Q4 2025 Turk Telekomunikasyon AS Earnings Call Transcript
Key Points
- Consolidated revenues increased by more than 14% to TRY242 billion, with a 20% year-on-year EBITDA growth, indicating strong financial performance.
- Net profit for the period more than doubled to TRY23 billion, showcasing significant profitability improvement.
- The mobile segment added 682,000 subscribers on a net basis, exceeding expectations and pushing the total base to 31.5 million.
- Fixed Internet and mobile revenues together accounted for 76% of operating revenue, contributing significantly to growth.
- Net leverage improved to 0.6 times, reflecting a strong balance sheet and reduced financial risk.
- Fixed broadband subscribers declined by 30,000 quarter-on-quarter, indicating challenges in subscriber retention.
- Churn in the wholesale segment was higher than anticipated, leading to a contraction in the total fixed broadband subscriber base.
- Mobile ARPU declined by 8.5% year-on-year, impacted by M2M additions which had a dilutive effect.
- EBITDA margin contracted by 140 basis points year-on-year to 38%, driven by growth in lower margin revenue items.
- CapEx intensity is expected to increase to 33% to 34% due to higher 5G rollout investments, indicating increased capital expenditure.
Ladies and gentlemen, thank you for standing by. I'm Costantino, your Chorus Call operator. Welcome, and thank you for joining the Turk Telekom conference call and live webcast to present and discuss the full year 2025 and fourth quarter financial and operational results. (Operator Instructions) The conference is being recorded. (Operator Instructions) We are here with the management team, and today's speaker is Omer Karademir, CFO.
Before starting, I kindly remind you to review the disclaimer on the earnings presentation. Now I would like to turn the conference over to Mr. Omer Karademir, CFO. Sir, you may now proceed.
Hello, everyone. Welcome to our 2025 fourth quarter and year-end results conference call. Thank you for joining us today.
Global markets in Q4 '25 were shaped by US tariffs and countermeasures from China and other countries. The Fed delivered a limited 25 basis points cut in December, signaling a cautious easing path for 2026. The military operation
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