Turk Telekom raises FY guidance as Q3 revenues rise 45%

10.11.2022 -

Turk Telekom has reported a 45.3 percent year-on-year rise in revenues to TRY 12.6 billion in the third quarter of 2022, or up 43.3 percent when excluding the IFRIC 12 accounting impact.

EBITDA grew by 17.4 percent year-on-year to TRY 5.0 billion, with an EBITDA margin of 40.1 percent, down 950 bps year-on-year. This is largely because of last year's high base, a continued rise in opex including a broad-based salary adjustment after the minimum wage increased in July, and faster growth in lower-margin mobil