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Fourth Quarter and Full Year 2013 Results
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Content
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HIGHLIGHTS
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3
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COMMENTS FROM THE CEO, SUREYYA CILIV
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4
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FINANCIAL AND OPERATIONAL REVIEW
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FINANCIAL REVIEW OF TURKCELL GROUP
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6
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OPERATIONAL REVIEW IN TURKEY
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10
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OTHER DOMESTIC AND INTERNATIONAL OPERATIONS
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ASTELIT
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12
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TURKCELL SUPERONLINE
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12
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FINTUR
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13
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TURKCELL GROUP SUBSCRIBERS
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14
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OVERVIEW OF THE MACROECONOMIC ENVIRONMENT
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14
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RECONCILIATION OF NON-GAAP FINANCIAL MEASUREMENTS
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15
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·
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Please note that all financial data is consolidated and comprises that of Turkcell Iletisim Hizmetleri A.S., (the “Company”, or “Turkcell”) and its subsidiaries and associates (together referred to as the “Group”). All non-financial data is unconsolidated and comprises Turkcell only figures. The terms “we”, “us”, and “our” in this press release refer only to the Company, except in discussions of financial data, where such terms refer to the Group, and where context otherwise requires.
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·
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In this press release, a year on year comparison of our key indicators is provided and figures in parentheses following the operational and financial results for the year end 2013 refer to the same item at the year end of 2012 and figures in parentheses following the operational and financial results for the fourth quarter of 2013 refer to the same item in the fourth quarter of 2012. For further details, please refer to our consolidated financial statements and notes as at and for the year ended December 31, 2013, which can be accessed via our website in the investor relations section (www.turkcell.com.tr).
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Please note that selected financial information presented in this press release for the fourth quarters and year end of 2013 and 2012, both in TRY and US$ is based on IFRS figures.
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In the tables used in this press release totals may not foot due to rounding differences. The same applies for the calculations in the text.
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Fourth Quarter and Full Year 2013 Results
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Turkcell Group delivered a solid performance in 2013. The Group, excluding the MTR cut and one-off impacts, reached revenues of TRY11,637 million and EBITDA of TRY3,585 million, both rising by 11%.
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On a reported basis, Turkcell Group, registering 9% growth, posted revenues of TRY11,408 million (TRY10,507 million). Group EBITDA1 rose by 9% to TRY3,544 million (TRY3,242 million), while the Group EBITDA margin rose slightly to 31.1% (30.9%).
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Turkcell’s mobile business in Turkey recorded 5% revenue and EBITDA growth, reaching TRY9,123 million (TRY8,724 million) and TRY2,832 million (TRY2,710 million), respectively, while the EBITDA margin was at 31.0% (31.1%).
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o
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Mobile broadband revenues grew by 38% to TRY1,437 million (TRY1,040 million).
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o
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Voice revenues2 were slightly up by 0.3% to TRY6,460 million (TRY6,442 million).
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·
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Subsidiaries3 grew their revenues by 28% to TRY2,285 million (TRY1,783 million) and EBITDA by 34% to TRY712 million (TRY532 million), increasing their profitability.
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Group net income increased by 12% to TRY2,326 million (TRY2,079 million).
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·
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Turkcell Group revenues would be TRY11,637 million on 11% growth.
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·
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Turkcell’s mobile business in Turkey would be TRY9,352 million on 7% growth, including 4% growth of voice revenues.
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·
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EBITDA would be TRY3,585 million on 11% growth.
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·
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Net income would increase by 9% to TRY2,495 million.
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Turkcell Group recorded revenues of TRY2,884 million (TRY2,807 million) on a 3% rise with EBITDA1 at TRY851 million (TRY848 million) and an EBITDA margin of 29.5% (30.2%).
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Revenues of Turkcell’s mobile business in Turkey were down 2% to TRY2,240 million (TRY2,290 million), while EBITDA declined by 4% to TRY670 million (TRY702 million):
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o
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Mobile broadband revenues rose by 34% to TRY394 million (TRY295 million).
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o
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Voice revenues declined by 8% to TRY1,547 million (TRY1,675 million).
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Revenues of subsidiaries3 ramped up by 25% to TRY644 million (TRY517 million), while EBITDA increased by 24% to TRY181 million (TRY146 million).
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·
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Group net income rose by 10% to TRY505 million (TRY459 million).
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Turkcell Group revenues would be TRY3,012 million on 7% growth.
