By Azernews

By Vugar Khalilov

Turkey’s Telecommunications Company Turk Telekom has earned revenues worth 24.4 billion TL ($2.4bn) in January - September 2021, Yeni Shafak reported on November 4.

The company achieved 18 percent growth exceeding the expectations for the third quarter of 2021, the report added.

The company’s net profit amounted to 4.7 billion TL ($484m), while its investment expenditures increased to 4.3 billion TL ($443m) in the first 9 months of 2021.

The company’s investment target increased to 8.7 billion TL ($897m) and the investments will mainly be made in a fiber network, which is a powerful tool for future technologies.

Furthermore, the total number of subscribers rose to 51.4 million in the reported period, with a 12-month net subscriber gain of 1.9 million.

“We are happy to see once again the strengths of our financial and operational results underline our history, experience, investment decisions, human capital, and application competencies. We are determined to complete the digital transformation for our country and to make Turkey a pioneer in the 5G journey,” Turk Telekom CEO Umit Onal stressed.

Onal stated that fixed broadband continued to be the driving force of growth in the third quarter with its 29-percent revenue growth.

“Digitalization fuels the demand for technology and communication services, leading to a permanent transformation in consumer behavior,” he added.

Furthermore, Onal stressed the importance of fibre network in the development of the company.

“Our total number of fibre subscribers, which made up 37 percent of our subscriber portfolio in 2019, rose to 8.8 million in the third quarter, exceeding 62 percent of our subscriber portfolio. Our fibre household coverage, which was 25 million in the same period of last year, exceeded 28.9 million as of the third quarter of 2021. Our advancing technology and access will pave the way for an advantageous transition to 5G for Turkey,” Onal added.

Describing the Turk Telecom as a leading company in the field, Onal said that they are among the global players that set the standards for new generation technologies in a rapidly transforming world.

“We offer 5G solutions to the whole world through our research and development company Argela and its innovation branch Netsia in the USA,” Onal stressed.