Turkcell announced its financial results for the third quarter of the year. Turkcell General Manager Dr. Ali Taha Koç said that Turkcell continued to grow steadily and strongly in the third quarter of the year with the contribution of its expanding customer base, digital services and techfin activities.
Turkcell’s group revenues grew by 77.3 percent on an annual basis, reaching 26 billion TL, and EBITDA increased by 88.9 percent, reaching 11.3 billion TL. Net profit amounted to 5.5 billion TL, an increase of 128.7 percent compared to the same period last year. Dr. Ali Taha Koç emphasized that Turkcell will continue its growth by using its advanced technological capabilities and innovation power.
Turkcell continues to grow in the third quarter!
Strengthening its position in the sector with its effective growth performance and customer acquisition focus, Turkcell ended the third quarter of 2023 with successful financial and operational results. Turkcell Group continues its growth in the third quarter of 2023; It increased its total revenues on a consolidated basis to 26 billion TL, an increase of 77.3 percent compared to the third quarter of last year.
The company’s EBITDA increased by 88.9 percent and reached 11.3 billion TL. Turkcell’s third quarter net profit of 2023 increased by 128.7 percent and reached 5.5 billion TL. Continuing its strong customer acquisition in the third quarter of 2023, Turkcell gained 586 thousand new customers on the mobile side and 57 thousand new customers on the fixed side in this quarter, thus closing the third quarter of the year with a total subscriber gain of 674 thousand. The increase in Turkcell’s total postpaid customers in the first nine months of the year was 1.1 million.
Turkcell’s new CEO has been announced!
After a 1-month break, Turkcell’s CEO was announced. According to the statement made by Dr. Ali Taha Koç became the general manager.
Turkcell General Manager Dr. Ali Taha Koçsaid in his evaluation:
“Although the inflationary environment continued in the third quarter of the year, new economic policies, the confidence of the medium-term program and the priority of the fight against inflation had positive effects on the market. Despite such a challenging period, we continued to offer a wide range of digital services by focusing on the needs of all our individual and corporate customers.
Turkcell’s high performance in the third quarter proves our company’s strong business model and customer satisfaction-oriented technological capacity. In the coming period, thanks to Turkcell’s advanced technological capabilities and innovation power, we will strengthen our position in the market, create a brighter digital future for the society, and together with all our colleagues, we will take Turkcell to the leadership of our country’s technology transformation. As Turkcell, we are determined to further our leading position in our country’s digital sovereignty.”
Strong performance in strategic focus areas
The number of unique paid users of Turkcell’s digital OTT services, which includes important brands such as TV+, lifebox, fizy and BiP, grew by 20 percent year on year and reached 5.8 million. According to BTK data, IPTV subscribers of TV+, the only platform that increased its market share in the second quarter, reached 1.4 million.
With the contribution of end-to-end customized projects for companies’ digitalization needs and data centers and cloud services, Turkcell Digital Business Services’ revenues increased by 76 percent on an annual basis in this quarter, exceeding 1.8 billion TL.
Turkey’s digital financial services platform Paycell increased its revenues to 518 million TL with an annual increase of 112.3 percent in this quarter. The volume of Paycell’s flagship “Pay Later” increased 2.6 times compared to the same period last year, reaching 2.5 billion TL.
Paycell also launched “Paycell Shopping Limit” in cooperation with Financell on Turkey’s leading e-commerce platforms in the 3rd quarter. On the other hand, Financell’s loan portfolio, which increased its access to customers serving in different areas, increased to 5.7 billion TL. With new products, projects and the increase in average interest rates, Financell’s annual revenues grew by 103.7 percent and reached 516 million TL.
Stating that they are proud to be the only company in Turkey whose science-based targets are approved by the Science Based Targets Initiative (SBTi) in the telecommunications and technology sector. Turkcell General Manager Dr. Ali Taha KoçHe stated that Turkcell, while meeting its increasing energy needs, turned to its own production of renewable energy as a source that is both compatible with its sustainability strategy and creates a cost advantage, and that Turkcell aims to meet all of the energy it consumes from the renewable energy sources it produces. Dr. Ali Taha Koç, He continued:
“As Turkcell, we also explained our strategy in the field of sustainability at the Sustainable Development Goals Investment Forum (SDG Investment Forum) held at the New York Stock Exchange within the scope of the 78th General Assembly of the United Nations.
We published our first TCFD (Task Force on Climate Related Financial Disclosures) report, which reveals our efforts to be more resilient against climate change and our risks and opportunities related to climate change. As Turkcell, in addition to using 100 percent renewable energy certified resources, we are also accelerating our investments in this field.
In this context, we took our first step with the wind power plant with 18 MW installed power that we purchased in 2021. We continue our investments with solar power plants and aim to reach an installed capacity of 300 MW within three years.
In the first phase of these investments, we plan to reach 54 MW installed power in the first half of next year. “We aim to meet 65 percent of Turkcell’s total energy consumption from our own green energy resources by 2026.”
As a result of the strong operational and financial performance demonstrated in the first nine months, Turkcell revised its 2023 year-end targets upwards. Accordingly, expectations for the end of 2023 have been updated upwards, with revenue growth of approximately 73 percent and EBITDA of approximately 39 billion TL.
The target for the ratio of operational investments to revenues to be approximately 22 percent was maintained. Turkcell General Manager Dr. Ali Taha Koç He concluded his words as follows:
“Thanks to correct planning and the strategic focus areas we determined, we successfully passed the first three quarters this year by providing uninterrupted and high quality service to our customers despite the challenging macroeconomic conditions.
We continued profitable growth and once again updated our expectations upwards. We would like to thank all our employees for their contribution to our success and our Board of Directors for their trust and support in us.
We would also like to express our gratitude to our customers and business partners who have always been with us in our success story. “On this important anniversary, where we celebrate the 100th anniversary of our Republic, we are excited to contribute to the next century together with technology and innovation.”