Page 64 - TURKRptJun20

The Turk Telekom broadband subscriber base expanded to 11.6mn with 262,000 net additions. Fibre subscribers rose by 231,000 to 4.4mn in the quarter.
The company also boosted its mobile subscriber tally by 253,000 to expand its base to 23.2mn in Q1.
“The coronavirus (COVID-19) outbreak has effects on the global economy and consumer habits. On the positive side, we have observed a strong performance in the fixed segment with the support of increasing internet demand during this period,” Turk Telekom said in a statement.
“However, we prefer a cautious approach, even though the gradual easing of precautions regarding the outbreak is positive in terms of reducing risks. Within this scope, we are slightly revising down our revenue guidance for 2020, incorporating overall risk factors,” it added.
Accordingly, the company cut its revenue growth forecast to 13% from the previous estimate of 14% while slashing the ebitda forecast to TRY 12.4bn-TRY12.6bn from TRY12.4bn.
Turkish fintech Figopara, established in 2017, has ​raised​ a million dollars in its second financing round.
WeWalk, which provides smart walking sticks for visually disabled people, has raised $750,000​.
Inventram, an Istanbul-based JV between Turkey’s Koc Holding and Japan’s Mitsui, has invested in Vispera, a six-year-old Istanbul-based visual intelligence developer for the retail industry, and nanoGriptech​, an eight-year-old US-based dry adhesive technology developer, Reuters ​reported on May 13.
9.2.6 ​Utilities corporate news
Czech energy group Energo-Pro, headed by entrepreneur Jaromir Tesar, started to fill the dam at the Alpaslan 2 hydroelectric power plant in Turkey, the largest waterwork that the Czech company has built since the Velvet Revolution, ​reported​ by daily E15 on May 19.
Filling will take several months, and production of electricity is planned for the end of this year. “We are now completing the dam, which will be 103 metres high,” said the company's spokesperson Hana Hikelova.
The total investment is expected to amount to €454mn. Most of the funding came from the company's own resources, while €175mn is covered by the loan from the Japanese bank MUFG and the Czech Export Bank, which provided €50mn.
Energo-Pro is licensed to produce electricity until 2059. In the first ten years, the company will generate electricity at a guaranteed tariff of $73 per mWh.
Energo-Pro now owns five hydropower plants in Turkey, producing an average of 550 gWh per year. After including Georgia, Bulgaria and the Czech Republic, the company operates 36 hydroelectric power plants with an installed capacity of 862 mW.
64​ TURKEY Country Report​ June 2020 ​ ​www.intellinews.com