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Turkcell’s mobile business in Turkey would be TRY2,367 million on 3% growth with flat voice revenues.
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EBITDA would be TRY872 million on 3% growth.
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Net income would increase by 11% to TRY626 million.
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Fourth Quarter and Full Year 2013 Results
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Fourth Quarter and Full Year 2013 Results
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Fourth Quarter and Full Year 2013 Results
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Profit & Loss Statement
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Quarter
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Year
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(million TRY)
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Q412 | Q413 | y/y% |
FY12
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FY13
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y/y% | ||||||||||||||||||
Total Revenue
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2,807.3 | 2,883.6 | 2.7 | % | 10,507.0 | 11,407.9 | 8.6 | % | ||||||||||||||||
Direct cost of revenues1
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(1,760.1 | ) | (1,851.3 | ) | 5.2 | % | (6,487.3 | ) | (7,063.9 | ) | 8.9 | % | ||||||||||||
Direct cost of revenues1/Revenues
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(62.7 | %) | (64.2 | %) |
(1.5pp)
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(61.7 | %) | (61.9 | %) |
(0.2pp
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) | |||||||||||||
Depreciation and amortization
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(395.5 | ) | (481.6 | ) | 21.8 | % | (1,411.7 | ) | (1,594.4 | ) | 12.9 | % | ||||||||||||
Gross Margin
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37.3 | % | 35.8 | % |
(1.5pp)
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38.3 | % | 38.1 | % |
(0.2pp
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) | |||||||||||||
Administrative expenses
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(125.9 | ) | (152.0 | ) | 20.7 | % | (484.2 | ) | (550.3 | ) | 13.7 | % | ||||||||||||
Administrative expenses/Revenues
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(4.5 | %) | (5.3 | %) |
(0.8pp)
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(4.6 | %) | (4.8 | %) |
(0.2pp
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) | |||||||||||||
Selling and marketing expenses
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(469.0 | ) | (510.4 | ) | 8.8 | % | (1,705.7 | ) | (1,843.6 | ) | 8.1 | % | ||||||||||||
Selling and marketing expenses/Revenues
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(16.7 | %) | (17.7 | %) |
(1.0pp)
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(16.2 | %) | (16.2 | %) | - | ||||||||||||||
EBITDA2
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847.8 | 851.5 | 0.4 | % | 3,241.5 | 3,544.5 | 9.3 | % | ||||||||||||||||
EBITDA Margin
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30.2 | % | 29.5 | % |
(0.7pp)
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30.9 | % | 31.1 | % |
0.2pp
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||||||||||||||
EBIT
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452.3 | 369.9 | (18.2 | %) | 1,829.7 | 1,950.1 | 6.6 | % | ||||||||||||||||
Net finance income / (expense)
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79.4 | 149.7 | 88.5 | % | 467.5 | 555.3 | 18.8 | % | ||||||||||||||||
Finance expense
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(79.5 | ) | (89.7 | ) | 12.8 | % | (224.2 | ) | (204.6 | ) | (8.7 | %) | ||||||||||||
Finance income
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158.9 | 239.4 | 50.7 | % | 691.7 | 759.9 | 9.9 | % | ||||||||||||||||
Share of profit of associates
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42.5 | 75.8 | 78.4 | % | 218.5 | 297.3 | 36.1 | % | ||||||||||||||||
