Net income of the leading mobile operator Turkcell surged by 29.8 percent annually to 23.5 billion Turkish Liras in 2024.
Revenue amounted to 166.7 billion liras last year, marking a 7.8 percent increase compared to 2023.
EBITDA was up 10.2 percent to 69.8 billion liras, while the EBITDA margin improved from 41 percent in 2023 to 41.9 percent.
“Despite the Turkish economy being shaped by tight monetary policies and a focus on combating inflation throughout the year, we achieved strong performance through our robust business model and strategic initiatives,” said Ali Taha Koç, its CEO.
The number of subscribers rose from 42.5 million in 2023 to 43.1 million. The company achieved 3.7 million net subscriber additions over the past three years.
The increase in group revenues was driven by strong ARPU growth, solid postpaid net additions and successful upsell efforts, the company said in a statement.
Consumer business rise was the main driver of Turkcell Türkiye’s performance, achieving 13 percent growth through price adjustments, net additions both in mobile and fixed segments,and upsell efforts, it added.
Corporate revenues declined by 3.5 percent, the company said, explaining that the challenging economic climate, which led to restrained demand, adversely affected the hardware revenues of digital business services, resulting in a 35 percent contraction.
For 2025, Turkcell targets a revenue growth between 7 to 9 percent, while its data center and cloud revenue growth target is 32 to 34 percent. It expects the EBITDA margin to be between 41 to 42 percent this year.
Source: hurriyetdailynews