras in 2024

ISTANBUL

Telecom giant Türk Telekom posted a net income of 8.46 billion Turkish Liras in 2024, with revenue rising 11 percent from the previous year.

With a robust fourth quarter performance, consolidated revenues increased by 20.3 percent year-on-year to 45.6 billion liras in the final quarter of last year and reached 161.7 billion liras in the full year, the company said in a statement.

EBITDA increased by 45.3 percent annually in the fourth quarter to 17.97 billion, with the EBITDA margin improving from 32.6 percent a year ago to 39.4 percent.

In the fourth quarter of 2024, net income was 4.3 billion liras.

“We closed another challenging year with a guidance-beating performance,” said Ümit Önal, Türk Telekom CEO.

“While our flagship businesses, fixed internet and mobile both delivered robust key performance indicators (KPIs) beyond our expectations, all areas of operation nicely supported a healthy set of consolidated financials,” he said.

“Although a hugely successful 2024 sets a high base ahead, we are encouraged by our ever-strong positioning in our business segments and unique capabilities enabling us to once again target ambitious goals for 2025,” Önal added.

According to its 2025 guidance, the company expects revenue growth of 8 to 9 percent and an EBITDA margin between 38 to 40 percent this year.

The company closed 2024 with 53.2 million subscribers in total, flat quarter-on-quarter. The fixed broadband base inched up to 15.4 million with an 81,000 net subscriber gain in the fourth quarter, while the fiber base expanded to 13.7 million subscribers with 278,000 net additions.