Strong growth in mobile and fiber from Türk Telekom

Turk Telekom announced its financial and operational results for the third quarter of 2024. The company increased its consolidated revenues to 40.4 billion TL in the third quarter of 2024, marking a 15.9% increase year-on-year.

Turk Telekom announced its financial and operational results for the third quarter of 2024. With its strong performance in the third quarter of the year, Turk Telekom’s consolidated revenues increased by 15.9% year-on-year to reach 40.4 billion TL, while its EBITDA reached 16.5 billion TL with a margin of 40.8%, reflecting a 30.8% annual increase. The company’s net profit for the third quarter of 2024 was 1.1 billion TL. As of the third quarter of 2024, the total number of subscribers reached 53.2 million, and as a result of its efforts to provide high-speed internet in every corner of Turkey, the length of its fiber network increased to 459,000 kilometers. The fiber network, which covered 32.4 million households in the second quarter of 2024, reached 32.7 million households by the third quarter of 2024.

Evaluating the financial and operational results for the third quarter of 2024, Turk Telekom CEO Ümit Önal stated, “As we anticipated, the third quarter was an extraordinary period where many key performance indicators peaked. Along with the acceleration in revenue growth we expected, EBITDA and cash flow generation increased significantly. Fixed internet and mobile accounted for 74.5% of operational revenue in the third quarter.” Önal added, “In the third quarter, all our business lines, except for the fixed voice segment, recorded real revenue growth thanks to the positive effects of the high season we experienced and the fruits of the strategies we implemented to overcome macroeconomic and other challenges. Therefore, we are updating our previous EBITDA margin forecast of 36-38% to 38%. As we rapidly approach the end of the year, we are preparing for the upcoming year, which we believe will be as exciting for the company as 2024. Strengthening our position in the markets we operate in, enhancing customer experience, maintaining our strong financial performance, and continuing our investments will remain our unwavering focus.”

“We reached 27 million subscribers in mobile”
Highlighting that they have again demonstrated superior performance in mobile as a result of the strategy they have been following for a long time, Ümit Önal stated, “With our customer satisfaction-focused efforts and the right investments, we achieved significant results in this quarter in the growing mobile segment. The mobile segment gained a net of 651,000 subscribers, reaching a total customer base of 27 million. The postpaid segment outperformed its strong performance in the previous two quarters, gaining a net of 568,000 subscribers. The postpaid segment, which set a historical record, surpassed a total net subscriber gain of 2 million for the first time in the last twelve months. We continue to strengthen our position in mobile in terms of coverage and capacity day by day. We tripled our frequency ownership after the 4.5G auction. We are the market leader in terms of subscriber frequency, which is crucial for speed, and in 1800 MHz frequency ownership, which is critical for 5G. Thanks to the historically high monthly net subscriber gain we achieved in July, we maintained our leadership in the MNT market in the third quarter, becoming the most preferred operator in this sense. 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 grow our mobile business further. In this period, where we have initiated the Fiber Mobility era by reflecting the power of our fiber network connecting all 81 provinces of Turkey to mobile, we aim to sustain our strong growth momentum.”

The fiber subscriber rate in fixed broadband approached 90%
Emphasizing that they have covered every corner of Turkey with fiber networks for accessible high-speed internet, Ümit Önal stated, “The fixed broadband base gained a net of 59,000 subscribers in the third quarter, reaching 15.3 million, while the fiber subscriber base reached 13.4 million with a net gain of 219,000 subscribers. Turk Telekom, which initiated the Fiber Mobility era by transferring its strength in fiber to mobile, increased the LTE mobile base station rate connected to fiber to 53%. Our FTTC subscriber count reached 8.5 million, while our FTTH/B subscriber count increased to 4.9 million. The share of our fiber subscribers within the total fixed broadband subscribers increased from 83.3% last year to 87.9%. Our fiber network length increased from 449,000 km in the second quarter to 459,000 km. The fiber network, which covered 32.4 million households in the second quarter, reached 32.7 million households by the end of the third quarter. FTTC household coverage reached 19.9 million, while FTTH/B household coverage rose to 12.8 million. We continue to invest in fiber across every corner of Turkey without interruption for the construction of a digital future.”

Stating that they offer world-class solutions in the field of cybersecurity with continuously renewed products and services, Önal said, “At Turk Telekom Cyber Security Center, which has the widest protection capacity in Turkey, we support our customers with over 250 expert engineers in their fields. We have proven our leadership in this field with international certifications. We are the only institution in Turkey accredited in three areas of cybersecurity by the certification body CREST. Additionally, we continue our determined efforts to localize products with the vision of using domestic and national products. We have increased the replacement rate with domestic and national solutions, which was 26% in 2018, to 65% by 2023. We will continue to provide high-standard solutions to our customers in all stages of data transmission, storage, and protection, while enriching our product portfolio by supporting the domestic ecosystem.”

For a greener future with innovative and eco-friendly technologies
Önal stated, “With our uninterrupted investments in both fiber and mobile technologies across Turkey, we are taking on a leading role in the country’s digital transformation. While building Turkey’s digital future, we are conducting studies in line with the United Nations Sustainable Development Goals with the aim of preparing a better world for tomorrow. As of 2023, we have achieved an energy saving of 47 GWh thanks to our energy efficiency projects, while we have increased the total capacity of our renewable energy systems to 4.3 MW. We are accelerating our renewable energy investments with an installed power capacity permit of 405.8 MWe. This capacity will meet 65% of our electricity consumption in 2023. As of 2023, we have reduced our emissions by 22%. With the Integrated Activity Report we published for the first time this year, we also highlighted the environmental impact, social benefit, digital equality, and contribution to the economy of our sustainability strategies. All emissions calculations have been verified by an independent third party. We aim to reduce our Scope 1 and 2 emissions by 45% by 2030 and achieve net zero emissions by 2050. With our understanding of technology that improves the future, we focus on creating value in all our areas of activity. By adopting the principle of sustainability in all areas of digital transformation, we want to leave a greener world for future generations.”