Turkcell Iletisim Hizmetleri As ( (TKC) ) has released its Q4 earnings. Here is a breakdown of the information Turkcell Iletisim Hizmetleri As presented to its investors.
Turkcell Iletisim Hizmetleri AS, a leading telecommunications company in Turkey, operates in the mobile communications sector, providing a range of services including GSM, 3G, and 4.5G technologies. The company is known for its extensive network coverage and innovative service offerings.
In its latest earnings report, Turkcell reported a significant increase in total revenue, reaching TRY 166.67 billion for the year ended December 31, 2024, up from TRY 154.65 billion in the previous year. The company’s profit for the year also saw a substantial rise, amounting to TRY 23.51 billion compared to TRY 18.09 billion in 2023.
Key financial highlights include a notable growth in gross profit, which increased to TRY 41.13 billion from TRY 32.77 billion the previous year. This improvement was driven by a combination of increased revenue from both telecommunications and financial services. The company also managed to reduce its net finance costs significantly, which contributed positively to its overall profitability.
Despite the positive financial performance, Turkcell faced challenges with its foreign operations, as evidenced by the exchange differences on translation of foreign operations, which negatively impacted other comprehensive income. Nevertheless, the company’s equity position strengthened, with retained earnings rising to TRY 142.45 billion.
Looking ahead, Turkcell’s management remains optimistic about the company’s growth prospects, focusing on expanding its service offerings and enhancing network capabilities to meet the increasing demand for mobile communications in Turkey and the region.