The number of Türk Telekom’s subscribers rose to 51.4 million, while the company revised up its revenue, profit and investment forecasts for 2021, according to the company’s third-quarter results announced on Nov. 3.
Türk Telekom, Turkey’s prominent telecommunications company, has 14.1 million broadband customers as of the end of September, the statement said.
The number of fiber subscribers jumped 67 percent to 8.8 million in the first nine months of this year, it added. Mobile customers, meanwhile, stood at 23.9 million.
Türk Telekom racked up 24.4 billion Turkish Liras (nearly $2.5 billion) in revenues in the January-September period, posting an annual increase of 18 percent, it said.
The company’s earnings before interest taxes depreciation and amortization (EBITDA) hit 12.1 billion liras ($1.2 billion) in the same period, while its EBITDA margin was 49.6 percent.
Türk Telekom’s net profits in the same period reached 4.3 billion liras ($443.5 million) thanks to its “effective exchange rate risk and expenditures management,” the statement said.
“As of the third quarter, our 353,000 kilometer-long fiber network spanning all over Turkey constitutes a strong leverage for future technologies,” Türk Telekom CEO Ümit Önal was quoted as saying in the statement.
The company’s fiber network now covers 28.9 million households, up from 25 million in the same period last year, he added.
“Our advanced technology and coverage will pave the way for an advantageous transition to 5G for Turkey,”Önal said.
The company has revised up its EBITDA forecast from 15.8 billion liras to 16.2 billion liras and investment volume from 8.5 billion liras to 8.7 billion liras for this year.
Türk Telekom’s subsidiary Argela and its U.S.-based affiliated firm, Netsia, operating in the Silicon Valley, have registered intellectual property rights for 56 products used in 5G technology and fiber networks in the U.S.Patent and Trademark Office.
Since its privatization in 2005, Türk Telekom has invested $17.9 billion in research and development and acquisitions.