Turkey's telecom giant posts nearly $5B revenue in 2017

Turkey's telecom giant posts nearly $5B revenue in 2017

Türk Telekom's consolidated income rose 12.6 percent to TL 18.1 billion ($4.74 billion) last year, while its net profit stood at TL 1.1 billion, the company announced on Friday.

Consolidated revenues of the country's first integrated telecommunications operator rose 12.9 percent on a yearly basis - the most since its stock market launch in 2008 - up from TL 16.11 billion in 2016.

With the contribution of its Empati program, the company gained 2.8 million new subscribers last year, with total subscribers reaching 41.7 million. Türk Telekom's earnings before interest, taxes, depreciation and amortization (EBITDA) increased 18 percent in 2017 to TL 6.45 billion and the EBITDA margin rose 1.6 points to 35.6 percent.

Last year, the company had of TL 3.2 billion of investments and its net profit reached TL 1.1 billion.

Türk Telekom's total internet subscribers increased by 1.1 million last year to 9.7 million, while its fiber-optic internet subscribers reached 2.7 million with an upsurge of 737,000. Also, the number of mobile subscribers increased by 1 million last year to 19.6 million, while the number of subscribers in the pay-TV market increased by 728,000 to 2.7 million. The company's LTE population coverage ratio rose to 83 percent in 2017, from 75 percent in 2016.

As far as Türk Telekom's targets for this year go, the company expects an increase of about 11 percent in consolidated revenues compared to the previous year. While the company expects its consolidated EBITDA to be TL 7 billion to TL 7.2 billion in 2018, it plans investment expenditures of approximately TL 3.5 billion.

Türk Telekom CEO Paul Doany said that 2017, which was marked by record growth, was a very successful year for both the Turkish economy and Türk Telekom.

Explaining that Türk Telekom continued to invest in Turkey in 2017, Doany said that the company had gathered its internet, fixed voice and mobile services under a single roof in 2016. Doany continued: "The successful growth strategies we implemented in 2017, and the strong increase in the revenues of mobile and internet segments, as well as of our new products and services that add value to the everyday lives of consumers were the driving force behind Türk Telekom's record growth in consolidated revenues." ISTANBUL / DAILY SABAH WITH AA

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