Turkcell Iletisim Hizmetleri: First Quarter 2022 Outcomes

ISTANBUL–(BUSINESS WIRE)–Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) (BIST:TCELL):

  • Please notice that each one monetary knowledge is consolidated and contains that of Turkcell Iletisim Hizmetleri A.S. (the “Firm”, or “Turkcell”) and its subsidiaries and associates (collectively known as the “Group”), until in any other case said.
  • We’ve 4 reporting segments:

    • “Turkcell Turkey,” which contains our telecom, digital companies and digital enterprise companies associated companies in Turkey (as utilized in our earlier releases in intervals previous to Q115, this time period coated solely the cellular companies). All non-financial knowledge introduced on this press launch is unconsolidated and contains Turkcell Turkey solely figures until in any other case said. The phrases “we”, “us”, and “our” on this press launch refer solely to Turkcell Turkey, besides in discussions of economic knowledge, the place such phrases seek advice from the Group, and besides the place the context in any other case requires.
    • “Turkcell Worldwide” which contains all of our telecom and digital companies associated companies outdoors of Turkey.
    • “Techfin” which contains all of our monetary companies companies.
    • “Different” which primarily contains our non-group name middle and power companies, retail channel operations, sensible gadgets administration and client electronics gross sales via digital channels and intersegment eliminations.
  • On this press launch, a year-on-year comparability of our key indicators is supplied, and figures in parentheses following the operational and monetary outcomes for March 31, 2022, seek advice from the identical merchandise as at March 31, 2021. For additional particulars, please seek advice from our consolidated monetary statements and notes as at and for March 31, 2022, which will be accessed by way of our web site within the investor relations part (www.turkcell.com.tr).
  • Chosen monetary data introduced on this press launch for the primary and fourth quarters of 2021 and the primary quarter of 2022 is predicated on IFRS figures in TRY phrases until in any other case said.
  • Within the tables used on this press launch totals might not foot as a consequence of rounding variations. The identical applies to the calculations within the textual content.
  • Yr-on-year and quarter-on-quarter proportion comparisons showing on this press launch mirror mathematical calculation.

FINANCIAL HIGHLIGHTS

TRY million

 

Q121

Q421

Q122

y/y%

q/q%

Income

 

7,827

10,192

10,695

36.7%

4.9%

EBITDA1

 

3,306

4,212

4,302

30.1%

2.1%

EBITDA Margin (%)

 

42.2%

41.3%

40.2%

(2.0pp)

(1.1pp)

EBIT2

 

1,651

2,136

2,217

34.4%

3.8%

EBIT Margin (%)

 

21.1%

21.0%

20.7%

(0.4pp)

(0.3pp)

Web Earnings

 

1,105

1,385

803

(27.3%)

(42.0%)

FIRST QUARTER HIGHLIGHTS

  • Stable monetary efficiency:

    • Group revenues up 36.7% year-on-year on elevated ARPU progress and bigger subscriber base of Turkcell Turkey, larger contribution from worldwide operations and techfin enterprise
    • Group EBITDA up 30.1% year-on-year resulting in an EBITDA margin of 40.2%
    • EBIT up 34.4% year-on-year leading to an EBIT margin of 20.7%
    • Web earnings at TRY803 million
    • Wholesome web leverage3 degree at 1.2x
    • Quick FX place of US$204 million (broadly consistent with our FX impartial definition, which is between -US$200 million and +US$200 million)
  • Sturdy set of operational outcomes:

    • Turkcell Turkey subscriber base up by 577 thousand quarterly web additions
    • 423 thousand quarterly cellular postpaid web additions; postpaid subscriber base share at 66.7%
    • 59 thousand quarterly cellular pay as you go web additions
    • 50 thousand fastened subscriber web additions; 53 thousand fiber web additions
    • 186 thousand new fiber homepasses consistent with our annual growth plan
    • Cellular ARPU4 progress of 19.8%; residential fiber ARPU progress of 21.0%
    • Common month-to-month knowledge utilization of 4.5G subscribers at 14.7 GB in Q122; smartphone penetration at 86%
    • Digital channel’s share5 in gross sales at 21.8%
  • 2022 steerage6 maintained; income progress goal of round 30%, EBITDA goal of round TRY19 billion, and operational capex over gross sales ratio7 goal of between 20% – 21%

(1) EBITDA is a non-GAAP monetary measure. See web page 15 for the reason of how we calculate Adjusted EBITDA and its reconciliation to web earnings.

(2) EBIT is a non-GAAP monetary measure and is the same as EBITDA minus depreciation and amortization bills.

(3) Ranging from Q421, we’ve revised the definition of our web debt calculation to incorporate “monetary property at truthful worth via different complete earnings” reported beneath present and non-current property, and “monetary property at amortized price”. We consider that these property are extremely liquid and will be simply transformed to money with out vital change in worth.

(4) Excluding M2M

(5) Share of all gross sales from digital channels (together with voice, knowledge, companies & sensible gadgets) in Turkcell Turkey client gross sales (excluding fastened enterprise) and gear associated revenues in different phase.

(6) Please notice that this paragraph incorporates forward-looking statements primarily based on our present estimates and expectations concerning market circumstances for every of our completely different companies. No assurance will be provided that precise outcomes will likely be per such estimates and expectations. For a dialogue of things that will have an effect on our outcomes, see our Annual Report on Kind 20-F for 2021 filed with U.S. Securities and Trade Fee, and specifically, the danger issue part therein.

(7) Excluding license payment

For additional particulars, please seek advice from our consolidated monetary statements and notes as at March 31, 2022 by way of our web site within the investor relations part (www.turkcell.com.tr).

COMMENTS BY CEO, MURAT ERKAN

We step into the yr strongly, regardless of the challenges and uncertainties

Difficult macroeconomic circumstances brought on by excessive inflation, elevated power and labor prices, disruptions to the provision chain all all over the world, and worldwide political threat from the Russia-Ukraine struggle stood out within the first quarter of 2022. And in the meantime, the results of COVID-19 variants that unsettled the markets continued to be noticed, regardless of being decreased by widespread vaccination applications. Whereas the restoration in mobility began with the substantial easing of the COVID-19 restrictions in Turkey as of March, the primary considerations that stood out on this quarter have been the prevailing influence of forex depreciation within the final quarter of 2021 and the inflationary atmosphere. Then, in fact, we’re deeply saddened by the humanitarian catastrophe ensuing from the struggle that has been waged for the previous two months in Ukraine, the house of our largest worldwide subsidiary. Perceiving communication as a human proper in all circumstances, we proceed the actions of our subsidiary lifecell, and make sure the continuity of our community for seamless communication. Prevailing circumstances have made our firm confront uncertainties. And but we continued to enhance our progress, managing operations successfully with our diversified enterprise mannequin and proactive threat administration, which we applied decisively within the first quarter of the yr.

