By playing a leading role with its investments in developing Turkish technologies and exporting these technologies to the international markets, Trk Telekom also aims to increase the competitive power of Turkey in global markets. Just like 2009, Trk Telekom continued to make investments in full speed in 2010, and in the first half of 2010 Trk Telekom made 520 mn TL investment on technology and infrastructure.
In the first half of 2010 Trk Telekom invested not only in technology but also in human resources. Trk Telekom, who did not reduce its investments in 2009 despite the severe economic conditions, increased its investments in Human Resources and recruited 3500 new employees in the first 6 months of 2010.
Trk Telekom CEO Dr. Paul Doany commented as follows on the H1 financial results of Trk Telekom:
In the first half of 2010 revenue grew 2 % with a slight improvement in the consolidated EBITDA margin. The EBITDA margin of our Mobile business almost doubled in the second quarter of 2010 compared to the first quarter 2010.
In 2010, we launched our new Home Advantage tariffs which have significantly improved benefits for our customers and as a result of our innovative approach over 4 million homes with approximately 16 million people are now enjoying the benefits of Home Advantage.
Additionally, we have bundled more value into the home line with insurance and home/ office security offers complementing our high value bundle calling offers.
Also, PC sales campaigns through our dealers with various brands made our sales channel one of the strongest in the country.
During the first half of 2010, we took an historical step for the Turkish telecommunication sector. We signed an agreement to acquire 100 percent shares of Invitel International which is one of the leading independent wholesale data and capacity service providers in Europe, with 27 thousand kilometres of optic fibre network across 16 countries.
Furthermore, JADI LINK project which covers establishment of an integrated multi-pass fibre optic network among the Middle East, Southern Asia and the Far East is being realised in cooperation with Saudi Telecom Company, Jordan Telecom Group and Syrian Telecommunication Establishment.
Both of the above mentioned steps are important in making Trk Telekom and Turkey a telecommunication hub for the region. In the coming months and years we will continue our regional initiatives (with Vitamin/Adaptive Curriculum, I Can Football, Wirofon and other Trk Telekom created services and products) which will bring a global identity to the Trk Telekom brand which is becoming stronger every year.
Last year, Trk Telekom was ranked as the Most Valuable Brand in Turkey with a brand value of 1.6 billion dollars in the research made by Capital magazine in coordination with Brand Finance, a leading brand valuation company in the UK. We are very pleased to see that this year we repeated this success with a brand value of 1.7 billion dollars and again Trk Telekom was selected as the Most Valuable Brand in Turkey.
With our value added products and services, our innovative strategies and our regional initiatives we will continue our leadership in the Turkish communication and convergence technologies.
|(TL mn)||H1 2009||H2 2010||Change %|
|Net Operating Expenses excluding Depreciation and Amortization*||(2.976)||(2.996)||0,7 %|
|Operating Profit Before Depreciation and Amortization (EBITDA)*||2.173||2.254||3,7 %|
|Depreciation and Amortization||(864)||(756)||-12,5 %|
|Operating Profit||1.309||1.498||14,5 %|
|Net Financial Income / (Expense)||(271)||(7)||-97,3 %|
|Minority Interest||85||80||-6,0 %|
|Net Income||821||1.147||39,7 %|
|Capital Expenditure||1.148||520||-55,0 %|
|* Net operating expenses includes operating expenses, other operating expenses and other operating income|
|** 2009 final headcount is 34.086|