Turkcell revenues reach $4.4B in 2018

By Gokhan Ergocun

ISTANBUL (AA) - Turkish mobile network giant Turkcell's revenues totaled 21.3 billion Turkish liras ($4.42 billion) in 2018, the company announced Thursday.

The revenues rose by 20.8 percent year-on-year in the first 12 months of 2018, Turkcell said in a report.

Net profits of the GSM operator also rose by 2 percent to stand at 2 billion Turkish liras ($415 million) in the period, according to the company.

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) reached 8.78 billion liras ($1.82 billion), corresponding to a 41.1 percent rise, it added.

The report showed, as of the end of December, Turkcell subscribers -- in Turkey, Northern Cyprus, Ukraine, Belarus, and Europe -- reached 48.9 million.

The average U.S. dollar/Turkish lira exchange rate was 4.82 in in 2018.

Turkcell spearheaded GSM-based mobile communication in Turkey when it started operations in 1994.

Since then, it has continuously expanded its services based on mobile audio and data communication in Turkey and abroad.