Consolidated revenues 17% up and net income doubled as compared to the Q1 19.

Türk Telekom announced financial and operational results for the first of quarter of 2020. In Q1’20, Türk Telekom’s consolidated revenues grew by 16.6% annually while EBITDA increased to TL 3.0 bn (USD 434 milion) with an EBITDA margin of 47.2%.  On the other hand, company’s net income was TL 661 mn (USD 95.8 mio) in Q1’20 as compared to TL 310 mn (USD 44.9 mio) in Q1’19.

Below you can see some operational results:

-Mobile subscriber base increased to 23.2 mn with 253K net additions in Q1’20 while total number of subs reached 48.4 mn with 563K net additions. (Türk Telekom is also running fixed telephony, mobile, fixed DSL  and fiber businesses)

– Average monthly data usage per 4G user increased to 8.2GB in Q1’20 from 6.2GB in Q1’19.

-Türk Telekom increased entry level İnternet speed from 8 Mbps to 12 Mbps.

-TT Ventures, Türk Telekom’s investment arm, acquired 12.2% of Virasoft Yazılım, a digital pathology startup.

CEO’s comment

Commenting on the results, Ümit Önal, CEO at Türk Telekom, said “During the COVID-19 epidemic, which affects the whole globe, our priority has been to provide uninterrupted communication services for our citizens required for remote working and education, as well as the telecommunication infrastructure for the public and private sector, while ensuring the health of our employees. In this period of significant increase in fixed broadband demand and data usage; our focus on best-in-class customer experience and our ever-continued fiber transformation investments across the country bear fruits”