Turkcell profits climb over 50 pct in 2017

Turkcell profits climb over 50 pct in 2017

ISTANBUL - Anadolu Agency
Turkcell profits climb over 50 pct in 2017

Net profits of Turkish mobile network giant Turkcell rose to 2.48 billion Turkish Liras (around $679.45 million) in 2017, soaring 52.3 percent year-on-year, the company’s CEO said on Feb. 16.

Total revenues last year totaled 17.63 billion liras ($4.83 billion), up 23.4 percent from the previous year, Kaan Terzioğlu said during a press conference in Istanbul.

“Turkcell is the world’s fastest-growing telecommunications company with a 23.4 percent growth rate in 2017,” he said.

The company’s profit rise is based on core earnings before interest, taxes, depreciation and amortization (EBITDA), reaching 6.23 billion liras ($1.7 billion) in a 34.8 percent rise, Terzioğlu added.

He said during 2017 Turkcell added 1.1 million mobile subscribers to reach a total of 34.1 million, and Turkcell’s total subscribers—including fixed-lines and TV—reached 36.7 million, up 1.5 million compared to 2016.

The company’s growth rate was dominated by data and digital services with 67 percent, he highlighted.

He said Turkcell’s international revenues also surged 22 percent to 1.06 billion liras ($292.3 million) in the same period.

Turkcell has telecommunications brands in Ukraine, Belarus and the Turkish Republic of Northern Cyprus.

The company contributed 32.3 billion liras (around $10.32 billion) to Turkey’s economy over the last three years with its investments, license fees and liabilities.

Turkcell’s 2018 target is a 13-15 percent rise in its revenues, he stressed.

Turkcell’s total revenues were 14.3 billion liras ($4.72 billion) in 2016 and 12.8 billion liras ($4.7 billion) in 2015.