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 net profit, and strong subscriber additions. Major milestones included a renewed fixed-line concession, 5G spectrum acquisition, and successful large-scale financing. Guidance remains cautious due to inflation, but upside risk is acknowledged.
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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 saw 18% revenue growth and 27% EBITDA increase, driven by strong fixed internet and mobile segments. Net profit rose over 45% YoY, with robust subscriber additions and improved leverage. Guidance remains cautious amid inflation and macroeconomic uncertainties.
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.
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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.
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Revenue grew 6% year-over-year to TRY 28 billion, with EBITDA up 23% and margin expanding to 36.6%. Mobile and fixed broadband drove growth, while regulatory-approved wholesale price hikes and a new sustainability bond marked key developments. Net leverage improved to 1.1x.