TURKCELL 4Q18 Earnings: Stable performance, bottom line slightly better
• Turkcell reported a net income of TL864mn in 4Q18, up by 300% y/y, (cons.: TL796mn, BGC: TL705mn), supported by stronger TL, lower tax rate (at 4.0% vs. 33.9% in 3Q18 and 22.7% in 4Q17), and stable operating profitability. The company states that this bottom line is a stable quarterly run-rate. Note that the 4Q17 net income included a TL575mnn provision for tax settlement, which had a TL500mn impact on net income after tax.
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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