Turkcell (TCELL) Q2 2025 earnings summary

Executive summary

• Achieved Q2 2025 revenue of TRY 53.0 billion, up 12.5% year-over-year, with EBITDA rising 14.8% to TRY 23.1 billion and margin at 43.5%.

• Net income from continuing operations increased 36.8% year-over-year to TRY 4.4 billion.

• Added 816,000 postpaid subscribers, the highest net addition in over five years, and achieved robust ARPU growth in both mobile and residential fiber.

• Strategic focus on digital, Techfin, and data center/cloud services contributed to performance.

• Maintained market leadership and profitability amid intense competition through targeted actions and customer-centric strategies.

Financial highlights

• Revenue grew to TRY 53,022 million in Q2 2025, a 12.5% increase year-over-year.

• EBITDA rose to TRY 23,086 million, up 14.8% year-over-year, with margin improving to 43.5%.

• EBIT increased 39.5% year-over-year to TRY 8,818 million; EBIT margin at 16.6%.

• Net financial income of TRY 670 million, aided by reduced FX losses.

• Dividend of TRY 4.0 billion distributed in June 2025.

Outlook and guidance

• Confident in achieving year-end targets, supported by strong H1 performance and ongoing investments in technology and infrastructure.

• Full-year guidance reiterated, with a year-end inflation assumption of 13.5%.

• CapEx acceleration planned for H2, focusing on telecom infrastructure, 5G readiness, and renewable energy.

• Prudent approach to guidance maintained due to contract structure, inflation, and high base effect.

• Planned additional 8.4 MW IT capacity in data centers for 2025.