Accordingly, our consolidated revenues elevated by 36.7% year-on-year to TRY10.7 billion within the first quarter of the yr. Whereas our robust progress was pushed primarily by Turkcell Turkey’s efficiency, the worldwide and techfin segments, which grew by 101.4% and 58.5% year-on-year, respectively, additionally supported progress. EBITDA1 elevated by 30.1% to TRY4.3 billion, with an EBITDA margin of 40.2%. Web revenue was at TRY803 million. These outcomes, realized consistent with our steerage, enabled us to take a robust step right into a difficult 2022, which will likely be formed throughout the framework of worldwide political and financial uncertainties.

We serve 40 million Turkcell subscribers

Since December 2021, we’ve sought to mirror the associated fee pressures brought on by power, commodities and labor, in addition to the results of the inflationary atmosphere in our costs. Inside an analogous conjuncture within the first quarter, we maintained our give attention to inflationary pricing, introducing worth will increase in fastened broadband companies in January and in addition in cellular companies in March. Whereas rationalization prevailed available in the market as our worth will increase have been adopted by these of rivals, the decline within the MNP market additionally continued. This quarter we additionally noticed an acceleration in upsell of our present clients to larger packages. Confirming our customer-driven method, evaluation of our clients’ habits signifies that the churn fee continued to lower with the well timed actions we’ve taken.

We reached 40 million subscribers with 577 thousand web additions within the first quarter of the yr. Our sturdy and quick community, value-oriented pricing technique and model loyalty have been instrumental in clients choosing Turkcell. On the cellular entrance, we achieved 482 thousand web additions, recording 423 thousand postpaid and 59 thousand pay as you go subscriber web additions. Our postpaid buyer base reached 24.1 million, comprising 66.7% of the overall cellular subscriber base. Moreover the worth will increase, cellular blended ARPU (excluding M2M) accelerated in comparison with the earlier quarter, rising 19.8% on the again of elevated mobility, upsell efforts and a bigger postpaid subscriber base. Reflecting the success of our customer-driven method, the common month-to-month churn fee was realized at 1.6%, the bottom degree of the previous 4 years.

We observe that clients’ want for high-speed and high-quality fastened web connection has continued within the post-pandemic interval. Our fiber subscriber base registered 53 thousand quarterly web additions due to our superior community high quality and intensive gross sales channels, whereas our complete fastened broadband subscribers exceeded 2.7 million. The subscribers of our IPTV service, which is in 65 out of each 100 households amongst our residential fiber clients, exceeded 1.1 million with 44 thousand quarterly web additions. Residential fiber ARPU rose by 21.0% with worth will increase, upsell to quicker packages and elevated TV+ penetration. With the goal of accelerating our fiber rollout, within the first quarter we reached 186 thousand new fiber homepasses consistent with our plans.

We meet the wants of our clients with our strategic focus areas that enhance our inclusivity

We proceed to face by our clients with the moment messaging, TV and music platforms, private cloud companies and e-mail companies in our digital companies portfolio, the engine of our digital transformation. BiP, which has been downloaded greater than 92 million occasions so far, and the worldwide recognition of which continues to rise day-to-day, had one out of each 5 of its lively customers from overseas. TV+, our digital TV platform, has accelerated its cellular subscriber additions on this quarter due to enriched content material, its accessibility via sensible televisions and the agency progress in our TV+ Prepared product. The paid customers of Lifebox, via which we offer a cloud-based storage service, elevated by 50% in comparison with the identical interval of final yr. Moreover, we launched the user-friendly “Workplace Collaboration” characteristic in Lifebox Enterprise, the place we serve roughly one thousand company clients. With all these developments, within the first quarter, the stand-alone revenues of our Digital Companies & Options elevated by 15.3% to TRY424 million and Digital OTT service revenues elevated 46.3% year-on-year.

The entire revenues of Digital Enterprise Companies, the chief within the IT Companies market, rose 75.2% year-on-year to TRY791 million. The largest contributor to this enhance was the acceleration of end-to-end system integration tasks. Within the first quarter of the yr, we set a recent document with near a thousand new contracts signed. We’ve put into follow 2,310 system integration and managed companies tasks so far; from these we’ve a contract worth (backlog) of TRY1.9 billion to be collected over the approaching intervals. According to the demand for digital transformation accelerated by the COVID-19 pandemic, the revenues of knowledge middle and cloud applied sciences companies virtually doubled within the first quarter. We proceed efforts to fulfill this demand with a bigger capability and to remodel our nation into a number one hub of knowledge and cloud applied sciences. Inside this scope, we are going to give attention to capability will increase at our new era knowledge facilities within the upcoming interval.

We stay the pioneer of the Techfin trade with our increasing product vary

Financell and Paycell had a robust quarter, contributing to the expansion of our techfin enterprise revenues, which elevated by 58.5% within the first quarter of 2022. Financell is the pioneer of financing for technological wants. And in addition to serving particular person clients, it continues to create modern monetary options that enhance SME competitiveness with the Digital Transformation Financing program that strengthens their digital infrastructures. Reaching a mortgage portfolio of TRY2.3 billion with an annual enhance of 24%, Financell’s revenues elevated by 50.0% on this quarter with the contribution of the insurance coverage enterprise. With its superior know-how and wide selection of options Paycell, the cost platform that has swiftly tailored to new cost habits, notably remodeled through the pandemic, has seen one other profitable quarter registering 67.2% progress. Paycell’s 3-month lively customers reached 6.9 million and transaction quantity reached TRY6.7 billion, tripling on an annual foundation. The transaction quantity of “Pay Later” permitting expenditures to be mirrored on Turkcell invoices, doubled and the transaction quantity over Paycell Card rose to eightfold of the identical interval of final yr. We accelerated our efforts to increase our POS service to assist an elevated variety of retailers, and have elevated the variety of Android POS by 66% to 9.6 thousand because the earlier quarter. Contemplating the digital POS service, the transaction quantity of our POS options has doubled in comparison with the earlier quarter to TRY2.1 billion.

We proceed to face by our clients in troublesome circumstances

Throughout as of late of intense world and macroeconomic challenges, we, as Turkcell, intention to supply higher service to our clients day-to-day by sustaining our modern method. Regardless of the difficulties we’ve skilled, particularly in Ukraine, we preserve our 2022 steerage shared in February, due to our accelerated efficiency in Turkey.

I lengthen my due to all our colleagues for his or her contribution that has enabled our robust begin to the yr, and to our Board of Administrators for his or her confidence in us and invaluable assist. I additionally categorical our gratitude to our clients and enterprise companions, ever with us on our journey to success.

(1) EBITDA is a non-GAAP monetary measure. See web page 15 for the reason of how we calculate Adjusted EBITDA and it’s reconciliation to web earnings.

