Corporate Governance

Corporate
Governance

Investor Relations

Turkcell is the only Turkish company listed on the BIST and NYSE. Its Eurobond issued this year trades at the Irish Stock Exchange.

SHARE PERFORMANCE

Turkcell shares commenced trading simultaneously at the Borsa Istanbul (BIST) and the New York Stock Exchange (NYSE) on July 11, 2000. Turkcell shares are traded as American Depositary Shares (ADS) at the BIST under the TCELL ticker, and at the NYSE under the TKC ticker. Two ADSs represent five shares (1 ADR = 2.5 shares). Turkcell’s issued capital is a nominal TRY 2,200,000,000, and each share represents TRY 1 nominal value with 2,200,000,000 shares in total. Being the only Turkish company to be listed on both BIST and NYSE, Turkcell was the fourth largest company among those being traded at the BIST with a market value of TRY 21.8 billion (USD 7.5 billion) as of December 31, 2015.

Turkcell marked its 15th year of listing on September 1, 2015 at the Closing Bell Ceremony held at the NYSE.

On October 16, 2015, Turkcell issued bonds of an aggregate principal amount of USD 500 million with a 10 year maturity and coupon rate of 5.75% based on a 5.95% reoffer yield to be traded on the Irish Stock Exchange.

SHARE PERFORMANCE (RELATIVE)

Share Performance

SHARE PERFORMANCE*

TCELL (TRY) 2011 2012 2013 2014 2015
Lowest 6.39 7.03 8.86 9.36 9.90
Highest 9.51 10.07 11.07 12.81 13.55
Closing 7.71 10.03 9.86 12.42 9.90
TKC (USD) 2011 2012 2013 2014 2015
Lowest 9.00 9.41 11.25 10.48 8.38
Highest 15.40 14.02 15.43 14.42 14.35
Closing 10.21 14.02 11.60 13.13 8.49

*Share prices are adjusted for dividend payments. (Source: Bloomberg)

OUR BUSINESS PRINCIPLES

We adopt corporate governance principles.

The basic work policies adopted by the Turkcell Investor Relations Department include accessibility, rapid feedback to stakeholders and analysts, and always informing stakeholders transparently, consistently and in a timely fashion. Accordingly, we disclose information to all investors through user-friendly, up-to-date website, Investor Relations Application (IR App) and Twitter on a timely basis.

Investor Relations team members have a deep and active understanding of the company and sector dynamics, and are able to clearly communicate the company’s story. Thus, the Turkcell Investor Relations team fully understand and analyze the company, better comprehend its strategies, and make a difference to stakeholders by communicating those strategies in the most efficient manner possible. As the Investor Relations Department, throughout 2015, we:

  • held 460 meetings with analysts and institutional investment funds,
  • participated in 15 investor conferences,
  • met with 53 bond investors at the bond roadshow held in America and Europe and
  • shared our strategies and medium-term targets with a group of approximately 100 analysts and investors at the meeting held in London on November 9.

35 analysts, almost half of which are foreign companies, actively cover Turkcell. As of the end of 2015, there were 10 analysts with “buy”, 18 analysts with “hold”, and 7 analysts with “sell” recommendations.

We work to provide the maximum benefit to Turkcell and our stakeholders.

Investor relations standards are shaped by the constantly developing and intensifying needs of the capital markets. The implementation of any practice that carries a publicly traded company one step further creates a strategically valuable differentiation between companies and, ultimately, contributes to the Turkish Capital Markets.

Our focus is on creating value for our stakeholders.

Our aim is to transparently share the value created by Turkcell with our stakeholders, be it through financial and operational performance, strategic priorities, or via our strong reputation and powerful brand management, always ensuring that the company is well understood.

We work to ensure a high level of satisfaction

We make a difference with our communication.

Turkcell believes in simultaneous and open communication with its stakeholders. In this regard, our Board members, CEO and executive management shared their 3-year targets at the “Turkcell Capital Markets Day” openly held for the participation of all our analysts and investors, in London in November. Our stakeholders had the opportunity to listen to our executive officers outlining our strategies towards leadership in the telecommunication industry, which we aim at achieving within 3 years.

As Turkcell Investor Relations, we use social media tools such as Twitter and the Investor Relations application as well as communication channels such as the web site and Public Disclosure Platform to provide extensive, accurate and timely information to our investors. With the Turkcell IR App, our investors and analysts can follow the most recent announcements, financial quarter results, press releases, operational results, presentations and annual reports in both Turkish and English on iOS and Android based smartphones and tablets, at any time and from any location.

We care about sustainability.

In 2014, the Borsa Istanbul launched the Sustainability Index. This index indicates each company’s approach to significant sustainability-related issues important for both Turkey and the wider world, including global warming, the depletion of natural resources, including water, as well as healthcare, safety, and employment. In total, the index enables companies’ activities and decisions to be assessed from an independent perspective, and then be confirmed by Borsa Istanbul. In the second year of the Sustainability Index comprising November 2015 - October 2016, Turkcell, one of the 29 companies in the index, has remained on it since its inception.

Turkcell issued a 10-year Eurobond.

Turkcell issued a USD 500 million Eurobond on October 15, 2015. Almost fourfold oversubscribed, this has been the first and only Eurobond issuance at this size in international markets by a Turkish company from the non-financial sector in 2015. Turkcell Eurobond is traded at the Irish Stock Exchange.

Despite the volatility of international markets and the distrustful view of the global market towards developing countries, Turkcell has succeeded in generating funds through the international capital markets through its 10-year Eurobond which had a high demand from US and Europe.

Turkcell Capital Markets Day - November 9, 2015 - London