UPDATE 1-Turkcell 2012 net profit surges 77 percent

Fri Feb 22, 2013 1:41am EST

* Net profit hits $1.16 billion

* Sales climb 12 percent

* Q4 profit beats forecasts (Adds quote, details)

ISTANBUL, Feb 22 (Reuters) - Turkey's largest mobile phone operator, Turkcell, posted a gain of 77 percent in net profit to 2.079 billion lira ($1.16 billion) last year, due to higher EBITDA and a lower impact from one-off items, the company said.

In 2011, net income was hit by foreign exchange losses of 438 million lira and impairment charges of 204 million lira recorded at its BeST unit due to a devaluation in Belarus.

Excluding one-off items, net income would have risen 20 percent to 2.291 billion lira last year. EBITDA rose 11 percent to 3.242 billion lira. Sales in 2012 climbed 12 percent to 10.507 billion lira.

"For 2013 we believe that voice, mobile broadband and increased contribution of our subsidiaries should continue to be key growth drivers," Turkcell Chief Executive Sureyya Ciliv said.

He forecast consolidated revenues in the range of 11.2-11.4 billion lira and consolidated EBITDA in the range of 3.3-3.5 billion lira this year.

In the fourth quarter, Turkcell's net profit climbed 38 percent to 459 million lira ($257 million), narrowly exceeding a Reuters poll forecast of 453.4 million, on sales up 15 percent to $2.807 billion lira.

($1 = 1.7942 Turkish lira)

(Writing by Daren Butler; Editing by Matt Driskill)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.