FINANCIAL AND OPERATIONAL REVIEW

Monetary Evaluation of Turkcell Group

Revenue & Loss Assertion (million TRY)

 

Q121

Q421

Q122

y/y%

q/q%

Income

 

7,826.5

10,191.5

10,695.0

36.7%

4.9%

Price of income1

 

(3,913.0)

(5,019.9)

(5,493.5)

40.4%

9.4%

Price of income1/Income

 

(50.0%)

(49.3%)

(51.4%)

(1.4pp)

(2.1pp)

Gross Margin1

 

50.0%

50.7%

48.6%

(1.4pp)

(2.1pp)

Administrative bills

 

(199.4)

(276.8)

(303.7)

52.3%

9.7%

Administrative bills/Income

 

(2.5%)

(2.7%)

(2.8%)

(0.3pp)

(0.1pp)

Promoting and advertising bills

 

(358.2)

(576.6)

(540.7)

50.9%

(6.2%)

Promoting and advertising bills/Income

 

(4.6%)

(5.7%)

(5.1%)

(0.5pp)

0.6pp

Web impairment losses on monetary and contract property

 

(49.5)

(106.7)

(55.1)

11.3%

(48.4%)

EBITDA2

 

3,306.5

4,211.6

4,302.0

30.1%

2.1%

EBITDA Margin

 

42.2%

41.3%

40.2%

(2.0pp)

(1.1pp)

Depreciation and amortization

 

(1,656.0)

(2,075.5)

(2,084.5)

25.9%

0.4%

EBIT3

 

1,650.5

2,136.1

2,217.5

34.4%

3.8%

EBIT Margin

 

21.1%

21.0%

20.7%

(0.4pp)

(0.3pp)

Web finance earnings / (prices)

 

(207.1)

(1,769.5)

(1,259.4)

508.1%

(28.8%)

Finance earnings

 

1,601.9

2,643.6

319.9

(80.0%)

(87.9%)

Finance prices

 

(1,809.0)

(4,413.0)

(1,579.3)

(12.7%)

(64.2%)

Different earnings / (expense)

 

(12.1)

(45.2)

14.3

n.m.

n.m.

Non-controlling pursuits

 

(0.0)

(0.1)

(0.0)

n.m.

n.m.

Share of revenue of fairness accounted investees

 

17.7

63.6

(23.4)

(232.2%)

(136.8%)

Earnings tax expense

 

(344.1)

999.7

(146.0)

(57.6%)

(114.6%)

Web Earnings

 

1,104.9

1,384.6

802.9

(27.3%)

(42.0%)

(1) Excluding depreciation and amortization bills.

(2) EBITDA is a non-GAAP monetary measure. See web page 15 for the reason of how we calculate Adjusted EBITDA and its reconciliation to web earnings.

(3) EBIT is a non-GAAP monetary measure and is the same as EBITDA minus depreciation and amortization bills.

Income of the Group grew by 36.7% year-on-year in Q122. This was pushed primarily by progress in Turkcell Turkey revenues due to the increasing subscriber base, in addition to worth changes to mirror inflationary impacts and upsell efforts resulting in larger ARPU progress in comparison with earlier quarters. A powerful contribution from Turkcell Worldwide, continued momentum in techfin and better power enterprise revenues additionally supported the topline within the first quarter.

Turkcell Turkey revenues, comprising 74.3% of Group revenues, rose 33.0% year-on-year in Q122 to TRY7,950 million (TRY5,979 million).

– Client phase revenues grew 26.9% year-on-year with the contribution of worth changes to mirror inflationary impacts, upsell efforts, and a rising subscriber base.

– Company phase revenues rose 42.7% year-on-year, pushed primarily by the robust momentum of digital enterprise companies, which grew 75.2% year-on-year with all-time excessive quarterly new contracts.

– Standalone digital companies revenues, registered as a part of the patron and company segments, grew 15.3% year-on-year in Q122. The slower progress in comparison with earlier quarters resulted from the damaging influence of the regulatory resolution that amended the utilization circumstances of our voicemail service, the revenues of that are reported beneath digital companies. Excluding this influence, the expansion would have been 36%.

– Wholesale revenues rose 71.3% year-on-year to TRY583 million (TRY340 million), primarily as a result of constructive influence of forex actions, in addition to the visitors enhance and capability upgrades of consumers.

Turkcell Worldwide revenues, constituting 13.3% of Group revenues, rose 101.4% year-on-year to TRY1,427 million (TRY708 million). lifecell was the primary driver of this efficiency because the influence of the present state of affairs on enterprise remained restricted within the first quarter. Foreign money actions additionally had a constructive influence on Turkcell Worldwide revenues.

Techfin phase revenues, comprising 3.3% of Group revenues, rose 58.5% to TRY353 million (TRY223 million). The 67.2% rise in Paycell revenues and 50.0% progress of our financing enterprise, Financell, have been the drivers of this efficiency. Please seek advice from the Techfin part for particulars.

Different subsidiaries’ revenues, at 9.0% of Group revenues, primarily together with client electronics gross sales, name middle revenues and revenues from power enterprise, elevated 5.3% to TRY966 million (TRY917 million). The decline in gear revenues was greater than compensated for by the rise in name middle and power enterprise revenues.

Price of income (excluding depreciation and amortization) elevated to 51.4% (50.0%) year-on-year as a proportion of revenues in Q122. This was due primarily to the rise in radio bills (2.2pp), principally associated to growing power costs, worker bills (0.8pp), and different price objects (1.1pp) regardless of the decline in price of products offered (2.7pp) as a proportion of revenues.

Administrative Bills rose to 2.8% (2.5%) year-on-year as a proportion of revenues in Q122. This was led by larger worker bills (0.2pp) and different price objects (0.1pp) as a proportion of revenues.

Promoting and Advertising Bills elevated to five.1% (4.6%) year-on-year as a proportion of revenues in Q122. This was due primarily to the rise in worker bills (0.3pp), promoting bills (0.1pp), and different bills (0.1pp) as a proportion of revenues.

Web impairment losses on monetary and contract property was at 0.5% (0.6%) as a proportion of revenues in Q122.

EBITDA1 rose by 30.1% year-on-year in Q122 resulting in an EBITDA margin of 40.2% (42.2%).

– Turkcell Turkey’s EBITDA rose 20.3% year-on-year to TRY3,286 million (TRY2,731 million), resulting in an EBITDA margin of 41.3% (45.7%). Rising power costs and better worker bills pressured the profitability of this phase.

– Turkcell Worldwide EBITDA elevated 107.3% year-on-year to TRY714 million (TRY345 million), driving an EBITDA margin of fifty.1% (48.6%) on a 1.5pp enchancment.

– Techfin phase EBITDA rose 31.8% year-on-year to TRY182 million (TRY138 million) with an EBITDA margin of 51.5% (62.0%). The decrease EBITDA margin was due primarily to the upper funding prices of Financell, and the altering income combine and better advertising bills of Paycell.

– The EBITDA of different subsidiaries was at TRY121 million (TRY93 million).

