TURKCELL ILETISIM HIZMETLERI A S (TKC) Company Report

Turkcell İletişim Hizmetleri A.Ş. completed the book building for a TRY 750,000,000 financing bond issuance to qualified investors within Türkiye.
The bonds have a maturity date of February 24, 2026, and an annual simple interest rate of 39.25%.
The securities will be transferred to investor accounts on November 20, 2025, under a TRY 10,000,000,000 issuance limit approved by the Capital Markets Board.
The company's Long Term National Rating from JCR Avrasya Derecelendirme A.Ş. is AAA (tr), dated May 29, 2025, and is considered investment grade.

Nov 20, 2025, 11:36 AM

Turkcell Reports Strong Q3 2025 Results and Raises 2025 Outlook

TKC

Earnings

Guidance Update

New Projects/Investments

Turkcell reported strong financial results for Q3 2025, with consolidated revenues increasing 11.2% year-on-year to 59.5 billion TL and EBITDA rising 10.5% year-on-year to 26.2 billion TL, achieving an EBITDA margin of 43.9%.
The company revised its 2025 outlook upward, now expecting revenue growth of around 10% and an EBITDA margin target in the range of 42% to 43%.
Strategic focus areas demonstrated robust growth, with the Techfin segment revenues increasing 20.0% year-on-year (including 41.7% growth in Paycell revenue) and data center and cloud revenues growing 51% year-on-year in real terms.
Turkcell expanded its mobile subscriber base to over 39 million with 569 thousand net postpaid additions in Q3 2025, and secured 160 MHz in the 5G authorization tender, with 5G services anticipated to launch in 2026.

Nov 7, 2025, 8:16 PM

Turkcell Board Approves Debt Instrument Issuance

TKC

Debt Issuance

Turkcell's Board of Directors has resolved to issue debt instruments in the domestic markets.
The issuance will be for a nominal amount of up to TRY 15 billion.
These debt instruments will have various maturities of up to 2 years (inclusive) and will be issued in one or more tranches.
The issuance will be conducted without a public offering, as a private placement, and/or sold to institutional investors.
This issuance is subject to the approval of the Capital Markets Board.

Nov 6, 2025, 8:28 PM

Turkcell Reports Strong Q3 2025 Results and Updates 2025 Guidance

TKC

Earnings

Guidance Update

New Projects/Investments

Turkcell reported strong Q3 2025 financial results, with revenue growth of 11% to TRY 60 billion and EBITDA increasing 11% to TRY 26 billion, achieving a 43.9% margin. Net income from continuing operations rose 31.8% to TRY 5.4 billion.
Operational performance was robust, driven by 569,000 net postpaid additions and a 12% rise in mobile ARPU, alongside 17.3% growth in residential fiber ARPU. Strategic areas like data center and cloud revenues grew 51%, and the Tekfin ecosystem achieved 20% year-on-year growth.
The company secured 160 megahertz of 5G spectrum and announced the commercial launch of 5G in April 2026. This readiness is supported by an upgraded 2025 guidance, with revenue growth expectations revised upwards to around 10%, EBITDA margins to 42%-43%, and operational Capex to sales to around 23%.
Turkcell maintains a strong financial position with a cash balance of TRY 122 billion and a net leverage ratio of 0.2 times , which is expected to remain below 1 times even after the first 5G installment payment in January 2026.

Nov 6, 2025, 5:00 PM

Turkcell Awarded 5G Spectrum in ICTA Tender

TKC

New Projects/Investments

Turkcell was awarded a total frequency band of 160 MHz for USD 1,224 million (excluding VAT) in the 5G spectrum allocation tender by the Information and Communication Technologies Authority (ICTA), with the authorization valid until December 31, 2042.
The payment for the frequency band will be made in three equal installments on January 2, 2026, December 25, 2026, and May 2, 2027.
This award grants Turkcell the right to utilize approximately 42% of the total frequency resources in Türkiye, positioning the company to deliver the highest 5G speeds.
The tender also extends the validity of Turkcell's existing 2G, 3G, and 4.5G authorizations until December 31, 2042, with an annual payment of 5% of gross sales revenues from mobile services to ICTA from April 30, 2029, onwards.
Turkcell plans to launch 5G technology for its customers starting April 1, 2026.