Turkcell Iletisim Hizmetleri A.S. (NYSE:TKC) Q2 2024 Earnings Conference Call September 12, 2024 1:00 PM ET
Company Participants
Ozlem Yardim - Investor Relations and Corporate Finance Director
Ali Taha Koc - Chief Executive Officer
Kamil Kalyon - Chief Financial Officer
Conference Call Participants
Cesar Tiron - Bank of America
Mandaci Ece - UNLU Securities
Singh Madhvendra - HSBC
Campos Gustavo - Jefferies
Bystrova Evgeniya - Barclays
Operator
Ladies and gentlemen, thank you for standing by. I am Mina, your Chorus Call operator. Welcome and thank you for joining the Turkcell Conference Call and Live Webcast to present and discuss Turkcell's Second Quarter 2024 Financial Results. All participants will be in a listen-only mode and the conference is being recorded. The presentation will be followed by a question-and-answer session. [Operator Instructions]
At this time, I would like to turn the conference over to Ms. Ozlem Yardim, Investor Relations and Corporate Finance Director. Ms. Yardim, you may now proceed.
Ozlem Yardim
[Technical Difficulty] earnings calls. Today, our CEO, Ali Taha Koc; and CFO, Kamil Kalyon will be delivering a brief presentation covering operational and financial results, which will be followed by a Q&A session.
Before we begin, I would like to kindly remind you to review our Safe Harbor statements available at the end of our presentation.
Now I'm handing the meeting over to Mr. Ali Taha.
Ali Taha Koc
Thank you, Ozlem. Good afternoon, everyone, and thank you for joining us today. This year marks a special milestone for us, our 30-year anniversary, which we proudly celebrated with all our stakeholders. On July 8, I had the honor of hosting a closing bell ceremony at New York Stock Exchange, the world's largest financial center, to commemorate this occasion.
What stands out over the past 30 years is, what has remained constant, our core value of placing technology at the center of our business, leading innovation in Turkiye and nurturing the expertise of our people. We are committed to growing our business and meeting the needs of our customers across all the sectors we serve.
Our commitment has made Turkcell resilient during extraordinary times. In the second quarter of 2024, annual inflation peaked in May, exerting pressure on the financial performance of leading Turkish companies. However, Turkcell, with its diversified business portfolio and disciplined management demonstrated financial resilience.
Our top line reached TRY35 billion, reflecting a strong focus on profitability, we delivered an EBITDA of TRY15 billion and a solid 42.6% EBITDA margin. This is enabled by the Turkcell Turkiye segment, mainly due to our rational pricing strategy and successive upsell campaigns which allow us to sustain real ARPU growth.