Depreciation and amortization bills elevated 25.9% year-on-year in Q122.

Web finance expense elevated to TRY1,259 million (TRY207 million) year-on-year in Q122. The decline in swap charges within the first quarter, which negatively impacted truthful valuation of our short-term by-product devices, and additional depreciation of the TRY resulted in larger FX losses. Decrease curiosity earnings on time deposits and a better curiosity expense on borrowings additionally led to a better web finance expense.

See Appendix A for particulars of web overseas trade achieve and loss.

Earnings tax expense declined to TRY146 million (TRY344 million) in Q122. This was pushed by a deferred tax earnings of TRY11 million registered in Q122 in comparison with a deferred tax expense of TRY181 million reported in Q121.

Web earnings of the Group was TR803 million (TRY1,105 million) in Q122. Regardless of the robust operational efficiency, the decline in web earnings resulted primarily from larger web finance expense incurred within the quarter.

(1) EBITDA is a non-GAAP monetary measure. See web page 15 for the reason of how we calculate adjusted EBITDA and its reconciliation to web earnings

Whole money & debt: Consolidated money as of March 31, 2022, elevated to TRY18,804 million from TRY18,629 million as of December 31, 2021. Our money place was positively impacted by forex actions through the quarter. Nevertheless, we switched round US$50 million of our onerous forex money to FX Protected TL Time Deposits, which is reported beneath the “Monetary property at truthful worth via different complete earnings” merchandise on our stability sheet. Excluding FX swap transactions, 76% of our money is in US$, 12% in EUR, and 10% in TRY.

Consolidated debt as of March 31, 2022, elevated to TRY40,855 million from TRY36,778 million as of December 31, 2021, due primarily to the influence of forex actions. TRY2,984 million of our consolidated debt is comprised of lease obligations. Please notice that 49% of our consolidated debt is in US$, 26% in EUR, 3% in CNY, 7% in UAH, and 14% in TRY.

Web debt1 as of March 31, 2022, was at TRY19,449 million with a web debt to EBITDA ratio of 1.2 occasions. Excluding finance firm buyer loans, our telco solely web debt was at TRY17,100 million with a leverage of 1.1 occasions.

Turkcell Group had a brief FX place of US$204 million as on the finish of the primary quarter (Please notice that this determine takes hedging portfolio and advance funds under consideration). The quick FX place of US$204 million is broadly consistent with our FX impartial definition, which is between -US$200 million and +US$200 million.

Capital expenditures: Capital expenditures, together with non-operational objects, amounted to TRY2,918 million in Q122.

For Q122, operational capital expenditures (excluding license charges) on the Group degree have been at 17.3% of complete revenues.

Capital expenditures (million TRY)

 

Q121

Q421

Q122

Operational Capex

 

1,467.9

2,686.3

1,845.3

License and Associated Prices

 

Non-operational Capex (Together with IFRS15 & IFRS16)

 

789.4

1,611.1

1,073.1

Whole Capex

 

2,257.3

4,297.4

2,918.3

(1) Ranging from Q421, we’ve revised the definition of our web debt calculation to incorporate “monetary property at truthful worth via different complete earnings” reported beneath present and non-current property, and “monetary property at amortized price”. We consider that these property are extremely liquid and will be simply transformed to money with out vital change in worth.

Abstract of Operational Information

 

Q121

Q421

Q122

y/y%

q/q%

Variety of subscribers (million)

 

37.4

39.4

40.0

7.0%

1.5%

Cellular Postpaid (million)

 

22.4

23.7

24.1

7.6%

1.7%

Cellular M2M (million)

 

2.9

3.3

3.5

20.7%

6.1%

Cellular Pay as you go (million)

 

11.6

12.0

12.0

3.4%

Fiber (thousand)

 

1,714.3

1,887.8

1,941.0

13.2%

2.8%

ADSL (thousand)

 

716.3

754.9

755.7

5.5%

0.1%

Superbox (thousand)1

 

614.6

603.6

612.4

(0.4%)

1.5%

Cable (thousand)

 

64.9

54.6

51.1

(21.3%)

(6.4%)

IPTV (thousand)

 

920.7

1,082.2

1,126.4

22.3%

4.1%

Churn (%)2

 

Cellular Churn (%)3

 

1.8%

2.5%

1.6%

(0.2pp)

(0.9pp)

Mounted Churn (%)

 

1.6%

1.6%

1.4%

(0.2pp)

(0.2pp)

ARPU (Common Month-to-month Income per Consumer) (TRY)

 

Cellular ARPU, blended

 

46.0

54.6

54.6

18.7%

Cellular ARPU, blended (excluding M2M)

 

49.9

59.5

59.8

19.8%

0.5%

Postpaid

 

57.8

68.2

67.0

15.9%

(1.8%)

Postpaid (excluding M2M)

 

65.8

78.3

77.3

17.5%

(1.3%)

Pay as you go

 

23.4

28.6

29.8

27.4%

4.2%

Mounted Residential ARPU, blended

 

73.9

82.2

88.9

20.3%

8.2%

Residential Fiber ARPU

 

74.3

83.0

89.9

21.0%

8.3%

Common cellular knowledge utilization per person (GB/person)

 

12.6

13.3

13.4

6.3%

0.8%

Cellular MoU (Avg. Month-to-month Minutes of utilization per subs) blended

 

532.0

548.7

531.1

(0.2%)

(3.2%)

(1) Superbox subscribers are included in cellular subscribers.

(2) Churn figures signify common month-to-month churn figures for the respective quarters.

(3) In Q117, our churn coverage was revised to increase from 9 months to 12 months (the interval on the finish of which we disconnect pay as you go subscribers who haven’t topped up above TRY10). Moreover, beneath our revised coverage, pay as you go clients who final topped up earlier than March are disconnected on the newest by year-end. As a regulatory requirement, we began to disconnect pay as you go traces in accordance with the brand new ICTA regulation, which requires deactivation of pay as you go traces which lack residency paperwork by the 6th month of subscription ranging from 2019. Moreover, as required by the ICTA, the road of a deceased buyer ought to both be transferred to a successor/one other person or terminated. Traces, which aren’t transferred or terminated, are to be disconnected on the finish of seven months.

In Q122, we made a stable begin to the yr in the direction of realizing our ambition of 1-million web subscriber additions in 2022. Accordingly, we registered 577 thousand quarterly web additions to our subscriber base, which reached 40.0 million. This sturdy efficiency was pushed by our customer-centric method and wealthy worth proposition to our clients.

On the cellular entrance, our subscriber base reached 36.1 million on 482 thousand quarterly web additions in Q122. The rise was pushed primarily by 423 thousand quarterly web additions to the postpaid subscriber base, which reached 66.7% (65.8%) of complete cellular subscribers. In the meantime, in Q122, we had 59 thousand web additions within the pay as you go phase.

