Turkcell announced revenues grew 23.4% to TRY35.92 billion (USD2.64 billion) in full-year 2021 results which were supported by ‘upsell efforts, price adjustments, and subscriber growth as well as the contribution of the fintech business, international operations, and equipment sales’.
EBITDA was. up 22.4% leading to an EBITDA margin of 41.8%; EBIT up 22.7% resulting in an EBIT margin of 21.5%. Net income up 18.7% mainly on the back of robust operational performance and prudent financial risk management as well as the deferred tax income impact that resulted from revaluation of assets.
Meanwhile, Turkcell subscriber base was up by 2.7 million net additions, which is the operator's highest performance since 2007. The operator claimed 1.7 million mobile postpaid net additions and 0.5 million mobile prepaid net additions.
The provider claimed 258,000 fixed subscription net additions at Turkcell Superonline represented the highest figure since 2017, and included 223,000 fibre net additions, as the operator recorded 653,000 new fibre network home-passes in the year. The operator posted a mobile ARPU growth of 13.4% and residential fibre ARPU growth of 10.6%.
Turkcell CEOMurat Erkan said: "2021 was a year of recovery for the whole world after 2020 when social and economic challenges arising from the COVID-19 pandemic prevailed. The first half of the year, overshadowed by variants of COVID-19 and the measures taken against them continued to impact social life and business activities. Thanks to widespread vaccination programmes in the second half of the year, rapid normalisation has begun in our country, as in most parts of the world. Those changes throughout the year have re-shaped our lives and consumer behaviour alike."
Murat added: "Meanwhile, two prevailing basic needs, which do not change but rise in importance, were namely “communication” and “digitalization”. As Turkcell, we believe that we are the leading brand that addresses these needs with our competencies and comprehensive ecosystem realising a well-positioned strategy."