Q3 2024 Turkcell Iletisim Hizmetleri AS Earnings Call Transcript
Key Points
- Turkcell Iletisim Hizmetleri AS (IST:TCELL) reported a 7% increase in top-line revenue, reaching TRY40.2 billion, driven by strong ARPU growth and solid subscriber additions.
- The company's EBITDA rose by 10% to TRY17.8 billion, delivering a robust EBITDA margin of 44.2%.
- Turkcell successfully completed the divestment of its Ukraine assets, contributing to a net income of TRY14.3 billion.
- The Techfin segment showed strong performance with Paycell revenues growing by 20%, driven by increased commissions and transaction volumes.
- Turkcell's strategic focus on fiber subscribers resulted in 47,000 net additions, with residential fiber ARPU growing by 15% year-on-year.
- Turkcell faced aggressive pricing in the mobile market, leading to a 25% price adjustment in July and increased MNP activity.
- The prepaid customer base declined by 266,000 due to the adoption of alternative data solutions, impacting tourist demand.
- Despite price adjustments, the churn rate increased to 2.2% due to market aggressiveness and life cycle closures.
- Macroeconomic headwinds pressured demand in hardware sales, resulting in a contraction compared to the previous year.
- The company anticipates a rise in CapEx intensity in the next quarter, consistent with business seasonality and infrastructure investments.
Ladies and gentlemen, thank you for standing by. I'm Constantino, your chorus call operator. Welcome, and thank you for joining the Turkcell's conference call and live webcast to present and discuss the Turkcell's third quarter 2024 financial results.
At this time, I would like to turn the conference over to Ms. Ozlem Yardim, Investor Relations and Corporate Finance Director. Ms. Yardim, you may now proceed.
Thank you, Constantino. Hello, everyone, and welcome to Turkcell's third quarter 2024 earnings call. Today, our CEO, Ali Taha Koc; and CFO, Kamil Kalyon, will be delivering a brief presentation covering operational and financial results, which will be followed by a Q&A session. Before we begin, I would like to kindly remind you to review our Safe Harbor statements available at the end of our presentation.
Now I'm handing the meeting over to Mr. Ali Taha.
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