The following is a summary of the Turkcell Iletisim Hizmetleri A.S. (TKC) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Turkcell reported a revenue of TRY35 billion, with an EBITDA of TRY15 billion and a solid EBITDA margin of 42.6%.

• Net income was TRY2.9 billion. The company experienced inflationary pressures but demonstrated resilience through diversified business strategies.

• ARPU grew by 82% year-on-year, supporting sustained profitability despite macroeconomic challenges affecting equipment revenues and large project declines.

Business Progress:

• Turkcell added 346,000 net subscribers focusing on value-generating postpaid and fiber customer segments.

• Introduced strategic adjustments in pricing and continued to lead with innovative campaigns to maintain low churn rates and boost mobile ARPU.

• Expanded fiber network, adding 42,000 subscribers and increased the residential fiber customer base with contracted customers reaching 78%.

• Digital Services and Solutions, and Techfin segments showed growth through strategic pricing and product offerings. Paycell revenues grew by 16% and Financell's revenue rose 34%.

Opportunities:

• The company's commercial operations and strategic preparations for 5G rollout present significant growth potential especially with increased demand for high-speed data and advanced mobile services.

Risks:

• Regulatory challenges and macroeconomic pressures such as inflation and tightened government budgets affect equipment sales and large-scale projects, impacting revenue growth and operational strategies. The uncertain circumstance surrounding the regulatory permissions for 5G frequencies introduces complexity to future planning.

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