BGC Partners: TURKCELL 4Q19 Earnings: Good set of results, in line with estimates
Turkcell reported a net income of TL756mn in 4Q19, down by 13% y/y, in line with estimates (cons.: TL739mn, BGC: TL729mn), thanks to solid operational performance (note that there was a strong base in 4Q18 due to low tax expense). The company recorded TL199mn one-off expense in 4Q19 due to the settlement with the tax authority.Turkcell Iletisim Hizmetleri is a provider of mobile services in Turkey. Co. provides mobile voice, internet and other services over its mobile communications network. Subscribers can choose between postpaid and prepaid services. Postpaid subscribers sign a subscription contract, and receive monthly bills for services, while prepaid subscribers must purchase a starter pack which consists of a SIM card and inclusive airtime. GSM offers a range of services that include voice, circuit switched data, packet data and fax, in addition to standard service offerings such as call barring, call forwarding, call waiting and roaming into areas serviced by other GSM carriers.
BGC has been one of the major market players in Turkish OTC debt, FX and swaps markets since 1998.
We started offering corporate finance and investment banking services to our clients in 2013. We offer a complete range of financial services to help our clients achieve their goals. Our main areas of activity within investment banking are as follows:
- Mergers & Acquisitions
- Equity Capital Markets
- Debt Finance & Advisory
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