Turkcell, one of Türkiye’s biggest telecommunications and technology services providers, turned back into profit in the second quarter of the year, it said on Thursday.
Turkcell posted a net profit of TL 2.9 billion (around $85 million) in the April-June period, compared to a loss of TL 820.4 million in the same period last year, it said in a statement
The only Turkish company simultaneously listed on both the Istanbul and New York stock exchanges attributed the profit surge to lower foreign exchange losses and effective risk management.
Revenue for the second quarter totaled TL 33.34 billion, slightly down from TL 33.72 billion a year ago.
Still, Turkcell touted strong growth in its customer base and operational performance.
Its total number of subscribers in Türkiye reached 43.2 million, bolstered by a net addition of 346,000 subscribers in the second quarter.
The postpaid subscriber base increased by 477,000, contributing to a total gain of 1.8 million postpaid customers over the past year.
Turkcell achieved group revenues of TL 34.9 billion from April through June.
It reported an earnings before interest, taxes, depreciation, and amortization (EBITDA) of TL 14.9 billion. The EBITDA margin came in at 42.6%.
Ali Taha Koç, CEO of Turkcell, highlighted what he said was the company’s successful operational performance and strategic focus on customer-centric innovation.
“Our customer-focused actions, superior service quality, and value propositions helped us achieve a net addition of 346,000 mobile subscribers in the second quarter,” Koç said in the statement.
He also emphasized operations beyond telecommunications, including ventures in data center operations, renewable energy, artificial intelligence, and cybersecurity.
“We are committed to expanding our position as an end-to-end technology provider and building a future where technology drives progress,” Koç added.
Koç also elaborated on the sale of the company's subsidiaries in Ukraine, a process completed earlier this week.
He said the sale is part of Turkcell's broader strategy to evaluate its portfolio and take strategic actions.
“We concluded the sale of our Ukrainian assets, which we announced at the end of 2023, bringing in an initial foreign currency inflow of $524.3 million. Considering the increasingly challenging conditions in Ukraine since 2022, we are pleased to have successfully completed this process,” Koç said.
“Our focus is now on new investments that will contribute to Türkiye’s digital transformation,” he added.
