Notice of 2025 Annual General Meeting
Shareholders are invited to join the 2025 AGM virtually by following the instructions set out in the Notice. By joining the 2025 AGM virtually, shareholders will be able to view a live video feed of the 2025 AGM, submit voting instructions and submit questions either in writing or via an audio line.
The Notice sets out the business proposed to be conducted at the 2025 AGM, with the record date set as Friday 4 April 2025 for the purposes of determining eligibility to receive the Notice and to vote at the 2025 AGM. The Notice will shortly be posted to those shareholders who have elected to receive paper communications. AngloGold Ashanti's 2024 UK Annual Report, which was published on Wednesday 26 March 2025, will also be posted to those shareholders who have elected to receive paper communications and can be viewed and downloaded from AngloGold Ashanti's website at reports.anglogoldashanti.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250407509431/en/
Contacts
Media Andrea Maxey: +61 08 9425 4603 / +61 400 072 199amaxey@anglogoldashanti.com
General inquiriesmedia@anglogoldashanti.com
Investors Yatish Chowthee: +27 11 637 6273 / +27 78 364 2080yrchowthee@aga.gold
Andrea Maxey: +61 08 9425 4603 / +61 400 072 199amaxey@anglogoldashanti.com
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Net finance costs decreased to TRY1,341 million (TRY2,011 million) in the second quarter of 2025, despite the monetary gain item's contribution being almost halved. This was driven mainly by decreasing net FX loss to TRY2,022 million (TRY2,710 million) and effective balance sheet management. See Appendix A for details of net foreign exchange gain and loss. Other expenses were TRY195 million (TRY284 million) in Q225. Income tax expense amounted to TRY1,690 million (TRY209 million income) in Q225. This variance can be attributed to higher corporate tax, amounting TRY3,667 million, as the company's statutory financials reflected a tax-paying position. Deferred tax income rose to TRY1,977 million and partially offset corporate tax. Profit from continuing operations delivered a solid performance, rising by 36.8% to TRY4,388 million (TRY3,207 million) in the second quarter of the year. As stated above, strong EBITDA, driven by robust operations, and lower net finance costs supported net income, while income tax expense had an adverse impact. Net income of the Group was up by 7.1% to TRY4,201 million (TRY3,922 million) in the second quarter of the year. Notably, discontinued operations contributed TRY713 million to net income in the same period last year due to the sale of our Ukrainian business. (1) Our revenue segmentation was revised as of Q1 2025. Within this scope, all past data have been restated for comparability purposes. For a comprehensive explanation, please refer to the Press Release and the Excel file for Q1 2025, available on the Turkcell IR website. (2) EBITDA is a non-GAAP financial measure. See page 14 for the explanation of how we calculate adjusted EBITDA and its reconciliation to net income. Total cash & debt: Consolidated cash as of June 30, 2025, increased to TRY116,601 million, from TRY80,428 million as of December 31, 2024. 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The short FX position of US$102 million is in line with our FX neutral definition, which ranges from -US$200 million to +US$200 million. Capital expenditures: Capital expenditures (CAPEX) amounted to TRY40,560 million in the first half of the year, with TRY24,231 million recorded in the second quarter. Operational capital expenditures (excluding license fees) accounted for 16.9% and 18.5% of total revenues in Q225 and H125, respectively. (1) Our net debt calculation includes financial assets at fair value, whether through other comprehensive income or through profit and loss, reported under current and non-current assets, as well as financial assets at amortized cost. Required reserves held in CBRT balances are not included in total cash and net debt calculation, and this change has been reflected in previous quarters' figures Operational Review of Turkcell Türkiye Summary of Operational Data Quarters Q224 Q125 Q225 y/y % q/q % Number of subscribers 1 (million) 43.2 43.1 43.5 0.7% 0.9% Mobile Postpaid (million) 28.1 29.3 30.1 7.1% 2.7% Mobile M2M (million) 4.7 5.3 5.4 14.9% 1.9% Mobile Prepaid (million) 10.4 9.0 8.7 (16.3%) (3.3%) Turkcell Fiber 2 (thousand) 2,375.6 2,484.4 2,488.2 4.7% 0.2% Resell Fixed Broadband 2 (thousand) 810.6 774.2 763.3 (5.8%) (1.4%) ADSL (thousand) 767.8 721.8 695.9 (9.4%) (3.6%) Cable (thousand) 38.1 33.1 31.3 (17.8%) (5.4%) Fiber (thousand) 4.7 19.3 36.0 666.0% 86.5% Superbox 3 (thousand) 746.4 660.0 654.9 (12.3%) (0.8%) IPTV (thousand) 1,484.4 1,456.3 1,430.0 (3.7%) (1.8%) Churn (%) 4 Mobile Churn (%) 1.5% 1.7% 2.2% 0.7pp 0.5pp Fixed Churn (%) 1.2% 1.4% 1.7% 0.5pp 0.3pp Average mobile data usage per user (GB/user) 18.6 17.9 19.2 3.2% 7.3% Expand (1) Includes mobile, fixed broadband, IPTV, and wholesale (MVNO&FVNO) subscribers (2) As of the fourth quarter of 2024, our fixed broadband subscriber reporting has been revised. Turkcell Fiber refers to customers served entirely through our own fiber infrastructure, while Turkcell Resell includes DSL, Cable, and Fiber sales provided through the infrastructures of other ISPs. Accordingly, historical subscriber figures have been revised to ensure comparability. (3) Superbox subscribers are included in mobile subscribers. (4) Churn figures represent average monthly churn for the respective periods. As the market leader in the mobile segment, our primary objective is to sustain our strong market position. To this end, we adopt a dynamic and tailored approach to subscriber portfolio management by diversifying our value-added tariffs in line with evolving customer needs. This strategic focus drives robust net additions, reinforcing our industry leadership and contributes ARPU growth as well. As a consequence of this strategy, we managed to add 816 thousand postpaid subscribers, marking our strongest performance in over five years. The share of postpaid subscribers in the total mobile subscriber base has thus reached 78%, representing an annual increase of five percentage points. As expected, the prepaid subscriber base declined to 8.7 million, primarily due to the rise of alternative data solutions and a customer shift toward postpaid plans in response to inflationary pressures. Our mobile churn rate increased to 2.2% this quarter due to high volatility in the mobile number portability market, which reached a record-high volume of 5.0 million transactions. Mobile ARPU (excluding M2M) recorded a 9.8% year-over-year increase, driven by price adjustments, successful upselling initiatives, and the notable expansion of our postpaid base, which grew by 2.0 million over the past 12 months. On the fixed side, our resell fiber base grew by 17 thousand during the quarter, largely driven by the launch of fiber services over the incumbent operator's infrastructure earlier this year. Turkcell Fiber recorded a net addition of 4 thousand subscribers. However, a decline of 26 thousand ADSL subscribers, resulting from our profitability-driven approach in the resell segment, offset the total fiber net additions. Consequently, our fixed subscriber base remained broadly stable at 3.3 million as of the end of Q2 2025. Residential fiber ARPU rose by 17.5% year-over-year, fueled by the growing share of high-speed packages, a higher proportion of 12-month contracted subscribers, and price adjustments. The share of high-speed packages (100 Mbps and above) increased by 16 percentage points year-over-year this quarter. As part of our ongoing efforts to expand our fiber footprint, we added 67 thousand new homepasses this quarter, bringing the total number of pure fiber homepasses to 6.1 million. TECHFIN Paycell sustained its role as the primary growth engine of the Techfin segment this quarter, delivering 35.8% year-on-year revenue growth, driven primarily by the POS business. POS services recorded 149% revenue growth fueled by rising transaction volumes and the onboarding of new merchants. Notably, 74% of Paycell's revenues were generated from non-group clients, underscoring its growing success beyond the group ecosystem. Regarding profitability, the increasing share of POS within the revenue mix led to a decline in the EBITDA margin — a trend that was anticipated given the nature of the business model. Unlike many other payment companies, Paycell remains profitable and continues to record a solid EBITDA margin by industry standards. The total transaction volume reached TRY39 billion in the second quarter of 2025, increasing by 75% year-on-year. POS volumes grew by 121%, driving the overall volume increase. Financell sustained its positive revenue growth performance of 4.7%, despite tight monetary conditions and TRY20,000 limit on 12-month installment plans for smart phones. Key contributors to this growth were a higher average interest rate across the loan portfolio compared to the previous year and the implementation of tailored pricing offers. The EBITDA margin increased by 1.4pp to 15.5% in this quarter due mainly to lower funding costs on a yearly basis. Financell's loan portfolio reached TRY7.3 billion in Q225. By the end of the second quarter, the company had 0.7 million active customers. Financell is the market leader in the consumer financing sector, holding a 52% market share 1 by number of loans. (1) Source: Association of Financial Instuitions, as