Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) Q4 2022 Earnings Conference Call March 9, 2023 12:00 PM ET
Company Participants
Ali Serdar Yağcı - Investor Relations & Corporate Finance Director
Murat Erkan - Chief Executive Officer
Kamil Kalyon - Acting Chief Financial Officer
Conference Call Participants
Mandaci Ece - Unlu Securities
Annenkov Evgeny - Bank of America
Operator
Ladies and gentlemen, thank you for standing by. I am Maria, your Chorus Call operator. Welcome, and thank you for joining the Turkcell's conference call and live webcast to present and discuss the Fourth Quarter and Full Year 2022 Financial Results Conference Call.
At this time, I would like to turn the conference over to Mr. Ali Serdar Yağcı, Investor Relations and Corporate Finance Director. Mr. Yağcı, you may now proceed.
Ali Serdar Yağcı
Thank you, Maria. Hello, everyone. Welcome to Turkcell's fourth quarter and full year 2022 results call. Today, our CEO, Mr. Murat Erkan; and acting CFO, Mr. Kamil Kalyon will deliver a brief presentation covering operational and financial results and afterwards we will be doing Q&A. Before we start, I would like to remind you of our safe harbor statement at the end of the presentation.
Now handing over to Mr. Erkan.
Murat Erkan
Thank you, Serdar. Good morning and good afternoon, everyone. Thank you for joining us. We are devastated by the earthquake that struck Southeastern Turkey on February 6th. We offer heartfelt condolences to families of those who lost their lives at this catastrophic event. We trust in the solidity of the nation to overcome this massive tragedy.
The past year presented many challenges and opportunities not only the Turkish economy, but also to the global. The war in Ukraine drove up food and energy prices. Also, elevated supply chain disruption further worsened pricing behavior across all markets. Easing inflation towards the year-end provides some relief to the markets, yet it will continue to impact this year's economic growth. In Turkey, inflation was a major concern during the year despite cooling off in the year-end.
On the other hand, strong domestic demand and robust tourist inflow reaching pre-pandemic levels supported overall economic activity. As telcos, we saw continued mobile and fixed broadband demand, enabling us to make more frequent price adjustment to beat inflationary pressures.
Our revenue growth continued to accelerate in Turkey, but mainly with the impact of Ukrainian operation, group top line growth in the fourth quarter was just over 57%, slightly above third quarter growth. This Q4 performance brought our 2022 revenue growth to 50%, enlarging subscriber base by 2.3 million, and accelerating ARPU growth were the main drivers of this performance.