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Turk Telekom targets 4-5% y/y revenue growth this year.

February 6, 2014

Turkey's largest telecommunications company Turk Telekom informed in a filing with Bourse Istanbul that it targets to increase its consolidated revenues by 4-5% y/y this year while targeting a consolidated EBITDA of TRY 5bn-5.2bn ( EUR 1.65bn-1.72bn) . Turk Telekom also said it plans to make investments worth TRY 2.1bn this year. Turk Telekom reported a consolidated net income of TRY 1.3bn in 2013, which translates into a 51% y/y decline from TRY 2.6bn of net income the Group had posted in 2012, driven by depreciation of TRY. The company managed to increase its consolidated turnover by 4% y/y to TRY 13.2bn in the year from TRY 12.71bn in 2012, however, its consolidated gross profit declined by 4% y/y to TRY 6.4bn due to increase in cost of sales. Turk Telekom invested a total of TRY 2.2bn last year. Turk Telekom (consolidated) Financials (bn TRY) 2012 2013 (y/y) Revenues 12.71 13.2 4% Gross Margin 6.6 6.4 -4% Operating Income 3.4 3.0 -11% Net Income 2.6 1.3 -51% Source: PDP

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Source: IntelliNews - Weekly Reports

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