Turkey · Delayed Price · Currency is TRY Türk Telekomünikasyon Anonim Sirketi Earnings Call Transcripts
Fiscal Year 2025
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Revenues grew over 14% in 2025, with EBITDA up 20% and net profit more than doubling year-on-year. Strong mobile and fixed broadband performance drove subscriber growth, while 2026 guidance anticipates continued expansion and higher CapEx for 5G investments.
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Q3 saw double-digit revenue and EBITDA growth, record mobile subscriber additions, and margin expansion, supported by price hikes and operational efficiency. Major investments in FTTH and 5G, a renewed concession, and robust financing underpin long-term growth, with cautious guidance due to inflation risks.
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The fixed-line concession has been extended to 2050, with a $2.5B fee over 10 years and a $17B investment plan. Leverage is expected to remain near global standards, with CapEx intensity at 29% of sales and EBITDA margin guidance at 41% for 2025. Operational leadership and regulatory changes support long-term growth.
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Q2 2025 delivered strong revenue and EBITDA growth, driven by robust mobile and fixed broadband performance, with upwardly revised full-year guidance and a major international fiber expansion. Competitive intensity remains high, but operational leverage and financial discipline improved key metrics.
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Q1 2025 saw 18% revenue growth and 27% EBITDA growth, with strong subscriber additions and improved margins. Guidance remains unchanged amid macroeconomic caution, while future 5G and concession renewal may require new financing.
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Q2 2024 delivered strong revenue and EBITDA growth, with margins at record highs and robust cash flow. Management maintains full-year guidance, expects double-digit H2 growth, and is progressing on concession renewal and 5G preparations. Competitive intensity and inflation remain key risks.
Fiscal Year 2024
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Revenue grew 12% to TRY 162B in 2024, with EBITDA up 30% and net profit at TRY 8.5B. Mobile and fixed broadband saw strong subscriber and ARPU growth, while 2025 guidance targets 8-9% revenue growth and higher CapEx intensity.
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Q3 2024 delivered strong revenue and EBITDA growth, driven by robust ARPU and subscriber gains in both mobile and fixed broadband. Management raised EBITDA margin guidance and expects to meet full-year targets, while monitoring inflation and regulatory developments.