Turkcell, a provider of mobile communications services with subsidiaries across Eastern Europe, today announced results for the first quarter ended 31 March 2008. All financial results in this press release are unaudited, prepared in accordance with International Financial Reporting Standards (”IFRS”) and expressed in USD unless otherwise stated.
Highlights include:
- Revenue increased by 21.6 percent to USD 1,574.4 million compared to 1Q 2007 (USD 1,294.8 million).
- EBITDA increased by 12.4 percent to USD 577.0 million compared to 1Q 2007 (USD 513.3 million).
- Net income increased by 78.9 percent to USD 486.8 million compared to 1Q 2007 (USD 272.1 million).
- Turkcell’s subscriber base grew by 9 percent to 35.1 million compared to 1Q 2007 (32.2 million).
- Blended minutes of usage per subscriber increased by 17.2 percent to 73.6 minutes compared to 1Q 2007 (62.8 minutes).
- Blended average revenue per user (ARPU) increased by 9.1 percent to USD 13.2 compared to 1Q 2007 (USD 12.1).
- Astelit’s revenues increased by 111 percent to USD 90.2 million compared to 1Q 2007 (USD 42.8 million) and recorded positive EBITDA for the third consecutive quarter.