Other income / (expense)
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(23.9 | ) | (35.6 | ) | 49.0 | % | (105.2 | ) | (58.9 | ) | (44.0 | %) | ||||||||||||
Monetary gains / (losses)
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42.6 | 72.5 | 70.2 | % | 169.9 | 176.9 | 4.1 | % | ||||||||||||||||
Non-controlling interests
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3.2 | (7.9 | ) | (346.9 | %) | 21.0 | (3.4 | ) | (116.2 | %) | ||||||||||||||
Income tax expense
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(136.9 | ) | (119.5 | ) | (12.7 | %) | (522.5 | ) | (591.4 | ) | 13.2 | % | ||||||||||||
Net Income
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459.2 | 504.9 | 10.0 | % | 2,079.0 | 2,325.9 | 11.9 | % |
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Fourth Quarter and Full Year 2013 Results
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Quarter
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Year
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Turkcell Group - Summary of MTR cuts* and one-off** impacts
(million TRY)
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Q412 | Q413 | y/y% |
FY12
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FY13
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y/y% | ||||||||||||||||||
Revenue (reported)
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2,807 | 2,884 | 3 | % | 10,507 | 11,408 | 9 | % | ||||||||||||||||
MTR cut*
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- | (101 | ) | - | - | (202 | ) | - | ||||||||||||||||
One-off (1)
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- | (27 | ) | - | - | (27 | ) | - | ||||||||||||||||
Revenue without impacts
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2,807 | 3,012 | 7 | % | 10,507 | 11,637 | 11 | % | ||||||||||||||||
EBITDA (reported)
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848 | 851 | 0.4 | % | 3,242 | 3,544 | 9 | % | ||||||||||||||||
MTR cut*
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- | 6 | - | - | 20 | - | ||||||||||||||||||
One-off (1,2)
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- | (27 | ) | - | - | (61 | ) | - | ||||||||||||||||
EBITDA without impacts
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848 | 872 | 3 | % | 3,242 | 3,585 | 11 | % | ||||||||||||||||
Net Income (reported)
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459 | 505 | 10 | % | 2,079 | 2,326 | 12 | % | ||||||||||||||||
MTR cut*
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- | 4 | - | - | 16 | - | ||||||||||||||||||
One-off (1,2,3)
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(106 | ) | (125 | ) | - | (212 | ) | (185 | ) | - | ||||||||||||||
Net Income without impacts
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565 | 626 | 11 | % | 2,291 | 2,495 | 9 | % |
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·
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Turkcell Turkey revenues declined by 2.2%.
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o
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Voice revenues fell by 8% (nearly flat excl. MTR cut and one-off impact) to TRY1,547 million (TRY1,675 million).
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o
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Mobile broadband and services revenues increased by 12% to TRY692 million (TRY615 million), constituting 31% (27%) of Turkcell Turkey revenues.
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The revenues of subsidiaries ramped up by 25%, reaching 22% (18%) of Group revenues. In particular, Turkcell Superonline’s revenues increased by 38% to TRY262 million (TRY190 million), while Astelit’s revenues grew by 11% to US$114 million (US$103 million).
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Turkcell Turkey registered revenue growth of 5%.
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o
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Voice revenues slightly rose by 0.3% (3.8% excl. MTR cut and one-off impact) to TRY6,460 milllion (TRY6,442 million).
