Vodafone to invest more than TL 1 billion in Turkey next year

DAILY SABAH
ISTANBUL
Published 07.06.2017 22:13

Vodafone Turkey CEO Colman Deegan has unveiled Vodafone's investment plans for Turkey. Deegan said the company pays much attention to its Turkish operations and is planning to make an investment above TL 1 billion next year, according to a report in the Sabah daily.

Having been active in the country for 10 years, Vodafone announced its future plans at a meeting of the company's top executives. Vodafone Turkey's 2016-2017 fiscal year results and future plans were disclosed at the meeting Deegan hosted.

"We have become the operator with the largest 4.5G bandwidth in Turkey and are first in the number of 4.5G customers. We had 562,000 customers of fixed broadband with 55 percent growth. Our service revenues increased 16 percent and reached to TL 8 billion [$2.26 billion]. Our EBITDA [earnings before interest, taxes, depreciation and amortization] increased to TL 2.3 billion with a 30 percent rise. We continued our investments, which neared TL 20 billion," Deegan said at the meeting.

Highlighting that Vodafone will continue investing in Turkey, Deegan also said the company has always believed in Turkey's potential. "I want to express that we trust in Turkey's future. Therefore, we are going to make an investment above TL 1 billion next year," he said.

Drawing attention to internet usage among Turkey's youth, Deegan said Turkey sets an example for the whole world with internet usage. The National Broadband Action Plan prepared by the Transportation, Maritime Affairs and Communication Ministry will enable a leap, which he said Vodafone strongly supports.

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