Q1 2026 Turkcell Iletisim Hizmetleri AS Earnings Call Transcript
Key Points
- Turkcell Iletisim Hizmetleri AS (TKC) successfully launched 5G nationwide, reinforcing its leadership in mobile technology.
- The company secured 25% more 5G spectrum capacity than its closest competitor, positioning it for long-term demand.
- Revenues grew by 9% year-on-year, exceeding TRY68 billion, driven by strong momentum in digital business services and subscriber acquisition.
- Group EBITDA increased to TRY28 billion with a margin of 41.4%, and net income rose by 15% to TRY4.6 billion.
- Turkcell's digital business services and Paycell segments showed robust growth, with digital business services revenue increasing by 64% year-on-year.
- Consumer revenue growth was slower at 3%, compared to the overall high single-digit revenue growth.
- Mobile ARPU remained broadly flat year-on-year due to competitive pricing and inflation impacts.
- The company faced increased FX expenses due to the first installment payment for the 5G license and higher swap transactions.
- Net debt increased to TRY49 billion, and the net leverage ratio rose to 0.42x due to high investment activities.
- The effective tax rate increased due to the absence of inflation accounting in statutory financials, impacting deferred tax.
Ladies and gentlemen, thank you for standing by. I'm Paulina, your Chorus Call operator. Welcome, and thank you for joining the Turkcell's conference call and live webcast to present and discuss the Turkcell first quarter 2026 financial results. The conference is being recorded. At this time, I would like to turn the conference over to Mrs. Ozlem Yardim, Investor Relations and Corporate Finance Director. Mrs. Yardim, you may now proceed.
Thank you, Paulina. Hello, everyone, and welcome to Turkcell's 2026 first quarter earnings call. On the call today we have our CEO, Ali Taha Koç and CFO Kamil Kalyon. They will provide an overview of our operational and financial results for the quarter, followed by a Q&A session. Before we begin, I would like to kindly remind you to review our safe harbor statement, which is available at the end of our presentation. With that, I will now turn the call over to Mr. Ali Taha.
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