Türk Telekom posts 1.1 billion liras net income in third quarter

ISTANBUL

Türk Telekom posted a net income of 1.1 billion Turkish Liras in the third quarter with consolidated revenues rising 15.9 percent year-on-year to 40.35 billion liras.

In the third quarter of last year, the telecom giant’s net income was 3.04 billion liras.

In the first nine months of 2024, the company’s consolidated revenues surged 8.7 percent year-on-year to 109.2 billion liras.

Ex-IFRIC 12 revenue growth was 15.8 percent in the third quarter and 10.6 percent in the January-September period, Türk Telekom said in a statement on its financial and operational results.

EBITDA grew 30.8 percent annually in the third quarter to 16.5 billion liras with a 40.8 percent margin moving the nine-month EBITDA to 42.5 billion liras, up 25.4 percent year-on-year with a 38.9 percent margin.

“Although standing broadly in line with our expectations, third quarter performance is thrilling with outstanding KPIs (key performance indicators) across the board. Revenue growth has picked-up as we have foreseen adding further momentum to EBITDA and cash flow generation,” said Ümit Önal, CEO of Türk Telekom.

“All our business lines except for the fixed voice segment posted real revenue growth in the third quarter, thanks to our strategies, devised to overcome macroeconomic and other challenges, paying-off in time and a reasonably fulfilling high season,” he added.

Türk Telekom closed the third quarter with 53.2 million subscribers in total, 568,000 higher from the prior quarter-end. Excluding the 233,000 loss in the fixed voice segment, total net additions surged to 800,000 with a broad acceleration across the board in the high season.

“Unabated, our focus will be on further strengthening our position in the markets we operate, augmenting our engagement with customers and preserving a vigorous financial performance,” Önal said.