Turkcell revises up its revenue target

Turkcell revises up its revenue target

ISTANBUL - Hürriyet Daily News
Turkcell revises up its revenue target

Turkcell’s GM Ciliv says that Turkcell will revise up its revenue target following better than expected second quarter results with net profits at 534 million liras. Company photo

Turkcell’s second-quarter net profits exceeded expectations, leading Turkey’s largest mobile giant to revise up its 2012 revenues, according to an announcement made by Turkcell’s general manager, Süreyya Ciliv, on July 25.

Turkey’s second-quarter net profits were at 534 million Turkish Liras, which was a 3.8 percent increase from the last quarter. In the second quarter last year, Turkcell had registered 21.4 million in losses due to costs associated with the exchange rate at its Belorussian subsidiary as well as the Competition Board’s financial fine.

“When we realized that our first half results were better than expected, we increased our year-end 2012 revenue expectations from the 9.9-10.1 billion-lira band to the 10.1-10.3 billion-lira band,” said Ciliv after the results announcement.

Turkcell’s second quarter sales revenues were also up 13 percent to 2.57 billion liras. The mobile provider’s number of subscribers reached 34.7 million, allowing Turkcell to maintain its 53 percent share of the subscriber market. This translated to a 200,000-subscriber increase from the last quarter. As of the second quarter, Turkcell now has 22.2 million pre-paid subscribers and 12.6 million post-paid subscribers.
Ciliv also said Turkcell wanted to increase its number of smartphones by another 2.7 million in the next 12 months from 4.8 million as of the second quarter. Ciliv also expects mobile internet revenues to increase by 44-45 percent by the end of the year.