In January-March 2024, lifecell mobile operator’s revenue increased by 16.1% compared to the same period in 2023, to UAH 3.12 billion.
According to the report of the parent company Turkcell, lifecell’s net profit for the first quarter increased by 13% to UAH 582.7 million.
Lifecell’s EBITDA for the period increased by 5.7% to UAH 1.69 billion. At the same time, the EBITDA margin decreased by 5.3 percentage points to 54.4%.
The company’s capital investments in the first quarter increased by 58% to UAH 1.008 billion.
“Three years ago, we developed our medium-term strategy. The name of the strategy was 20-24! It meant 20% market share in 2024! The great lifecell team has done it! The best team in history has increased our market share by 5 percentage points in terms of revenue; from 15.5% to 20.2% for a long time!” Ismet Yazici, CEO of lifecell, commented on the results on Facebook.
He reminded that the company had to work with the challenges of the COVID pandemic, a full-scale war in Ukraine, and unfair regulatory conditions.
Yazidi said that in the first quarter of 2024, lifecell’s subscriber base grew by 12.8%, without specifying the absolute figure.
Turkcell’s report says that the Ukrainian assets of Lifecell LLC, Global Bilgi LLC and Ukrtower LLC, which the Turkish company has owned since July 10, 2015, have been allocated to the disposal group in connection with the agreement to transfer all shares, as well as all rights and debts of these companies to French NJJ. The agreement with the company of French billionaire Xavier Niel was signed on December 29, 2023.
Turkcell CEO Ali Taha Koç, answering investors’ questions at a conference on the first quarter results, said that the deal to sell Ukrainian assets to DVL Telecom, a member of French billionaire Xavier Niel’s NJJ group, would be closed by the end of 2024. According to him, after the Ukrainian court lifted the seizure of some of the assets, the company is awaiting approval from the Antimonopoly Committee, which is the last step to close the deal.
