February 13 (SeeNews) - Turkish telecommunications company Turk Telekomunikasyon [IST:TTKOM] said it turned to a net profit of 2.4 billion lira ($398 million/364 million euro) in 2019 from a net loss of 1.39 billion lira the previous year.
Operating profit rose by 37% on the year to 6.4 billion lira, whereas capital expenditures grew by 21% year-on-year to 4.9 billion lira, the company said in a yearly financial statement on Wednesday.
In 2019, consolidated revenues totaled 23.7 billion lira, an increase of 16% compared with the previous year.
The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) was 11.2 billion lira, exceeding the 11 billion lira EBITDA guidance and increasing by 32% on the year.
Turk Telekom is Turkey's first integrated telecommunications operator. Together with its subsidiaries it provides services across Turkey and employs 32,180 people, the telecom company's website shows.
(1 euro = 6.57817 lira)