Turkcell Q2 2026 Net Profit Hits TL5.2bn – 5G and Fiber Drive Margin Expansion

Turkcell reported a TL5.2 billion net profit for Q2 2026, delivering a 41.8% EBITDA margin and 2.5% year‑over‑year revenue growth, underscoring a resilient expansion trajectory.

5G Rollout Fuels Mobile Subscriber Surge

The full‑scale launch of 5G propelled the mobile subscriber base past the historic 40 million mark, with a net addition of 243 k subscribers in the quarter.

■40 million mobile subscribers – first‑time milestone.

■243 k net mobile subscriber increase – highest quarterly growth.

■Post‑5G Net Promoter Score uplift reflects enhanced customer experience.

Fiber Infrastructure Sets New Benchmarks

Fiber now accounts for 80% of the fixed‑broadband market, a 3.4‑point rise from the same period last year. The company rolled out fiber to 194 k new premises, while the share of customers opting for ≥1 Gbps speeds jumped from 8% to 29%.

■80% fiber penetration – leading the fixed‑broadband segment.

■194 k new homes connected to fiber.

■8% → 29% high‑speed subscriber share increase.

Digital & TechFin Segments Power Growth

Digital Business Services revenue surged 33% YoY, with data‑center and cloud revenues climbing 10%. The TechFin line posted a 7% revenue rise, and Paycell revenues jumped 22%, highlighting the strength of POS solutions and digital integration.

■33% Digital Business Services revenue growth.

■10% data‑center & cloud revenue increase.

■7% TechFin revenue uplift.

■22% Paycell revenue boost.

Management Outlook and Macro Context

CEO Ali Taha Koç noted that 5G investments are directly enhancing customer experience and revised the inflation outlook to 28%. Despite a value‑driven competitive landscape, the company maintains a 5‑7% real revenue growth target and a 40‑42% EBITDA margin outlook, with investment spending expected to stay around 25% of revenue.

■28% revised inflation expectation.

■5‑7% real revenue growth target.

■40‑42% EBITDA margin range.

■25% investment‑to‑revenue ratio.

Markets may view Turkcell’s robust 5G and fiber rollout, combined with rapid digital services expansion, as a catalyst for heightened share liquidity. The margin improvement and fast‑growing tech‑fin revenues bolster the firm’s long‑term profitability profile. While the upward revision in inflation expectations could exert modest pressure on short‑term rates, Turkcell’s high‑margin operations and disciplined capital allocation are likely to prompt HFT algorithms to reprice risk premiums.

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