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Türk Telekomünikasyon (TTKOM) investor relations material
Türk Telekomünikasyon Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Total subscribers reached 56.2 million, up 5.6% year-over-year, with strong growth in both fixed broadband and mobile segments.
Leadership transition with a new CEO appointed on October 24, while the former CEO remains on the board.
Major strategic wins include the renewal of the fixed line services concession until 2050 and significant 5G spectrum acquisition.
Revenue for the nine months ended 30 September 2025 reached TL 165.7 billion, up 14% year-over-year, with net profit rising to TL 21.3 billion, up 69% year-over-year.
Strategic focus on FTTH expansion, 5G rollout, and digital verticals like AI, IoT, and cybersecurity.
Financial highlights
Q3 2025 revenue was TL 59.5 billion, up 11% year-over-year; nine-month revenues up 14% to TL 166 billion.
EBITDA for nine months rose 23% to TL 70.0 billion, with Q3 margin at 44.9%, up 410bps year-over-year.
Net profit reached TL 10.2 billion in Q3, up 158% year-over-year; nine-month net income exceeded TL 21.3 billion.
CAPEX for the nine months reached TL 45.1 billion, up from TL 30.4 billion in the prior year, with a CAPEX/sales ratio of 24.2%.
Net leverage improved to 0.6x, down from 1x a year ago.
Outlook and guidance
Full-year 2025 operating revenue growth guidance maintained at 10%, with CAPEX intensity at 29%.
EBITDA margin guidance revised up to 41.5% for 2025, reflecting strong Q3 performance.
Management remains cautious due to inflation outlook for Q4, with an assumed 29% inflation rate by year-end 2025.
Fixed line concession agreement extended until 2050, with a commitment to pay USD 2.5 billion plus VAT over 10 years starting in 2026.
The Group was awarded four frequency packages in the 700 MHz and 3500 MHz bands for USD 1,094 million, with payments scheduled through 2027.
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