Turkey · Delayed Price · Currency is TRY Türk Telekomünikasyon Anonim Sirketi Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 delivered strong revenue, EBITDA, and net profit growth, led by fixed broadband and corporate data, despite inflation and FX risks. 5G launched nationwide, CapEx rose for network expansion, and guidance for revenue and margins is maintained.
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.