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o
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Mobile broadband and services revenues rose by 17% to TRY2,663 million (TRY2,282 million), comprising 29% (26%) of Turkcell Turkey revenues.
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·
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The revenues of subsidiaries rose by 28%, comprising 20% (17%) of Group revenues. Turkcell Superonline’s revenues increased by 35% to TRY925 million (TRY684 million), while Astelit’s revenues increased by 11% to US$450 million (US$405 million).
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Fourth Quarter and Full Year 2013 Results
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Quarter
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Year
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Million TRY
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Q412 | Q413 | y/y% |
FY12
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FY13
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y/y% | ||||||||||||||||||
Interconnect revenues
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314.1 | 253.2 | (19.4 | %) | 1,098.1 | 1,171.3 | 6.7 | % | ||||||||||||||||
as a % of revenues
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13.7 | % | 11.3 | % |
(2.4
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pp) | 12.6 | % | 12.8 | % |
0.2
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pp | ||||||||||||
Interconnect costs
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(308.6 | ) | (238.6 | ) | (22.7 | %) | (1,125.5 | ) | (1,118.3 | ) | (0.6 | %) | ||||||||||||
as a % of revenues
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(13.5 | %) | (10.7 | %) |
2.8
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pp | (12.9 | %) | (12.3 | %) |
0.6
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pp |
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Fourth Quarter and Full Year 2013 Results
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Quarter
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Year
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Million TRY
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Q412 | Q413 | y/y% |
FY12
|
FY13
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y/y% | ||||||||||||||||||
Current Tax expense
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(172.3 | ) | (166.7 | ) | (3.3 | %) | (564.3 | ) | (650.5 | ) | 15.3 | % | ||||||||||||
Deferred Tax Income/expense
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35.4 | 47.2 | 33.3 | % | 41.8 | 59.1 | 41.4 | % | ||||||||||||||||
Income Tax expense
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(136.9 | ) | (119.5 | ) | (12.7 | %) | (522.5 | ) | (591.4 | ) | 13.2 | % |
Net income impacts (million TRY)
|
Q412
|
FY12
|
Net income impacts (million TRY)
|
Q413
|
FY13
|
|
Net income excluding one-offs*
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565
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2,291
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Net income excluding one-offs*
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626
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2,495
|
|
A-Tel**
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(28)
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(100)
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BeST Impairment
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(61)
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(61)
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Useful Life Revision of assets
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(31)
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(31)
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ICTA Decision Regarding a Tariff***
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(41)
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(41)
