[ad_1]
Turkcell increased its profit by 51% in the third quarter and announced financial results that exceed analysts’ expectations.
According to the company’s 3rd quarter balance sheet, its profit during this period was TL 1.21 billion. Analysts’ expectations were that the company announced a profit of TL 1.03 billion during this period.
In the same period, the company’s third quarter sales increased by 16 percent compared to the same quarter of 2019 and reached 7.65 billion TL. The profit before interest, depreciation and tax (EBITDA) was 3.39 billion TL and the EBITDA margin was 44.4%.
The growth in turnover per customer (ARPU) in composite furniture also reached 52 lire with an increase of 14%. Turkcell increased its postpaid customer base by 317,000 in the last quarter and the number of net-billed customers increased by 1.1 million in 9 months of the year.
Updated year-end targets
Speaking at the press conference, Turkcell CEO Murat Erkan said the company’s year-end targets have been updated.
Stating that Turkcell’s operations in Ukraine showed profitable growth in the third quarter, Erkan said revenues from the Belarus, Ukraine and TRNC operations reached ITL 658 million, an increase of 25.3% over the same. period of the previous year.
Stating that Turkcell has upgraded its end-2020 targets upward with these strong results announced by Erkan, “The company has increased its consolidated revenue growth target to the 14-15% range, the EBITDA margin target at range of 41-42% and the EBITDA margin target in the range of 20-21%. The updated targets indicate that Turkcell will meet the targets set in early 2020 despite the effects of the pandemic. ” She said.
[ad_2]
Source link