On the fastened entrance, our fiber subscriber base expanded with 53 thousand quarterly web additions supported by our give attention to fiber community investments, and the robust demand for high-speed and high quality broadband connections. Whole fastened subscribers exceeded 2.7 million on 50 thousand quarterly web additions. In the meantime, IPTV subscribers exceeded 1.1 million on 44 thousand quarterly web additions.

In Q122, the common cellular month-to-month churn fee declined to 1.6%, the bottom degree of the previous 4 years. The decline resulted primarily from our customer-focused method, our analytical capabilities supporting buyer retention, and our pricing actions, which led to a extra rational aggressive atmosphere.

The typical month-to-month fastened churn fee decreased to 1.4% in Q122. Our superior buyer expertise ensuing from the pace and high quality we provide on our fiber infrastructure performs an vital position in sustaining a wholesome churn degree.

Our cellular ARPU (excluding M2M) rose 19.8% year-on-year in Q122, pushed primarily by pricing changes to mirror inflationary impacts, upsell efforts, and a bigger postpaid subscriber share.

Our residential fiber ARPU progress was 21.0% on a year-on-year foundation in Q122. This was pushed primarily by worth changes and upsell to larger tariffs, in addition to elevated IPTV penetration, at 65% in Q122.

Common month-to-month cellular knowledge utilization per person rose 6.3% in Q122 to 13.4 GB. The typical cellular knowledge utilization of 4.5G customers reached 14.7 GB in Q122.

Whole smartphone penetration on our community reached 86% in Q122 on a 2.4pp year-on-year rise. 92.4% of these smartphones have been 4.5G appropriate.

TURKCELL INTERNATIONAL

lifecell1 Monetary Information

Q121

Q421

Q122

y/y%

q/q%

Income (million UAH)

1,899.2

2,406.4

2,306.8

21.5%

(4.1%)

EBITDA (million UAH)

1,076.8

1,319.1

1,292.4

20.0%

(2.0%)

EBITDA margin (%)

56.7%

54.8%

56.0%

(0.7pp)

1.2pp

Web earnings (million UAH)

83.2

237.9

209.4

151.7%

(12.0%)

Capex (million UAH)

572.4

1,319.3

711.6

24.3%

(46.1%)

Income (million TRY)

508.8

996.6

1,112.6

118.7%

11.6%

EBITDA (million TRY)

288.6

544.5

623.6

116.1%

14.5%

EBITDA margin (%)

56.7%

54.6%

56.0%

(0.7pp)

1.4pp

Web earnings (million TRY)

22.4

98.1

101.0

350.9%

3.0%

(1) Since July 10,2015, we maintain a 100% stake in lifecell.

lifecell (Ukraine) revenues rose 21.5% year-on-year in Q122 in native forex phrases with an EBITDA margin of 56.0%. lifecell continued to register constructive web earnings in Q122.

lifecell revenues in TRY phrases grew 118.7% year-on-year in Q122 with a robust operational efficiency and the constructive influence of forex actions.

lifecell Operational Information

 

Q121

Q421

Q122

y/y%

q/q%

Variety of subscribers (million)2

 

9.2

10.1

10.2

10.9%

1.0%

Energetic (3 months)3

8.0

9.2

8.9

11.3%

(3.3%)

MOU (minutes) (12 months)

 

177.2

179.0

170.0

(4.1%)

(5.0%)

ARPU (Common Month-to-month Income per Consumer), blended (UAH)

 

68.1

80.2

75.6

11.0%

(5.7%)

Energetic (3 months) (UAH)

 

78.7

88.5

84.3

7.1%

(4.7%)

(2) We might sometimes supply campaigns and tariff schemes which have an lively subscriber life differing from the one which we usually use to deactivate subscribers and calculate churn.

(3) Energetic subscribers are those that previously three months made a income producing exercise.

lifecell’s focus has been on making certain the protection of its workers and persevering with to supply essential telecom companies that the Ukrainian folks want throughout this troublesome time. None of our workers have been harmed because the starting of the struggle.

Our community is basically operational, and we proceed to supply companies to our clients in Ukraine. There was no materials harm or outage within the core community. Round 10% of our almost 9 thousand base stations are briefly down on common every day as a consequence of power cut-offs. The nationwide roaming among the many three operators additionally allows the continuity of communication within the nation.

The portion of telecommunication gear and revenues earned within the area at the moment invaded by Russia is insignificant in comparison with our complete telecommunication gear and our complete income earned in Ukraine.

Round 60% of our shops are open nationwide every day common as of the top of March. Refills have been down in March by round 20% in comparison with the common of December 2021 and January 2022. There was no interruption to our ICT methods, corresponding to billing and CRM.

The banking system within the nation continues to function and day-to-day operations, together with funds and collections are exercised usually. We’ve rolled over our debt through the quarter as entry to native forex liquidity remains to be obtainable. In the meantime, our money place is conducive to maintain the operations.

We carefully monitor the developments in Ukraine and the potential influence on our operations. We repeatedly replace our company motion plans to make sure security and well being of our workers and preserve our operations. At this level, we’ve no method of predicting both the progress or the result of the state of affairs. The continuation of the state of affairs going ahead might influence our consolidated monetary situation, outcomes of operations and money flows.

BeST1

 

Q121

Q421

Q122

y/y%

q/q%

Variety of subscribers (million)

 

1.4

1.5

1.5

7.1%

Energetic (3 months)

 

1.1

1.1

1.1

Income (million BYN)

 

38.0

35.6

34.3

(9.7%)

(3.7%)

EBITDA (million BYN)

9.2

10.1

10.7

16.3%

5.9%

EBITDA margin (%)

 

24.2%

28.5%

31.1%

6.9pp

2.6pp

Web loss (million BYN)

(8.1)

(7.5)

(8.5)

4.9%

13.3%

Capex (million BYN)

 

18.0

16.7

21.5

19.4%

28.7%

Income (million TRY)

109.4

157.3

175.8

60.7%

11.8%

EBITDA (million TRY)

 

26.5

44.7

54.6

106.0%

22.1%

EBITDA margin (%)

24.2%

28.4%

31.1%

6.9pp

2.7pp

Web loss (million TRY)

 

(23.3)

(32.9)

(43.7)

87.6%

32.8%

(1) BeST, wherein we maintain an 80% stake, has operated in Belarus since July 2008.

BeST revenues declined 9.7% year-on-year in native forex phrases. This was due primarily to a contraction in handset gross sales regardless of the rise in voice, messaging, and knowledge revenues. BeST registered year-on-year EBITDA progress of 16.3% in Q122, which led to an EBITDA margin of 31.1%. The upper EBITDA margin resulted primarily from the decline in decrease margin handset gross sales. BeST’s revenues in TRY phrases grew 60.7% year-on-year in Q122 with an EBITDA margin of 31.1%.

