Turkcell Iletisim Hizmetleri A S TKC

Turkcell İletişim Hizmetleri Anonim Şirketi began operations in 1994 as a mobile telecommunications provider and has since evolved into a converged operator offering mobile, fixed line, broadband, IPTV, digital content and financial technology services. The company’s mobile network covers the entirety of Turkey and extends to Belarus and the Turkish Republic of Northern Cyprus, supported by a spectrum holding of 234.4 megahertz which corresponds to 43 percent of the total bandwidth available to Turkish mobile operators. This spectrum enables 4.5G services with peak downlink speeds reaching 1.6 gigabits per second, comparable to fiber broadband. In parallel, Turkcell has deployed a fiber optic network spanning more than 65,000 kilometers, providing gigabit speed broadband to homes and enterprises, while its fixed wireless access product Superbox delivers high speed internet where fiber deployment is limited. The company also develops and operates digital platforms such as BiP for messaging, fizy for music streaming, TV+ for video and lifebox for cloud storage, and it offers financial technology solutions through Paycell for mobile payments, Financell for consumer and enterprise lending and Turkcell Dijital Sigorta for digital insurance.

Revenue is derived from mobile voice and data subscriptions, fixed broadband and IPTV fees, digital content revenues and financial technology income. In the fiscal year ended December 31 2024 Turkcell recorded total revenue of TRY 166,700,000,000, adjusted EBITDA of TRY 69,800,000,000 and net income of TRY 23,500,000,000. The mobile service business remains the dominant contributor, while the Turkcell Türkiye segment generated 86.3 percent of total revenue and 95.2 percent of adjusted EBITDA, Turkcell International contributed 2.4 percent of revenue, the Techfin segment accounted for 5.2 percent of revenue and the Other segment represented 6.2 percent of revenue before elimination of intersegment transactions. Capital expenditure for the year amounted to TRY 54,800,000,000, reflected continued investment in network expansion, fiber rollout and digital platform development.

The company operates through the following segments: Turkcell Türkiye, Turkcell International, Techfin and Other.

• Turkcell Türkiye: Provides mobile voice and data services, fixed broadband and IPTV, and a range of digital content platforms within Turkey.

• Turkcell International: Offers telecommunication and digital services outside Turkey, with operations in Belarus and the Turkish Republic of Northern Cyprus.

• Techfin: Delivers financial technology services including mobile payments through Paycell, lending via Financell and insurance products from Turkcell Dijital Sigorta both inside and outside Turkey.

• Other: Includes call center operations, energy business activities, retail channel operations, smart device management and consumer electronics sales through digital channels of Turkcell Satış, together with intersegment eliminations.

Turkcell maintains the leading market share in Turkey’s mobile telecommunications sector, facing principal competitors Türk Telekom and Vodafone Turkey. Its competitive edge is anchored by the extensive spectrum portfolio that grants the largest contiguous bandwidth among local operators, enabling the highest 4.5G speeds currently offered in the country. The company’s fiber optic infrastructure, exceeding 65,000 kilometers in length, provides a foundation for gigabit broadband services and facilitates the anticipated transition to 5G by supporting dense wavelength division multiplexing and future network upgrades. Additionally, Turkcell’s growing techfin division, which combines mobile payments, lending and insurance, creates a sticky ecosystem that increases average revenue per user and reduces churn. The firm also benefits from a strong brand reputation, a broad distribution network and a commitment to innovation through continuous investment in research and development, which together support sustained profitability and the ability to fund future growth initiatives. The company also participates in sustainability indices and has committed to reduce its carbon footprint through renewable energy projects.

At the end of 2024 the Turkcell group reported 45,200,000 subscribers, with 43,100,000 located in Turkey consisting of 38,300,000 mobile subscribers, 3,200,000 fixed broadband connections and 1,500,000 IPTV accounts. The remaining 2,100,000 subscribers are served from operations in Belarus and the Turkish Republic of Northern Cyprus. The company classifies its customer base into three main groups: consumer, corporate and wholesale. Consumer customers include individuals who purchase prepaid or postpaid mobile plans, fixed broadband packages and IPTV subscriptions, as well as users of digital services such as BiP, fizy, TV+ and lifebox. Corporate customers comprise small medium enterprises and large corporations that receive tailored connectivity solutions, cloud services, cybersecurity offerings and digital transformation packages from Turkcell’s business units. Wholesale customers consist of other telecommunications operators, internet service providers and content delivery networks that purchase voice termination, data transit, roaming and infrastructure services from Turkcell under regulated interconnection agreements. Average revenue per user remains stable due to the mix of voice, data and digital services, and the company continues to grow its subscriber base through targeted marketing and network quality improvements.