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Other impacts
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(47)
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(81)
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Other impacts
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(23)
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(83)
|
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MTR impact (net of tax) above EBITDA
|
4
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16
|
||||
Net income reported
|
459
|
2,079
|
Net income reported
|
505
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2,326
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Fourth Quarter and Full Year 2013 Results
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Quarter
|
Year
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|||||||||||||||
Consolidated Cash Flow (million TRY)
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Q412 | Q413 |
FY12
|
FY13
|
||||||||||||
EBITDA1
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847.8 | 851.5 | 3,241.5 | 3,544.5 | ||||||||||||
LESS:
|
||||||||||||||||
Capex and License
|
(713.4 | ) | (818.5 | ) | (1,738.8 | ) | (1,822.3 | ) | ||||||||
Turkcell
|
(399.8 | ) | (500.2 | ) | (947.3 | ) | (1,057.8 | ) | ||||||||
Ukraine2
|
(60.6 | ) | (61.2 | ) | (138.6 | ) | (144.6 | ) | ||||||||
Investment & Marketable Securities
|
(32.6 | ) | 1.7 | 1,556.5 | (17.1 | ) | ||||||||||
Net interest Income/ (expense)
|
85.5 | 208.7 | 472.1 | 630.9 | ||||||||||||
Other
|
391.2 | 197.7 | (977.5 | ) | (978.1 | ) | ||||||||||
Net Change in Debt
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(90.4 | ) | (15.2 | ) | (293.3 | ) | (227.9 | ) | ||||||||
Cash generated / (used)
|
488.1 | 425.6 | 2,260.5 | 1,130.0 | ||||||||||||
Cash balance
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6,998.9 | 8,128.9 | 6,998.9 | 8,128.9 |
Quarter
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Year
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Summary of Operational Data
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Q412 | Q413 | y/y% |
FY12
|
FY13
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y/y% | ||||||||||||||||||
Number of total subscribers (million)
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35.1 | 35.2 | 0.3 | % | 35.1 | 35.2 | 0.3 | % | ||||||||||||||||
Postpaid
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13.2 | 14.0 | 6.1 | % | 13.2 | 14.0 | 6.1 | % | ||||||||||||||||
Prepaid
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21.9 | 21.2 | (3.2 | %) | 21.9 | 21.2 | (3.2 | %) | ||||||||||||||||
ARPU(Average Monthly Revenue per User), blended (TRY)
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21.7 | 21.3 | (1.8 | %) | 20.9 | 21.7 | 3.8 | % | ||||||||||||||||
Postpaid
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38.1 | 36.5 | (4.2 | %) | 37.7 | 37.3 | (1.1 | %) | ||||||||||||||||
Prepaid
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12.1 | 11.3 | (6.6 | %) | 11.5 | 11.8 | 2.6 | % | ||||||||||||||||
ARPU, blended (US$)
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12.2 | 10.5 | (13.9 | %) | 11.6 | 11.4 | (1.7 | %) | ||||||||||||||||
Postpaid
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21.3 | 18.0 | (15.5 | %) | 21.0 | 19.6 | (6.7 | %) | ||||||||||||||||
Prepaid
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6.8 | 5.6 | (17.6 | %) | 6.4 | 6.2 | (3.1 | %) | ||||||||||||||||
Churn (%)
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7.2 | % | 6.7 | % |
(0.5
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pp) | 27.1 | % | 27.4 | % |
0.3
|
pp | ||||||||||||
MOU (Average Monthly Minutes of Usage per Subscriber), blended
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244.1 | 257.5 | 5.5 | % | 243.3 | 259.3 | 6.6 | % |
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Fourth Quarter and Full Year 2013 Results
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Fourth Quarter and Full Year 2013 Results
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Quarter