BeST continued to increase its 4G community in Q122. BeST offers LTE service to its clients in 6 areas over 3.6 thousand websites, rising by over 200 additions through the quarter. In Q122, BeST additionally continued to increase its rural protection launching its LTE800 companies in Brest. The increasing LTE protection permits BeST to extend the penetration of its 4G subscribers. Accordingly, 4G customers comprised 73% of the 3-month lively subscriber base as of Q122. In the meantime, the common month-to-month knowledge consumption of subscribers rose 22% year-over-year to fifteen.4 GB.

In March 2022, the EU, US, UK and sure different international locations imposed new sanctions on Belarusian individuals, entities and export controls on Belarus. These might have an effect on the financial local weather in Belarus and our entry to imported gear and software program. These components might influence the monetary situation and working efficiency of our operations in Belarus.

Kuzey Kıbrıs Turkcell2 (million TRY)

Q121

Q421

Q122

y/y%

q/q%

Variety of subscribers (million)

 

0.5

0.6

0.6

20.0%

Income

61.9

90.1

96.9

56.5%

7.5%

EBITDA

 

24.5

35.3

38.3

56.3%

8.5%

EBITDA margin (%)

39.6%

39.2%

39.5%

(0.1pp)

0.3pp

Web earnings

 

9.9

25.5

21.8

120.2%

(14.5%)

Capex

 

15.7

26.6

34.9

122.3%

31.2%

(2) Kuzey Kıbrıs Turkcell, wherein we maintain a 100% stake, has operated in Northern Cyprus since 1999

Kuzey Kıbrıs Turkcell revenues elevated 56.5% year-on-year in Q122 on the again of the rise in cellular voice and roaming revenues with elevated mobility, in addition to fastened broadband and handset gross sales revenues. The EBITDA of Kuzey Kıbrıs Turkcell rose 56.3% yielding a 39.5% EBITDA margin.

TECHFIN

Paycell Monetary Information (million TRY)

 

Q121

Q421

Q122

y/y%

q/q%

Income

 

98.1

139.6

164.0

67.2%

17.5%

EBITDA

53.3

64.3

72.9

36.8%

13.4%

EBITDA Margin (%)

 

54.4%

46.1%

44.5%

(9.9pp)

(1.6pp)

Web Earnings

 

40.2

48.7

49.1

22.1%

0.8%

Paycell continued its robust progress momentum in Q122, leveraging the demand for digital funds with its various product portfolio together with cellular cost companies, in addition to Paycell card and cost facilitation options. Accordingly, the revenues of Paycell rose 67.2% year-on-year in Q122. Paycell’s EBITDA rose 36.8% year-on-year, resulting in an EBITDA margin of 44.5% in Q122. The altering income combine, plus promoting and advertising efforts have been the primary components behind the year-on-year decline in EBITDA margin.

The transaction volumes throughout Paycell’s product portfolio continued to rise in Q122. The Pay Later service transaction quantity (non-group) doubled year-on-year to TRY718 million. This was pushed by a 42% enhance within the 3-month lively customers of the Pay Later service to 4.1 million and their elevated utilization. In the meantime, Paycell continued to penetrate its cost facilitation companies through the quarter. Accordingly, the transaction quantity over bodily and digital POS companies reached TRY2.1 billion in Q122, virtually doubling in comparison with earlier quarter. The Paycell Card transaction quantity elevated to TRY1.6 billion in Q122, virtually to eightfold of the transaction quantity in Q121. General, Paycell’s complete transaction quantity throughout all companies rose 166% to TRY6.7 billion, pushed primarily by the 32% year-on-year rise in 3-month lively customers to six.9 million and their elevated utilization.

Financell Monetary Information (million TRY)

 

Q121

Q421

Q122

y/y%

q/q%

Income

 

130.0

190.4

195.0

50.0%

2.4%

EBITDA

85.3

128.9

110.0

29.0%

(14.7%)

EBITDA Margin (%)

 

65.6%

67.7%

56.4%

(9.2pp)

(11.3pp)

Web Earnings

 

95.0

109.5

65.7

(30.8%)

(40.0%)

Financell’s revenues grew 50.0% year-on-year in Q122. A bigger mortgage portfolio and a better common rate of interest on the mortgage portfolio, in comparison with the identical interval of the final yr, have been the primary drivers of this progress. Financell reported 29.0% year-on-year EBITDA progress. The decline in EBITDA margin was as a result of rise in funding prices and decrease receivable gross sales in comparison with Q121. Financell’s web earnings declined 30.8% year-on-year due primarily to the truthful valuation influence of its by-product instrument portfolio.

Financell’s mortgage portfolio elevated to TRY2.3 billion in Q122, from TRY1.9 billion in Q121, pushed by larger lending to the company phase and higher mobility. Financell’s price of threat has barely elevated from 1.0% in Q121 to 1.5% in Q122, primarily as a consequence of a decrease quantity of receivable gross sales and growth within the mortgage portfolio.

Turkcell Group Subscribers

Turkcell Group registered subscribers amounted to roughly 52.3 million as of March 31, 2022. This determine is calculated by taking the variety of subscribers of Turkcell Turkey, and of every of our subsidiaries. It contains the overall variety of cellular, fiber, ADSL, cable and IPTV subscribers of Turkcell Turkey, and the cellular subscribers of lifecell and BeST, in addition to these of Kuzey Kıbrıs Turkcell.

Turkcell Group Subscribers

Q121

Q421

Q122

y/y%

q/q%

Turkcell Turkey subscribers (million)1

37.4

39.4

40.0

7.0%

1.5%

lifecell (Ukraine)

9.2

10.1

10.2

10.9%

1.0%

BeST (Belarus)

1.4

1.5

1.5

7.1%

Kuzey Kıbrıs Turkcell

0.5

0.6

0.6

20.0%

Turkcell Group Subscribers (million)

48.6

51.6

52.3

7.6%

1.4%

(1) Subscribers to a couple of service are counted individually for every service.

OVERVIEW OF THE MACROECONOMIC ENVIRONMENT

The overseas trade charges utilized in our monetary reporting, together with sure macroeconomic indicators, are set out beneath.

