According to a statement published by the company, it share value increased by 89% in the first nine months of the year compared to the end of 2018 and amounted to TL7.37 (€1.12).
Summarising the first three quarters of 2019, it adds that it began last year with a successful $500 million bond issue. It also provided a 68% return to investors in 2019.
Commenting on developments at the company, its assistant finance general manager Kaan Atkan said: “Türk Telekom has invested $16.2 billion in digital conversion in the last 14 years. We have increased the fibre infrastructure more than 10 times in the last 10 years, a must for digitalisation and 5G”.
He added: “We focus on managing our financial resources in the most effective way while realising our investments. At the beginning of the year, we successfully completed the $ 500 million bond issue and received five times the demand from 264 investors in 39 countries. In the first 9 months of 2019, we recorded a 15.6% growth and a net profit of TL 1.9 billion. Net Debt / EBITDA ratio fell to 1.55x, the lowest level of the last four years, reflecting strong cash flow and strong EBITDA growth. Moreover, our effective balance sheet management and net foreign currency position decreased from $1,767 million to $446 million in Q3 2018. As a result, the sensitivity of the income statement to exchange rate movements continued to decline. Our net profit increased remarkably compared to the first nine months of the previous year and reached its highest level in the last seven years at TL 1,862 million. ”
Aktan continued: “Our financial and operational results in the third quarter indicate that we have successfully managed our strategy. Following the successful financial results recorded in the first nine months of the year, we revised our 2019 EBITDA forecast upwards for the second time within the year and reached TL 11 billion. Our customer-oriented approach, simplified organisational structure, effective cost control, synergies of being an integrated operator and the efficiency of data growth contributed to this performance. These results give us confidence in the steps we will take for our target of increasing customer penetration and sustainable subscriber acquisition with the priority of customer satisfaction. In addition to these developments, Türk Telekom’s share value, which was TL 3.90 in 2018, increased by 89% to TL 7.37. In the same period, BIST 100’s return in TL was 30%. I would like to proudly say that Türk Telekom became the operator with the highest share value in 2019”.