Turkcell reports 54% rise in earnings

Turkey's leading mobile operator Turkcell posted a 54% rise in net profit to €0.92 billion/US$1.4 billion in 2007 and revenues rose 35% to €4.14 billion/US$6.3 billion due to higher usage and subscriber growth, a Reuters report said.

However, the company said it expected the mobile phone market in Turkey to grow at a slower rate this year, according to the Reuters report.

Fourth-quarter net profit rose 39% from a year earlier to €265.4 millionUS$403.2 million while revenues during the quarter jumped 50% to €1.18 billion/US$1.8 billion, Turkcell said in a statement.

Earnings before interest, tax, depreciation and amortisation rose 44 % in the full year to €1.71 billion/US$2.6 billion, with the EBITDA margin standing at 42 %. In 2008 it expected the margin to be a few points lower, the report added.

The subscriber base grew 11% on an annualised basis to 35.4 million as of end-2007. Average revenue per user, a closely watched measure, rose 18% to $14.3. Turkcell is well known as a pioneer in mobile advertising, despite the fact that its network is still largely GPRS.