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01-21-2019, 11:26 PM
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Turkcell chief rings upbeat note after torrid 2018
Kaan Terzioglu, head of*Turkcell, acknowledged that the Turkish economy needed to “adjust” after a crisis that saw the lira lose almost 30 per cent of its value against the dollar last year.* But he said that an expansion into digital services would ensure the company was well-placed to navigate a slowdown that most economists now expect will become a full-blown recession. “We provide the lowest cost entertainment platform in the entire country and people will need entertainment, even in difficult times,” he told the Financial Times in an interview at Turkcell’s Istanbul headquarters. “From our industry’s perspective, I am positive that [this] year will be a good year.” The company enjoyed year-on-year revenue growth of 26 per cent in the third quarter of last year, beating market expectations. Its earnings before interest, tax, depreciation and amortisation margin was 41 per cent, and the company recently revised its year-end revenue growth guidance upwards to 20 to 22 per cent. Turkcell attributes its growth to a strategy put in place four years ago to build a portfolio of apps that offer messaging services, television and music streaming, as well as newspapers and magazines. The company said these products had boosted the retention, engagement and data use of its 38m subscribers.* “Today our average customer talks [by phone] for 32 minutes [a day]*but they also listen to 48 minutes of music,” Mr Terzioglu said. “They watch 80 minutes of TV. They read around 20 minutes of newspapers and magazines on our platforms. So we have broadened our relevance. With that comes more revenues and less churn, and that’s what causes operators like us to grow.” Shares in Turkcell took a battering last year, reaching a low point after the currency crisis that gripped the country in August following the eruption of a dispute with US president Donald Trump.*The share price has enjoyed a more buoyant start to 2019, gaining 16.3 per cent in the year to date compared with a 7.3 per cent rise in the Borsa Istanbul 100 Index. Alex Kazbegi, head of telecoms research at Renaissance Capital, said investors had been cautious about Turkcell mostly due to concerns about the company’s foreign currency debt — an issue that is causing problems across Turkey’s corporate sector. “But Turkcell has hedged the bulk of its debt and effectively converted it into lira, thus eliminating foreign currency risks,” he said.* Analysts are more sceptical about Turkcell’s plan to grow internationally in the years ahead by selling versions of its apps to other telecoms companies. Mr Terzioglu insists it can work, arguing that companies are eager to claim back data that has been “stolen” by a handful of global tech giants. “Making your own [apps] is an effort, it takes time, it requires resources,” he said. “Not every telco in the world has these capabilities.” </p> Source link More ??????? ??????: Turkcell chief rings upbeat note after torrid 2018 || ??????: ahlam1399 || ??????: اسم منتداك
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