 

Q121

Q421

Q122

y/y%

q/q%

GDP Development (Turkey)

7.3%

9.1%

n.a

n.a

n.a

Client Worth Index (Turkey) (yoy)

16.2%

36.1%

61.1%

44.9pp

25.0pp

US$ / TRY fee

 

 

 

 

 

Closing Price

8.3260

13.3290

14.6458

75.9%

9.9%

Common Price

7.5086

11.0757

13.8778

84.8%

25.3%

EUR / TRY fee

Closing Price

9.7741

15.0867

16.3086

66.9%

8.1%

Common Price

9.0683

12.6591

15.5203

71.1%

22.6%

US$ / UAH fee

Closing Price

27.89

27.28

29.2549

4.9%

7.2%

Common Price

28.07

26.81

28.7685

2.5%

7.3%

US$ / BYN fee

Closing Price

2.6242

2.5481

2.9732

13.3%

16.7%

Common Price

2.6112

2.5019

2.7118

3.9%

8.4%

RECONCILIATION OF NON-GAAP FINANCIAL MEASUREMENTS: We consider Adjusted EBITDA, amongst different measures, facilitates efficiency comparisons from interval to interval and administration resolution making. It additionally facilitates efficiency comparisons from firm to firm. Adjusted EBITDA as a efficiency measure eliminates potential variations brought on by variations in capital constructions (affecting curiosity expense), tax positions (such because the influence of adjustments in efficient tax charges on intervals or corporations) and the age and e book depreciation of tangible property (affecting relative depreciation expense). We additionally current Adjusted EBITDA as a result of we consider it’s steadily utilized by securities analysts, buyers and different events in evaluating the efficiency of different cellular operators within the telecommunications trade in Europe, lots of which current Adjusted EBITDA when reporting their outcomes.

Our Adjusted EBITDA definition contains Income, Price of Income excluding depreciation and amortization, Promoting and Advertising bills, Administrative bills and Web impairment losses on monetary and contract property, however excludes translation achieve/(loss), finance earnings, finance expense, share of revenue of fairness accounted investees, achieve on sale of investments, minority curiosity and different earnings/(expense).

Nonetheless, Adjusted EBITDA has limitations as an analytical instrument, and you shouldn’t contemplate it in isolation from, or as an alternative to evaluation of our outcomes of operations, as reported beneath IFRS. The next desk offers a reconciliation of Adjusted EBITDA, as calculated utilizing monetary knowledge ready in accordance with IFRS as issued by the IASB, to web revenue, which we consider is probably the most straight comparable monetary measure calculated and introduced in accordance with IFRS as issued by the IASB.

Turkcell Group (million TRY)

 

Q121

Q421

Q122

y/y%

q/q%

Adjusted EBITDA

 

3,306.5

4,211.6

4,302.0

30.1%

2.1%

Depreciation and amortization

(1,656.0)

(2,075.5)

(2,084.5)

25.9%

0.4%

EBIT

 

1,650.5

2,136.1

2,217.5

34.4%

3.8%

Finance earnings

1,601.9

2,643.6

319.9

(80.0%)

(87.9%)

Finance prices

(1,809.0)

(4,413.0)

(1,579.3)

(12.7%)

(64.2%)

Different earnings / (expense)

(12.1)

(45.2)

14.3

n.m

n.m.

Share of revenue of fairness accounted investees

17.7

63.6

(23.4)

(232.2%)

(136.8%)

Consolidated revenue earlier than earnings tax & minority curiosity

1,449.1

385.0

948.9

(34.5%)

146.5%

 

Earnings tax expense

(344.1)

999.7

(146.0)

(57.6%)

(114.6%)

Consolidated revenue earlier than minority curiosity

 

1,104.9

1,384.7

802.9

(27.3%)

(42.0%)

NOTICE: This launch contains forward-looking statements throughout the which means of Part 27A of the Securities Act of 1933, Part 21E of the Securities Trade Act of 1934 and the Secure Harbor provisions of the US Personal Securities Litigation Reform Act of 1995. This contains, specifically, our targets for income, EBITDA and capex for 2022. Extra usually, all statements apart from statements of historic info included on this press launch, together with, with out limitation, sure statements concerning the launch of recent companies, our operations, monetary place and enterprise technique might represent forward-looking statements. As well as, forward-looking statements usually will be recognized by way of forward-looking terminology corresponding to, amongst others, “will,” “count on,” “intend,” “estimate,” “consider”, “proceed” and “steerage”.

Though Turkcell believes that the expectations mirrored in such forward-looking statements are affordable right now, it may give no assurance that such expectations will show to be appropriate. All subsequent written and oral forward-looking statements attributable to us are expressly certified of their entirety by reference to those cautionary statements. For a dialogue of sure components that will have an effect on the result of such ahead trying statements, see our Annual Report on Kind 20-F for 2021 filed with the U.S. Securities and Trade Fee, and specifically the danger issue part therein. We undertake no responsibility to replace or revise any forward-looking statements, whether or not because of new data, future occasions or in any other case.

The Firm makes no illustration as to the accuracy or completeness of the knowledge contained on this press launch, which stays topic to verification, completion and alter. No accountability or legal responsibility is or will likely be accepted by the Firm or any of its subsidiaries, board members, officers, workers or brokers as to or in relation to the accuracy or completeness of the knowledge contained on this press launch or some other written or oral data made obtainable to any get together or its advisers.

ABOUT TURKCELL: Turkcell is a digital operator headquartered in Turkey, serving its clients with its distinctive portfolio of digital companies together with voice, messaging, knowledge and IPTV companies on its cellular and glued networks. Turkcell Group corporations function in 4 international locations – Turkey, Ukraine, Belarus, and Northern Cyprus. Turkcell launched LTE companies in its dwelling nation on April 1st, 2016, using LTE-Superior and three service aggregation applied sciences in 81 cities. Turkcell presents as much as 10 Gbps fiber web pace with its FTTH companies. Turkcell Group reported TRY10.7 billion income in Q122 with complete property of TRY75.3 billion as of March 31, 2022. It has been listed on the NYSE and the BIST since July 2000, and is the one NYSE-listed firm in Turkey. Learn extra at www.turkcell.com.tr.

Appendix A – Tables

Desk: Web overseas trade achieve and loss particulars

Million TRY

 

Q121

Q421

Q122

y/y%

q/q%

Web FX loss earlier than hedging

 

(1,618.1)

(4,137.2)

(1,077.5)

(33.4%)

(74.0%)

Swap curiosity earnings / (expense)

(114.5)

(89.2)

(70.8)

(38.2%)

(20.6%)

Honest worth achieve on by-product monetary devices

1,456.1

2,613.3

58.8

(96.0%)

(97.7%)

Web FX achieve / (loss) after hedging

 

(276.5)

(1,613.1)

(1,089.5)

294.0%

(32.5%)

Desk: Earnings tax expense particulars

Million TRY

 

Q121

Q421

Q122

y/y%

q/q%

Present tax expense

(163.2)

(106.6)

(157.3)

(3.6%)

47.6%

Deferred tax earnings / (expense)

(181.0)

1,106.3

11.3

(106.2%)

(99.0%)

Earnings Tax expense

 

(344.1)

999.7

(146.0)

(57.6%)

(114.6%)

TURKCELL ILETISIM HIZMETLERI A.S.
IFRS SELECTED FINANCIALS (TRY Million)
 
Quarter Ended Quarter Ended Yr Ended Quarter Ended
Mar 31, Dec 31, Dec 31, Mar 31,

2021

2021

2021

2022

 

 

 

 

Consolidated Assertion of Operations Information

 

 

 

 

