21 February 2019•Update: 21 February 2019
By Gokhan Ergocun
ISTANBUL
Turkish mobile network giant Turkcell's revenues totaled 21.3 billion Turkish liras ($4.42 billion) in 2018, the company announced Thursday.
The revenues rose by 20.8 percent year-on-year in the first 12 months of 2018, Turkcell said in a report.
Net profits of the GSM operator also rose by 2 percent to stand at 2 billion Turkish liras ($415 million) in the period, according to the company.
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) reached 8.78 billion liras ($1.82 billion), corresponding to a 41.1 percent rise, it added.
The report showed, as of the end of December, Turkcell subscribers -- in Turkey, Northern Cyprus, Ukraine, Belarus, and Europe -- reached 48.9 million.
The average U.S. dollar/Turkish lira exchange rate was 4.82 in in 2018.
Turkcell spearheaded GSM-based mobile communication in Turkey when it started operations in 1994.
Since then, it has continuously expanded its services based on mobile audio and data communication in Turkey and abroad.
