Turkcell continued its digital transformation journey in 2023 and recorded remarkable growth with its expanding customer base, strong ARPU (average revenue per retail user) performance and digital services as well as the contribution of techfin activities. So how much was Turkcell’s revenue in 2023?
How much was Turkcell’s revenue in 2023?
Turkcell reached 107.1 billion TL with an annual increase of 14.6 percent in terms of group revenues in 2023, while EBITDA (Earnings Before Interest, Depreciation and Tax) increased by 19.9 percent and reached 43.9 billion TL. Net profit amounted to 12.6 billion TL, an increase of 82.5 percent compared to last year, and the ratio of investments to income remained at 21 percent.
Thanks to its customer-focused strategy and innovative offers, the company gained 1.6 million net postpaid subscribers throughout 2023, and brought fiber service to 386 thousand more households, increasing the total number of households to 5.8 million.
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The number of fiber subscribers also reached 2.3 million. In addition, the number of unique paid users of digital services such as TV+, BiP, fizy, lifebox, GAME+ and digital advertising services in the Turkcell ecosystem increased by 9 percent annually to 5.6 million, and the revenues of Digital Business Services increased by 23 percent and exceeded 10 billion TL.
Turkcell General Manager Dr. Ali Taha Koç emphasized that the company has technology leadership, innovation and entrepreneurship DNA, and stated that they target the EBITDA margin as 42 percent for 2024 and that they expect the ratio of operational investments, including data centers, renewable energy and infrastructure investments, to revenue to be 23 percent. He also stated that he will continue to invest in main focus areas such as data, energy, artificial intelligence and cyber security.
Turkcell has also demonstrated remarkable success with its techfin-oriented services such as Financell, Paycell and Wiyo. While Financell has reached 7 million unique customers to date, its loan portfolio has increased to 6.2 billion TL. Paycell, on the other hand, increased its revenues by 29 percent to 2.2 billion TL and increased the number of users to 8 million.
Koç stated that, within the scope of Turkcell’s plans to reinforce its leadership in data centers and cloud services, they aim to establish a new data center company by investing 330 million Euros and, as Turkey’s largest data operator, they will continue to protect data against cyber threats and natural disasters.