Turkcell announced its results for the second quarter of 2024.

Turkcell Achieves Strong Results in the Second Quarter of 2024

Turkcell, the first and only Turkish company simultaneously listed on the Istanbul and New York stock exchanges, closed the second quarter of 2024 with impressive results. Turkcell CEO Dr. Ali Taha Koç emphasized that they carried their strong operational performance into this quarter, highlighting the customer-centric nature of the services provided by the company.

Dr. Ali Taha Koç stated, “By considering our customers’ needs as a priority, we continued our mission to provide innovative and comprehensive solutions. We celebrated the excitement of our 30th anniversary together with our customers. We launched many different campaigns and benefits. Thanks to our customer-focused actions, superior service quality, and value propositions, we closed the second half of the year with a net gain of 346,000 mobile subscribers. Our postpaid subscriber base increased by a net of 477,000 in this quarter, bringing the total number of postpaid subscribers gained in the last year to 1.8 million.”

Koç continued, “In addition to our leadership in the telecom sector, we also place great importance on data center operations, renewable energy, artificial intelligence, and cybersecurity. With the aim of strengthening our position as an end-to-end technology provider, we continue to build a future where technology triggers progress. Our innovative services in the techfin area add value to the lives of both our individual and corporate customers.”

Strategic Investments and Sale of Ukrainian Subsidiaries

Dr. Ali Taha Koç also touched upon the sales process of their subsidiaries in Ukraine, stating, “In our 30th year, we continue our path with firm steps towards converting the strong foundations of our company and our innovative vision into value for our stakeholders. In this context, we continuously evaluate our portfolio and implement our strategic actions when suitable conditions are met. We completed the sales process of our assets in Ukraine, which we announced at the end of 2023, on September 9. During this process, we provided an inflow of 524.3 million dollars to our country. Considering the war conditions in Ukraine, we are pleased to have successfully completed this process as Turkcell. Our goal is to focus on new investments that will contribute to our country’s digital transformation.”

Dr. Ali Taha Koç concluded his speech by saying, “With the pride of continuing into our company’s 30th year with strong steps, we say, ‘Everything works with Turkcell, Turkcell works with everyone,’ as we continue to add value to our country with many of our investments ranging from people to objects, from the technology ecosystem to social responsibility, alongside our mobile and fixed infrastructure.”

Turkcell’s Second Quarter 2024 Data

• Thanks to innovative applications such as the ‘Smart Invoice’ service and the ’30th Anniversary Doubling Campaign’, Turkcell’s average monthly mobile subscriber loss rate decreased to 1.5%, the lowest level in the last 6 years.
• In response to the demand for high-speed and quality fiber services, Turkcell gained a net of 42,000 fiber subscribers, bringing the total number of fiber subscribers to 2.4 million. The total fixed subscriber count approaches 3.2 million, while the subscriber loss rate has dropped to 1.2%, the lowest level since 2006.
• The techfin area provided by Turkcell through its Financell and Paycell brands continued to make significant contributions to group growth. Financell’s revenues increased by 33.9% year-on-year to reach 947 million TL, while its loan portfolio grew to 6.3 billion TL by the end of the second quarter. Paycell, which offers secure payment solutions, also saw its revenues increase by 15.8% year-on-year.
• With the doubling campaign, Turkcell doubled the GB and minutes in subscribers’ packages and launched many campaigns, such as cinema and dining benefits aimed at young people. During the Eid al-Adha, it distributed a total of 30 million GB of internet as part of the ‘Shake and Win’ campaign.
• Turkey’s digital payment and financial services platform Paycell combined the local payment system TROY with the Paycell Card in the second quarter of the year. Users can create TROY virtual cards through the Paycell application, experiencing a faster and more secure shopping experience in domestic transactions.
• The 5G Technology Campus, established in collaboration with Istanbul Technical University, Turkcell, and Ericsson, became operational in April. This R&D collaboration, which brings together the private sector and academia, will develop 5G technologies at İTÜ Ayazağa Campus and contribute to the training of qualified human resources.