Türkiye's telecoms operator, Türk Telekom Group, announced on Wednesday its financial results for the first quarter, indicating a robust start to 2025 as its revenues jumped by over 18% compared to the same period last year.
In a statement to the Public Disclosure Platform (KAP), Türk Telekom said its consolidated revenues surged by 18.3% year-over-year to TL 45.6 billion ($1.18 billion) from TL 38.5 billion in January through March 2024.
Net income came in at TL 5.1 billion, rising by 45.2% on an annual basis, it said.
"We made a spectacular start to the year, primarily driven by the maintained strength in fixed internet and mobile performances. The ongoing disinflation process has nicely supported the operational performance along with a strong revenue generation versus a relatively mild opex evolution in the first quarter, despite the regular personnel salary adjustment we implemented at the beginning of the year," Türk Telekom CEO Ümit Önal said.
"We have been closely watching the recent developments and market volatility to assess their potential impact on the subscriber behavior and our businesses, which has seemingly been absent so far," he added.
As such, Önal said that the company stands "confident" about the 2025 guidance it shared earlier, adding, however, they remain "alert on both the local and global news flow ahead to prepare ourselves for different scenarios from our base case."
Türkiye Wealth Fund (TWF), the nation's sovereign fund, is the majority shareholder of Türk Telekom with a 61.68% stake.
The shares of Türk Telekom edged up by 1.02% to TL 54.55 on Thursday morning, following the announcement of quarterly results.
