The following is a summary of the Turkcell Iletisim Hizmetleri A.S. (TKC) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Turkcell's Q1 revenue grew by 12% to reach TRY31 billion with a net profit of TRY2.6 billion.

• The EBITDA margin expanded by 3.8 percentage points to 41.4% due to a 23% increase in EBITDA.

• Revenue growth was complemented by a 17% increase in mobile ARPU and a 14% increase in fiber residential ARPU.

• Despite strong revenue growth, the company faced financial challenges in Q1, including a net debt increase of approximately TRY6-7 million and significant financial expenses of more than TRY5 billion due to FX losses.

Business Progress:

• Turkcell gained 333,000 new customers in Q1 2024, with notable gains in the postpaid and fiber customer segments.

• The company experienced robust growth in digital services with revenues from digital OTT services and business services on the rise. Paycell also showed substantial year-on-year revenue growth.

• Though there was a decrease in revenue from public sector clients, Turkcell plans to offset this by focusing on data centers and renewable energy investments, maintaining momentum in digital services, and supporting the digitization of companies.

• Turkcell also intends to improve its Net Promoter Scores and increase the use of their eSIM through various campaigns, specifically focusing on the roaming side.

More details: Turkcell Iletisim Hizmetleri IR

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