Tax impact on Türk Telekom's revenue

Sharing its financial data for the final quarter of 2025, Türk Telekom generated 69.3 billion TL in revenue during this period, outperforming market expectations of 62.5 billion TL. The number of subscribers also continued to grow; the total subscriber count, which stood at 53.2 million at the end of 2024, rose to 56.6 million by the end of 2025. With this expansion, the company's average revenue per user increased by 16.5 percent throughout the year, with a 17.9 percent rise seen in the fourth quarter alone.

Success in pricing strategies, an increase in the rate of customers upgrading to higher packages, and strong performance in contract renewals supported revenue growth. Additionally, a 500-basis-point increase in the gross profit margin was recorded compared to the same period of the previous year, reaching 42 percent.

Despite this positive picture in revenue, Türk Telekom's net profit for the final quarter of 2025 was announced as 719 million TL, remaining below analyst estimates of 3 billion TL. In a statement made by the company, it was noted that a one-time effect stemming from deferred tax expenses was behind this lower net profit. However, with the base effect resulting from the loss in the fourth quarter of last year, the company's total net profit for 2025 reached 23 billion TL. Thus, a significant increase of 110 percent was achieved on an annual basis.

Regarding operational profitability, Türk Telekom announced an EBITDA of 26.4 billion TL for the fourth quarter of 2025. This figure exceeded the market expectation of 24.9 billion TL. For the full year, total EBITDA reached 99.1 billion TL, showing a 28 percent increase compared to the previous year. The EBITDA margin stood at 41 percent in the final quarter of 2025, indicating a 430-basis-point improvement compared to the previous year. The company's net debt/EBITDA ratio fell to 0.60 at year-end, signaling a positive, albeit limited, trend in indebtedness.

COMPANY EXPECTATIONS FOR 2026

Following a 11.5 percent increase in sales revenue last year, Türk Telekom projects a growth in revenue in the 8-9 percent range for 2026. The company's EBITDA margin is expected to maintain its strong course next year, continuing in the 41-42 percent band. The ratio of investments to sales revenue is estimated to be around 33-34 percent in 2026.

Company management underscores that it will maintain its market leadership in the coming period thanks to sustainable growth policies and strong operational dynamics.