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Year
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Astelit*
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Q412 | Q413 | y/y% |
FY12
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FY13
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y/y% | ||||||||||||||||||
Number of subscribers (million)1
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11.1 | 12.6 | 13.5 | % | 11.1 | 12.6 | 13.5 | % | ||||||||||||||||
Active (3 months)2
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8.0 | 9.2 | 15.0 | % | 8.0 | 9.2 | 15.0 | % | ||||||||||||||||
MOU (minutes)
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184.5 | 172.0 | (6.8 | %) | 189.3 | 179.0 | (5.4 | %) | ||||||||||||||||
ARPU (Average Monthly Revenue per User), blended (US$)
|
3.1 | 3.1 | - | 3.3 | 3.2 | (3.0 | %) | |||||||||||||||||
Active (3 months)
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4.3 | 4.1 | (4.7 | %) | 4.5 | 4.3 | (4.4 | %) | ||||||||||||||||
Revenue (million UAH)
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823.4 | 912.8 | 10.9 | % | 3,239.8 | 3,595.2 | 11.0 | % | ||||||||||||||||
Revenue (million US$)
|
103.0 | 114.2 | 10.9 | % | 405.4 | 449.8 | 11.0 | % | ||||||||||||||||
EBITDA (million US$)3
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27.6 | 35.2 | 27.5 | % | 114.4 | 137.1 | 19.8 | % | ||||||||||||||||
EBITDA margin
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26.8 | % | 30.8 | % |
4.0
|
pp | 28.2 | % | 30.5 | % |
2.3
|
pp | ||||||||||||
Net profit/(loss) (million US$)
|
(18.5 | ) | (2.4 | ) | (87.0 | %) | (56.1 | ) | (32.7 | ) | (41.7 | %) | ||||||||||||
Capex (million US$)
|
34.1 | 26.8 | (21.4 | %) | 77.8 | 67.8 | (12.9 | %) |
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Fourth Quarter and Full Year 2013 Results
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Quarter
|
Year
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Turkcell Superonline* (million TRY)
|
Q412 | Q413 | y/y% |
FY12
|
FY13
|
y/y% | ||||||||||||||||||
Revenue
|
190.3 | 262.1 | 37.7 | % | 684.1 | 925.2 | 35.2 | % | ||||||||||||||||
Residential
|
65.7 | 94.4 | 43.7 | % | 211.7 | 329.6 | 55.7 | % | ||||||||||||||||
% of revenues
|
34.5 | % | 36.0 | % |
1.5pp
|
30.9 | % | 35.6 | % |
4.7pp
|
||||||||||||||
Corporate
|
51.4 | 73.7 | 43.4 | % | 186.0 | 253.4 | 36.2 | % | ||||||||||||||||
% of revenues
|
27.0 | % | 28.1 | % |
1.1pp
|
27.2 | % | 27.4 | % |
0.2pp
|
||||||||||||||
Wholesale
|
73.2 | 94.0 | 28.4 | % | 286.4 | 342.3 | 19.5 | % | ||||||||||||||||
% of revenues
|
38.5 | % | 35.9 | % |
(2.6pp
|
) | 41.9 | % | 37.0 | % |
(4.9pp
|
) | ||||||||||||
EBITDA 1
|
39.2 | 64.1 | 63.5 | % | 142.5 | 237.8 | 66.9 | % | ||||||||||||||||
EBITDA Margin
|
20.6 | % | 24.4 | % |
3.8pp
|
20.8 | % | 25.7 | % |
4.9pp
|
||||||||||||||
Capex
|
159.6 | 172.1 | 7.8 | % | 451.7 | 399.1 | (11.6 | %) | ||||||||||||||||
FTTH subscribers
|
425.0 | 570.0 | 34.1 | % | 425.0 | 570.0 | 34.1 | % |
Quarter
|
Year
|
|||||||||||||||||||||||
Fintur*
|
Q412 | Q413 | y/y% |
FY12
|
FY13
|
y/y% | ||||||||||||||||||
Subscribers (million)
|
21.2 | 21.5 | 1.4 | % | 21.2 | 21.5 | 1.4 | % | ||||||||||||||||
Kazakhstan
|
13.5 | 14.3 | 5.9 | % | 13.5 | 14.3 | 5.9 | % | ||||||||||||||||
Azerbaijan
|
4.4 | 4.4 | - | 4.4 | 4.4 | - | ||||||||||||||||||
Moldova
|
1.3 | 1.0 | (23.1 | %) | 1.3 | 1.0 | (23.1 | %) | ||||||||||||||||
Georgia
|
2.1 | 1.8 | (14.3 | %) | 2.1 | 1.8 | (14.3 | %) | ||||||||||||||||
Revenue (million US$)
|
541 | 527 | (2.6 | %) | 2,027 | 2,036 | 0.4 | % | ||||||||||||||||
Kazakhstan
|
331 | 322 | (2.7 | %) | 1,221 | 1,233 | 1.0 | % | ||||||||||||||||
Azerbaijan
|
151 | 151 | - | 579 | 584 | 0.9 | % | |||||||||||||||||
Moldova
|
21 | 20 | (4.8 | %) | 79 | 79 | - | |||||||||||||||||
Georgia
|
38 | 35 | (7.9 | %) | 148 | 140 | (5.4 | %) | ||||||||||||||||
Fintur’s contribution to Group’s net income (million US$)
|
27 | 37 | 37.0 | % | 143 | 156 | 9.1 | % |
![]() |
Fourth Quarter and Full Year 2013 Results
|
Turkcell Group Subscribers (million)
|
2012
|
