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Turkcell (TCELL) investor relations material
Turkcell Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved 11% year-over-year revenue growth to TRY 60 billion in Q3 2025, driven by core telecom, ARPU gains, and subscriber growth.
Secured Türkiye's largest 5G spectrum, positioning for next-generation connectivity and commercial 5G launch in April 2026.
Revenue for the nine months ended 30 September 2025 reached TRY 171.2 billion, up from TRY 152.7 billion year-over-year, with strong contributions from both telecom and financial services segments.
Net income from continuing operations increased 31.8% to TRY 5.4 billion in Q3 2025; net profit for the nine months was TRY 13.4 billion.
Adjusted EBITDA for the nine months was TRY 74.9 billion, up from TRY 65.4 billion year-over-year, reflecting operational efficiency and revenue growth.
Financial highlights
Mobile ARPU grew 12% year-over-year; residential fiber ARPU up 17.3%.
Digital business services revenue up 97% to TRY 4.9 billion; data center/cloud revenue up 51%.
Techfin ecosystem revenue grew 20%, with Paycell up 42%.
Cash and cash equivalents rose to TRY 122.3 billion as of 30 September 2025.
Operating profit increased to TRY 27.9 billion from TRY 20.2 billion year-over-year.
Outlook and guidance
Upgraded 2025 revenue growth guidance to ~10%; EBITDA margin target raised to 42%-43%.
Operational Capex to sales revised to ~23%; data center/cloud revenue growth guidance increased to ~43%.
Capex intensity expected to remain around 24% in 2026; dividend policy unchanged at 50% of net income.
Payment for new frequency licenses will be made in three installments starting January 2026.
Guidance based on an assumed annual inflation rate of around 32%.
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