Ukraine, Belarus devaluation pulls down Turkcell's first quarter profits

Turkcell's net profit declined by 61 percent to TL 141.6 million ($52 million) due to the devaluation observed in the countries of its international partners.

Speaking about the first-quarter profit, Turkcell's Chief Executive Officer Kaan Terzioğlu said that the decline is a result of exchange differences that arose from the devaluation in Ukraine and Belarus, the company's two partners. He said that Ukraine is important for Turkcell and a very suitable country for investment. "We assess all strategic options there. Our principal strategy is to come first or second in any market we are active in. We either dominate the market or just leave," he said. Terzioğlu said they aim to turn Turkcell into a global company. "Turkcell is open for investments and focuses on growth," Terzioğlu continued, adding that the company's organizational structure is divided into three sections - Turkcell Turkey, Turkcell International and other partners. "We are also working to export our free messaging application BİP to the world," he said.

Terzioğlu said that the company is getting ready for the introduction of 4G and 5G in Turkey. "We are a service company and ready to serve our customers, whether it is about 4G or 5G," he said, pointing to their excitement over the 4G tender. He further said that Turkcell is ready to take responsibility for 4G and 5G technologies.

Terzioğlu believes that the main problem is fiber optics infrastructure and said that digital transformation is absolutely necessary. "A proper law on digital transformation is the principal need. Legal arrangements were carried out for urban transformation projects. Today, one million houses are in the process of transformation. A similar project is necessary for our sector. To develop fiber infrastructure, a law is necessary," he concluded, highlighting that Turkcell produces global products.