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Türk Telekom, the leader of Turkey’s digital transformation, continues its innovative work and investments that will shape the future by setting world standards. Announcing its financial and operational results for the first quarter of 2024, Türk Telekom continued its strong growth momentum in its leading business lines.
While Türk Telekom increased its consolidated revenues by 6 percent on an annual basis to 28 billion TL, its EBITDA increased by 23% and reached 10.3 billion TL with a margin of 36.6%. Türk Telekom, which continues its fiber infrastructure works extending to every corner of 81 provinces and prepares Turkey for tomorrow’s technologies, increased its fiber network length to 441 thousand km as of the first quarter of 2024, while its fiber home coverage reached 32.2 million. Consolidating its rising performance in mobile in the first quarter of 2024, Türk Telekom‘s number of mobile subscribers in the same period reached 26.2 million.
Stating that they closed the year 2023 as the investment leader of the sector and made an investment of 4.6 billion TL in the first quarter of 2024, Türk Telekom CEO Ümit Önal said, “With our technology knowledge and investments, we direct Turkey’s digital transformation journey, while producing and exporting technology.” We are working with all our strength to lead the vision of becoming a country that “With the continued momentum in our leading business lines, we have made a solid start to 2024, confirming the set of predictions we shared for the whole year,” he said.
Türk Telekom announced the financial and operational results of the first quarter of 2024. Türk Telekom’s consolidated revenues increased by 6 percent on an annual basis and reached 28 billion TL. Türk Telekom’s EBITDA (earnings before interest, depreciation and tax) increased by 23 percent to 10.3 billion TL, and its EBITDA margin improved by 510 basis points compared to last year, reaching 36.6%. Türk Telekom’s net profit in the first quarter was 1 billion TL. Türk Telekom, which completed 2023 as the investment leader of its sector, made an investment of 4.6 billion TL in the first quarter of 2024.
Continuing its efforts focused on customer satisfaction, Türk Telekom’s total number of subscribers in the first quarter of the year was 52.8 million, the number of mobile subscribers was 26.2 million, and the number of fixed broadband subscribers was 15.2 million. Fixed internet and mobile constituted 72.6 percent of Türk Telekom’s operating income in the first quarter. The total increase of 2.6 billion TL in the revenues of the two business lines made a significant contribution to annual growth.
Türk Telekom continued to connect 81 provinces of Turkey with fiber networks with the understanding of “Not in one city, but in every city of the country”. Türk Telekom‘s fiber infrastructure, which is one of the essentials for tomorrow’s technologies, increased its fiber infrastructure length to 441 thousand km as of the first quarter of 2024, and its fiber home coverage reached 32.2 million. The number of fiber subscribers of Türk Telekom reached 13 million, while the number of FTTC (Fiber to the Field Cabinet) subscribers increased to 8.6 million, while the number of FTTH/B (Fiber to the Home / Building) subscribers increased to 4.5 million. The share of Türk Telekom’s fiber subscribers in total fixed broadband subscribers, which was 79.8 percent in the previous year, increased to 85.7 percent.
Stating that they made a solid start to 2024, confirming the set of predictions they shared for the whole year, Türk Telekom CEO Ümit Önal said, “We made a satisfactory start to the year with the continuing momentum in our leading business lines. When compared to 1Q’24 targets, revenue growth was in line with our expectations, while EBITDA margin was higher than our expectations. Mobile once again became the driving force of consolidated revenue growth with its superior performance despite intense competition in the market. “As we predicted, fixed broadband increased its contribution with the acceleration in ARPU growth and continued to take the necessary actions for more,” he said.
“We are ready for tomorrow’s technologies with our strong fiber network”
Underlining that they have a locomotive role in Turkey’s digital transformation journey, Önal said, “We are connecting every corner of Turkey with fiber networks with the motto of high-speed accessible internet for everyone. We continue our investments with extremely high motivation and dedication in the field of fiber, which is one of the indispensable elements for tomorrow’s technologies. Our fiber network length, which reached 441 thousand km as of the first quarter of the year, covers 32.2 million households. While our fiber subscriber number reached 13 million in the first quarter of 2024, our FTTC subscriber number reached 8.6 million, and our FTTH/B number increased to 4.5 million. We will continue to lead the vision of making the Türkiye Century, the century of digital, by reflecting our high technology experience to all areas of life. “We continue our work without slowing down for a Turkey that produces its own technology in every sector and exports it to the world,” he said.
Türk Telekom, which plays an important role in the construction of the digital future by expanding its fiber network infrastructure day by day, continues its pioneering steps in the field of mobile and 5G. Türk Telekom develops industry-leading applications by breaking new ground in many fields, from health to finance, from education to industry, from culture and arts to sports. Türk Telekom, which has carried out important work within the scope of fiberization of base stations, which is one of the most important elements for the effective use of 5G, has connected 52 percent of LTE mobile base stations with fiber, making them compatible with tomorrow’s technologies. Önal said, “With the work we have done, we are the most ready operator for 5G in Turkey. We have carried out innovative works such as Turkey’s first private industrial 5G mobile network, the first live 5G match broadcast, the first 5G-supported online remote surgery, the first smart tractor use in agriculture, and the world’s first 5G VR Puppet Theatre. “We undertake the architecture of the digital future by directing all areas of life with our technological know-how,” he said.
Türk Telekom continues to grow with its strength in mobile
Underlining that the mobile business line continues to grow in parallel with the positive reflections of its strategies in the mobile field, Önal said, “Mobile’s extraordinary performance and contribution to growth continues. The postpaid segment showed a very strong performance, recording a net subscriber increase of around 1.7 million in the last twelve months. 72.3 percent of our mobile subscribers use postpaid packages. As a result of our investments, we continue to strengthen our position in mobile in terms of coverage and capacity day by day. After the 4.5G tender, we tripled our frequency ownership. We are the market leader in frequency per subscriber, which is important for speed, and in 1800 Mhz frequency ownership, which is critical for 5G. Our growing strength in the market, driven by our customer base and high-quality infrastructure, as well as quarters of outstanding performance, encourages us to be optimistic about the potential of our mobile business. “We aim to maintain this upwardly accelerating performance throughout the year with our strategy of focusing on customer experience, by continuing to bring together our individual and corporate users with innovative solutions,” he said.
First Sustainable Bond issuance outside the financial sector
Stating that they continue their work with the vision of transforming technology into goodness and benefit, Önal said, “We continue to take environmentally friendly steps with our leading role in digital transformation by integrating sustainability principles into all our business processes with our understanding of technology that improves the future. We are proud to have recently completed the issuance of our Sustainable Bond. We made a successful issuance of USD 500 million as the first Turkish company outside the financial sector to issue Sustainable Bonds internationally within the scope of our Sustainable Financing Framework. By exporting a sustainable instrument, we aligned our financing strategy with our sustainability road map and goals. “We believe that this issuance, which we have undertaken by taking a leading role in ensuring sustainable transformation in our country, will be an important resource that will finance our company’s environmentally friendly technology investments.”