Turkcell Turkey

5,978.6

7,689.4

27,223.5

7,949.7

Turkcell Worldwide

708.2

1,286.4

3,750.1

1,426.6

Fintech

222.6

329.9

1,075.7

352.9

Different

917.1

885.9

3,871.2

965.9

Whole revenues

7,826.5

10,191.5

35,920.5

10,695.0

Direct price of revenues

(5,568.9)

(7,095.4)

(25,230.0)

(7,578.0)

Gross revenue

2,257.6

3,096.2

10,690.6

3,117.0

Administrative bills

(199.4)

(276.8)

(919.0)

(303.7)

Promoting & advertising bills

(358.2)

(576.6)

(1,778.5)

(540.7)

Different Working Earnings / (Expense)

(12.1)

(45.2)

(370.0)

14.3

Web impairment loses on monetary and contract property

(49.5)

(106.7)

(271.2)

(55.1)

Working revenue earlier than financing prices

1,638.4

2,090.9

7,351.9

2,231.7

Finance prices

(1,809.0)

(4,413.0)

(6,492.9)

(1,579.3)

Finance earnings

1,601.9

2,643.6

3,592.0

319.9

Share of revenue of fairness accounted investees

17.7

63.6

90.1

(23.4)

Earnings earlier than tax and non-controlling curiosity

1,449.1

385.0

4,541.1

948.9

Earnings tax expense

(344.1)

999.7

490.2

(146.0)

Earnings from persevering with operations earlier than non-controlling curiosity

1,104.9

1,384.7

5,031.3

802.9

Discontinued operations

0.0

0.0

0.0

0.0

Non-controlling pursuits

(0.0)

(0.1)

(0.2)

(0.0)

Web earnings

1,104.9

1,384.6

5,031.1

802.9

 

 

 

 

Web earnings per share complete

0.51

0.63

2.30

0.37

 

 

 

 

Different Monetary Information

 

 

 

 

 

 

 

 

Gross margin

28.8%

30.4%

29.8%

29.1%

EBITDA(*)

3,306.5

4,211.6

15,013.8

4,302.0

Whole Capex

2,257.3

4,297.4

11,479.4

2,918.3

Operational capex

1,467.9

2,686.3

7,629.8

1,845.3

Licence and associated prices

0.0

0.0

0.0

0.0

Non-operational Capex

789.4

1,611.1

3,849.6

1,073.1

 

 

 

 

 

 

 

 

Consolidated Stability Sheet Information (at interval finish)

 

 

 

 

Money and money equivalents

13,467.0

18,628.7

18,628.7

18,804.0

Whole property

55,987.2

70,682.6

70,682.6

75,324.6

Long run debt

19,074.5

27,929.7

27,929.7

30,105.2

Whole debt

24,895.8

36,778.1

36,778.1

40,855.4

Whole liabilities

34,253.0

48,120.4

48,120.4

51,944.9

Whole shareholders’ fairness / Web Belongings

21,734.3

22,562.3

22,562.3

23,379.7

(*) Please seek advice from the notes on reconciliation of Non-GAAP Monetary measures on web page 15

For additional particulars, please seek advice from our consolidated monetary statements and notes as at 31 March 2022 on our web site

TURKCELL ILETISIM HIZMETLERI A.S.
TURKISH ACCOUNTING STANDARDS SELECTED FINANCIALS (TRY Million)
 
Quarter Ended Quarter Ended Yr Ended Quarter Ended
Mar 31, Dec 31, Dec 31, Mar 31,

2021

2021

2021

2022

 

 

 

 

Consolidated Assertion of Operations Information

 

 

 

 

Turkcell Turkey

5,978.6

7,689.4

27,223.5

7,949.7

Turkcell Worldwide

708.2

1,286.4

3,750.1

1,426.6

Fintech

222.6

329.9

1,075.7

352.9

Different

917.1

885.9

3,871.2

965.9

Whole revenues

7,826.5

10,191.5

35,920.5

10,695.0

Direct price of revenues

(5,568.9)

(7,095.4)

(25,230.0)

(7,578.0)

Gross revenue

2,257.6

3,096.2

10,690.6

3,117.0

Administrative bills

(199.4)

(276.8)

(919.0)

(303.7)

Promoting & advertising bills

(358.2)

(576.6)

(1,778.5)

(540.7)

Different Working Earnings / (Expense)

698.7

4,355.8

6,409.6

1,494.1

Working revenue earlier than financing and investing prices

2,398.8

6,598.6

14,402.7

3,766.7

Web impairment loses on monetary and contract property

(49.5)

(106.7)

(271.2)

(55.1)

Earnings from investing actions

50.7

402.6

464.1

299.2

Expense from investing actions

(47.6)

72.1

0.0

0.0

Share of revenue of fairness accounted investees

17.7

63.6

90.1

(23.4)

Earnings earlier than financing prices

2,370.1

7,030.2

14,685.7

3,987.3

Finance earnings

1,373.1

2,569.6

3,051.1

72.3

Finance expense

(2,294.1)

(9,214.8)

(13,195.7)

(3,110.7)

Earnings from persevering with operations earlier than tax and non-controlling curiosity

1,449.1

385.0

4,541.1

948.9

Earnings tax expense from persevering with operations

(344.1)

999.7

490.2

(146.0)

Earnings from persevering with operations earlier than non-controlling curiosity

1,104.9

1,384.7

5,031.3

802.9

Discontinued operations

0.0

0.0

0.0

0.0

Earnings earlier than non-controlling curiosity

1,104.9

1,384.7

5,031.3

802.9

Non-controlling curiosity

(0.0)

(0.1)

(0.2)

(0.0)

Web earnings

1,104.9

1,384.6

5,031.1

802.9

 

 

 

 

Web earnings per share from persevering with operations

0.51

0.63

2.30

0.37

 

 

 

 

Different Monetary Information

 

 

 

 

 

 

 

 

Gross margin

28.8%

30.4%

29.8%

29.1%

EBITDA(*)

3,306.5

4,211.6

15,013.8

4,302.0

Whole Capex

2,257.3

4,297.4

11,479.4

2,918.3

Operational capex

1,467.9

2,686.3

7,629.8

1,845.3

Licence and associated prices

0.0

0.0

0.0

0.0

Non-operational Capex

789.4

1,611.1

3,849.6

1,073.1

 

 

 

 

 

 

 

 

Consolidated Stability Sheet Information (at interval finish)

 

 

 

 

Money and money equivalents

13,467.0

18,628.7

18,628.7

18,804.0

Whole property

55,987.2

70,682.6

70,682.6

75,324.6

Long run debt

19,074.5

27,929.7

27,929.7

30,105.2

Whole debt

24,895.8

36,778.1

36,778.1

40,855.4

Whole liabilities

34,253.0

48,120.4

48,120.4

51,944.9

Whole shareholders’ fairness / Web Belongings

21,734.3

22,562.3

22,562.3

23,379.7

 

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