2013
|
y/y% | |||||||||
Turkcell Turkey
|
35.1 | 35.2 | 0.3 | % | ||||||||
Ukraine
|
11.1 | 12.6 | 13.5 | % | ||||||||
Fintur
|
21.2 | 21.5 | 1.4 | % | ||||||||
Northern Cyprus
|
0.4 | 0.4 | 0.0 | % | ||||||||
Belarus
|
1.1 | 1.2 | 9.1 | % | ||||||||
Turkcell Europe
|
0.3 | 0.4 | 33.3 | % | ||||||||
TURKCELL GROUP
|
69.2 | 71.3 | 3.0 | % |
Quarter
|
Year
|
|||||||||||||||||||||||
Q412 | Q413 | y/y% |
FY12
|
FY13
|
y/y% | |||||||||||||||||||
TRY / US$ rate
|
||||||||||||||||||||||||
Closing Rate
|
1.7826 | 2.1343 | 19.7 | % | 1.7826 | 2.1343 | 19.7 | % | ||||||||||||||||
Average Rate
|
1.7854 | 2.0302 | 13.7 | % | 1.7913 | 1.9094 | 6.6 | % | ||||||||||||||||
Consumer Price Index (Turkey)
|
2.7 | % | 2.3 | % |
(0.4pp
|
) | 6.2 | % | 7.4 | % |
1.2pp
|
|||||||||||||
GDP Growth (Turkey)
|
1.4 | % |
n.a.
|
n.a.
|
2.2 | % |
n.a.
|
n.a.
|
||||||||||||||||
UAH/ US$ rate
|
||||||||||||||||||||||||
Closing Rate
|
7.99 | 7.99 | - | 7.99 | 7.99 | - | ||||||||||||||||||
Average Rate
|
7.99 | 7.99 | - | 7.99 | 7.99 | - | ||||||||||||||||||
BYR/ US$ rate
|
||||||||||||||||||||||||
Closing Rate
|
8,570 | 9,510 | 11.0 | % | 8,570 | 9,510 | 11.0 | % | ||||||||||||||||
Average Rate
|
8,548 | 9,282 | 8.6 | % | 8,326 | 8,883 | 6.7 | % |
![]() |
Fourth Quarter and Full Year 2013 Results
|
Quarter
|
Year
|
|||||||||||||||||||||||
Turkcell Group (million US$)
|
Q412 | Q413 | y/y% |
FY12
|
FY13
|
y/y% | ||||||||||||||||||
EBITDA
|
474.8 | 420.4 | (11.5 | %) | 1,808.4 | 1,858.0 | 2.7 | % | ||||||||||||||||
Income tax expense
|
(76.6 | ) | (59.4 | ) | (22.5 | %) | (291.5 | ) | (310.7 | ) | 6.6 | % | ||||||||||||
Other operating income / (expense)
|
25.0 | (16.9 | ) | (167.6 | %) | 17.5 | (29.2 | ) | (266.9 | %) | ||||||||||||||
Financial income
|
(2.6 | ) | 117.3 | (4611.5 | %) | 5.0 | 395.4 | 7808.0 | % | |||||||||||||||
Financial expense
|
(44.3 | ) | (39.1 | ) | (11.7 | %) | (125.3 | ) | (95.5 | ) | (23.8 | %) | ||||||||||||
Net increase / (decrease) in assets and liabilities
|
274 | 26.5 | (90.3 | %) | (225.8 | ) | (824.0 | ) | 264.9 | % | ||||||||||||||
Net cash from operating activities
|
650.3 | 448.8 | (31.0 | %) | 1,188.3 | 994.0 | (16.4 | %) |
Quarter
|
Year
|
|||||||||||||||||||||||
Turkcell Superonline (million TRY)
|
Q412 | Q413 | y/y% |
FY12
|
FY13
|
y/y% | ||||||||||||||||||
EBITDA
|
39.2 | 64.1 | 63.5 | % | 142.5 | 237.8 | 66.9 | % | ||||||||||||||||
Income tax expense
|
- | 35.3 | - | - | 38.4 | - | ||||||||||||||||||
Other operating income / (expense)
|
2.4 | 2.7 | 12.5 | % | 4.6 | 0.6 | (87.0 | %) | ||||||||||||||||
Financial income
|
(0.3 | ) | 3.4 | (1233.3 | %) | 10.5 | 8.7 | (17.1 | %) | |||||||||||||||
Financial expense
|
(14.6 | ) | (21.8 | ) | 49.3 | % | (42.6 | ) | (72.4 | ) | 70.0 | % | ||||||||||||
Net increase / (decrease) in assets and liabilities
|
(37.7 | ) | 15.2 | (140.3 | %) | (74.8 | ) | (106.0 | ) | 41.7 | % | |||||||||||||
Net cash from operating activities
|
(11.0 | ) | 98.9 | (999.1 | %) | 40.2 | 107.1 | 166.4 | % |
Quarter
|
Year
|
|||||||||||||||||||||||
Euroasia (million US$)
|
Q412 | Q413 | y/y% |
FY12
|
FY13
|
y/y% | ||||||||||||||||||
EBITDA
|
27.6 | 35.2 | 27.5 | % | 114.4 | 137.1 | 19.8 | % | ||||||||||||||||
Other operating income / (expense)
|
0.5 | (0.2 | ) | (140.0 | %) | 0.7 | 1.1 | 57.1 | % | |||||||||||||||
Financial income
|
1.2 | 0.4 | (66.7 | %) | 2.5 | 2.7 | 8.0 | % | ||||||||||||||||
Financial expense
|
(16.1 | ) | (9.4 | ) | (41.6 | %) | (56.3 | ) | (53.6 | ) | (4.8 | %) | ||||||||||||
Net increase / (decrease) in assets and liabilities
|
45.7 | (27.4 | ) | (160.0 | %) | 55.6 | 1 | (10.9 | ) | (119.6 | %) | |||||||||||||
Net cash from operating activities
|
58.9 | (1.4 | ) | (102.4 | %) | 116.9 | 1 | 76.4 | (34.6 | %) |
![]() |
Fourth Quarter and Full Year 2013 Results
|
Investor Relations
Tel: + 90 212 313 1888
investor.relations@turkcell.com.tr
|
Corporate Communications:
Tel: + 90 212 313 2321
Turkcell-Kurumsal-Iletisim@turkcell.com.tr
|
TURKCELL ILETISIM HIZMETLERI A.S.
CMB SELECTED FINANCIALS (TRY Million)
|
||||||||||||||||||||
Quarter Ended
|
