Turk Telekom has revealed its financial and operational results for the third quarter of 2024.

In the third quarter of 2024, Turk Telekom raised its consolidated revenues by 15.9% annually to 40.4 billion TRY. While achieving the expected momentum with a 21.2% annual increase in fixed internet ARPU, the mobile revenue growth maintained a strong trend. Turk Telekom’s EBITDA in the third quarter increased by 30.8% annually to reach 16.5 billion TRY with a 40.8% margin, and the net profit in the third quarter was 1.1 billion TRY. With the acceleration in revenue growth, EBITDA and cash flow generation substantially increased. By transferring the strength of fiber to mobile, Turk Telekom initiated the Fiber Mobility era and reached 27 million mobile subscribers, renewing its historical record of mobile subscriber acquisition in the last twelve months. As the year-end approaches rapidly, Turk Telekom is preparing for the upcoming year with excitement, believing it will be just as eventful as 2024. Strengthening its position in the markets it operates, enhancing customer experience, maintaining strong financial performance, continuing investments will remain the unchanged focuses.

REVENUES SURGED BY 15.9% Turk Telekom disclosed its financial and operational results for the third quarter of 2024. Turk Telekom’s EBITDA increased by 30.8% annually to 16.5 billion TRY with a 40.8% margin during the third quarter, following a strong performance in the third quarter, pushing its consolidated revenues to 40.4 billion TRY with a 15.9% annual increase. In the third quarter of 2024, Turk Telekom’s net profit was 1.1 billion TRY. The total number of subscribers amounted to 53.2 million by the third quarter of 2024, and the length of its fiber network reached 459 thousand kilometers. As of the third quarter of 2024, the fiber network, covering 32.4 million households in the second quarter, reached 32.7 million households in the third quarter. Turk Telekom CEO Ümit Önal stated, “As expected, the third quarter was an extraordinary period where many key performance indicators peaked. With the anticipated acceleration in revenue growth, EBITDA and cash flow generation significantly increased. Fixed internet and mobile accounted for 74.5% of operational revenue in the third quarter.” Önal added, “With the strategies we have implemented to overcome macroeconomic challenges and other difficulties, and the positive effects felt due to the high season, we experienced real revenue growth. Therefore, we are updating our previously estimated EBITDA margin of 36-38% to 38%. As the year-end approaches rapidly, Turk Telekom is preparing for the upcoming year with excitement, believing it will be just as eventful as 2024. Strengthening our position in the markets we operate, enhancing customer experience, maintaining strong financial performance, continuing investments will remain our unchanged focuses.”

27 MILLION SUBSCRIBERS IN MOBILE Önal also mentioned, “In the mobile segment, which continues to grow with customer satisfaction-oriented efforts and the right investments, we achieved significant results in this quarter as well. The mobile segment, gaining 651 thousand net subscribers, reached a total customer base of 27 million. The postpaid segment gained 568 thousand net subscribers. The postpaid segment, renewing its historical record, for the first time surpassed 2 million in total net subscriber acquisitions in the last twelve months. We continue to strengthen our position in mobile in terms of coverage and capacity. Following the 4.5G auction, we tripled our frequency ownership. We are the market leader in the critical 1800 Mhz frequency ownership, which is essential for speed and critical for 5G. Thanks to the historic high monthly net subscriber acquisition we achieved in July, we maintained our leadership in the MNT market in the third quarter, being the most preferred operator. With these gains, which are a result of the investments we have made over the years and the accumulation we have achieved, we will continue to expand our mobile business unit.”