Türk Telekom’s revenues up 19 percent in first half of 2021

ISTANBUL

Türk Telekom, Turkey’s prominent telecommunications company, racked up 15.8 billion Turkish Liras ($1.8 billion) in consolidated revenues in the first half of 2021, posting an annual increase of 19 percent, it said in a press release on Aug. 10.

The company’s earnings before interest taxes depreciation and amortization (EBITDA) hit 7.8 billion liras ($901 million) in the January-June period, while its EBITDA margin was 49.6 percent.

Türk Telekom’s net profits in the same period reached 2.6 billion liras ($302.2 million), and its investment expenditures increased 25 percent to 2.7 billion liras ($312.2 million).

“Our commitment to sustainable growth is based on swift digital transformation, strategic investments and first-class customer experience,” Türk Telekom CEO Ümit Önal was quoted as saying in the statement.

Türk Telekom aims to lead the country’s transition to 5G technologies, Önal said, adding: “Providing everyone’s access to fiber network is among our foremost priorities. By the second quarter of this year, the length of our fiber network in the 81 provinces reached 345,000 kilometers. The total number of our fiber broadband subscribers hit 8.1 million, while the share of our fiber subscribers exceeded 58 percent.”

The company has revised its 2021 targets upwards, according to Önal’s remarks, raising operational revenue expectation from 16 percent to 17 percent.

Türk Telekom’s total subscriptions increased 2 million in the last 12 months, reaching 50.7 million at the end of the second quarter. The company has 13.8 million fixed broadband and 23.4 million mobile customers.