Quarter Ended
|
Quarter Ended
|
12 Months Ended
|
12 Months Ended
|
||||||||||||||||
December 31,
|
September 30,
|
December 31,
|
December 31,
|
December 31,
|
||||||||||||||||
2012
|
2013
|
2013
|
2012
|
2013
|
||||||||||||||||
Consolidated Statement of Operations Data
|
||||||||||||||||||||
Revenues
|
||||||||||||||||||||
Communication fees
|
2,534.5 | 2,681.8 | 2,545.3 | 9,626.7 | 10,242.8 | |||||||||||||||
Commission fees on betting business
|
63.0 | 52.1 | 73.1 | 159.1 | 230.4 | |||||||||||||||
Monthly fixed fees
|
21.7 | 18.2 | 18.2 | 90.7 | 75.9 | |||||||||||||||
Simcard sales
|
6.4 | 8.9 | 7.2 | 32.9 | 29.8 | |||||||||||||||
Call center revenues and other revenues
|
181.7 | 219.7 | 239.8 | 597.6 | 829.0 | |||||||||||||||
Total revenues
|
2,807.3 | 2,980.7 | 2,883.6 | 10,507.0 | 11,407.9 | |||||||||||||||
Direct cost of revenues
|
(1,759.5 | ) | (1,754.5 | ) | (1,848.9 | ) | (6,482.1 | ) | (7,058.9 | ) | ||||||||||
Gross profit
|
1,047.8 | 1,226.2 | 1,034.7 | 4,024.9 | 4,349.0 | |||||||||||||||
Administrative expenses
|
(125.9 | ) | (140.4 | ) | (152.0 | ) | (484.2 | ) | (550.3 | ) | ||||||||||
Selling & marketing expenses
|
(469.0 | ) | (455.7 | ) | (510.4 | ) | (1,705.7 | ) | (1,843.6 | ) | ||||||||||
Other Operating Income / (Expense)
|
228.5 | 262.5 | 35.3 | 425.5 | 907.9 | |||||||||||||||
Operating profit before financing and investing costs
|
681.4 | 892.6 | 407.6 | 2,260.5 | 2,863.0 | |||||||||||||||
Income from investing activities
|
2.4 | 6.1 | 8.9 | 44.8 | 30.2 | |||||||||||||||
Expense from investing activities
|
(7.2 | ) | (10.2 | ) | (15.3 | ) | (40.0 | ) | (58.1 | ) | ||||||||||
Share of profit of equity accounted investees
|
42.5 | 92.9 | 75.8 | 218.5 | 297.3 | |||||||||||||||
Income before financing costs
|
719.1 | 981.4 | 477.0 | 2,483.8 | 3,132.4 | |||||||||||||||
Finance income
|
(133.9 | ) | - | - | 63.9 | - | ||||||||||||||
Finance expense
|
(34.0 | ) | (123.1 | ) | 85.1 | (132.0 | ) | (383.2 | ) | |||||||||||
Monetary gain/(loss)
|
42.6 | 30.6 | 72.5 | 169.9 | 176.9 | |||||||||||||||
Income before tax and non-controlling interest
|
593.8 | 888.9 | 634.6 | 2,585.6 | 2,926.1 | |||||||||||||||
Income tax expense
|
(136.8 | ) | (188.9 | ) | (120.0 | ) | (523.6 | ) | (592.4 | ) | ||||||||||
Income before non-controlling interest
|
457.0 | 700.0 | 514.6 | 2,062.0 | 2,333.7 | |||||||||||||||
Non-controlling interest
|
3.2 | (1.4 | ) | (7.9 | ) | 21.0 | (3.4 | ) | ||||||||||||
Net income
|
460.2 | 698.6 | 506.7 | 2,083.0 | 2,330.3 | |||||||||||||||
Net income per share
|
0.21 | 0.32 | 0.23 | 0.95 | 1.06 | |||||||||||||||
Other Financial Data
|
||||||||||||||||||||
Gross margin
|
37.3 | % | 41.1 | % | 35.9 | % | 38.3 | % | -42.4 | % | ||||||||||
EBITDA(*)
|
847.8 | 1,016.2 | 851.5 | 3,241.5 | 3,544.5 | |||||||||||||||
Capital expenditures
|
713.4 | 449.0 | 818.5 | 1,738.8 | 1,822.3 | |||||||||||||||
Consolidated Balance Sheet Data (at period end)
|
||||||||||||||||||||
Cash and cash equivalents
|
6,998.9 | 7,703.3 | 8,128.9 | 6,998.9 | 8,128.9 | |||||||||||||||
Total assets
|
18,653.0 | 20,433.4 | 21,255.6 | 18,653.0 | 21,255.6 | |||||||||||||||
Long term debt
|
1,103.8 | 1,437.5 | 1,528.5 | 1,103.8 | 1,528.5 | |||||||||||||||
Total debt
|
3,039.6 | 3,205.4 | 3,332.5 | 3,039.6 | 3,332.5 | |||||||||||||||
Total liabilities
|
5,918.1 | 6,028.5 | 6,544.8 | 5,918.1 | 6,544.8 | |||||||||||||||
Total shareholders’ equity / Net Assets
|
12,734.9 | 14,404.9 | 14,710.8 | 12,734.9 | 14,710.8 | |||||||||||||||
TURKCELL ILETISIM HIZMETLERI A.S.
IFRS SELECTED FINANCIALS (TRY Million)
|
||||||||||||||||||||
Quarter Ended
|
Quarter Ended
|
Quarter Ended
|
12 Months Ended
|
12 Months Ended
|
||||||||||||||||
December 31,
|
September 30,
|
December 31,
|
December 31,
|
December 31,
|
||||||||||||||||
2012
|
2013
|
2013
|
2012
|
2013
|
||||||||||||||||
Consolidated Statement of Operations Data
|
||||||||||||||||||||
Revenues
|
||||||||||||||||||||
Communication fees
|
2,534.5 | 2,681.8 | 2,545.3 | 9,626.7 | 10,242.8 | |||||||||||||||
Commission fees on betting business
|
63.0 | 52.1 | 73.1 |