of Q125 TURKCELL GROUP SUBSCRIBERS As of June 30, 2025, the Turkcell Group had approximately 45.6 million registered subscribers. This figure is calculated by taking the number of subscribers of Turkcell Türkiye and of each of our subsidiaries. It includes the total number of mobile, fiber, ADSL, cable and IPTV subscribers of Turkcell Türkiye, as well as the mobile subscribers of BeST and Kuzey Kıbrıs Turkcell. (1) Subscribers to more than one service are counted separately for each service. This includes mobile, fixed broadband, IPTV, and wholesale (MVNO&FVNO) subscribers. The foreign exchange rates used in our financial reporting, along with certain macroeconomic indicators, are presented below. RECONCILIATION OF NON-GAAP FINANCIAL MEASUREMENTS: We believe that Adjusted EBITDA, among other key metrics, facilitates performance comparisons from period to period and aids management decision making. It also enables performance comparisons between companies. As a performance measure, Adjusted EBITDA eliminates potential differences caused by variations in capital structures (affecting interest expense), tax positions (such as the impact of changes in effective tax rates on periods or companies) and the age and book depreciation of tangible and intangible assets (affecting relative depreciation and amortization expenses). We also present Adjusted EBITDA because we believe it is frequently used by securities analysts, investors and other interested parties in evaluating the performance of other mobile operators in the telecommunications industry in Europe, many of which present Adjusted EBITDA when reporting their results. Our Adjusted EBITDA definition includes Revenue, Cost of Revenue excluding depreciation and amortization, Selling and Marketing expenses, Administrative expenses and Net impairment losses on financial and contract assets, but excludes finance income and expense, other operating income and expense, investment activity income and expense, share of profit of equity accounted investees and minority interest. Nevertheless, Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation from, or as a substitute for, analysis of our results of operations, as reported under IFRS. The following table provides a reconciliation of Adjusted EBITDA, as calculated using financial data prepared in accordance with IFRS to net profit, which we believe is the most directly comparable financial measure calculated and presented in accordance with IFRS. RECONCILIATION OF ARPU: ARPU is an operational metric and the methodology for calculating performance measures such as ARPU varies substantially among operators. It is not standardized across the telecommunications industry; thus, reported performance measures vary from those that may result from using a single methodology. Management believes this metric is helpful in assessing the development of our services over time. The following table shows the reconciliation of Turkcell Türkiye revenues to such revenues included in the ARPU calculations for Q224 and Q225. (1) Revenue from fixed corporate and wholesale business; digital business sales, tower business, and other non-subscriber-based revenues (2) Revenues from Turkcell Türkiye included in ARPU calculation comprise telecommunication services revenue, equipment revenue, and revenues not attributed to ARPU calculation. ABOUT TURKCELL: Turkcell, headquartered in Türkiye, is a leading technology and telecommunications company offering a diverse portfolio of voice, data, and IPTV services across its mobile and fixed networks, alongside digital consumer, enterprise, and techfin solutions. The Turkcell Group operates in three countries: Türkiye, Belarus, and Northern Cyprus. In Q225, Turkcell Group reported revenue of TRY53.0 billion, with total assets of TRY457.4 billion as of June 30, 2025. Listed on both the NYSE and BIST since July 2000, Turkcell remains the only dual-listed company on these exchanges. Read more at Appendix A – Tables Table: Net Foreign Exchange Gain and Loss Details Table: Income Tax Expense Details Expand TURKCELL İLETİŞİM HİZMETLERİ A.Ş IFRS SELECTED FINANCIALS (TRY Million) Half Ended Half Ended Quarter Ended Quarter Ended June 30 June 30 June 30 June 30 2025 2024 2025 2024 Consolidated Statement of Operations Data Turkcell Turkey 94,357.5 84,469.3 48,219.8 43,143.2 Fintech 5,827.8 4,584.2 2,916.3 2,369.4 Other 3,680.2 3,220.4 1,885.9 1,637.5 Total revenue 103,865.5 92,273.9 53,021.9 47,150.2 Total cost of revenue (74,981.6) (71,223.1) (38,579.1) (35,823.7) Total gross profit 28,884.0 21,050.8 14,442.8 11,326.5 Administrative expenses (4,095.9) (3,317.0) (1,975.4) (1,617.2) Selling & marketing expenses (6,749.5) (5,621.4) (3,341.5) (3,047.8) Other Income / (Expense) (671.2) (603.3) (194.5) (283.6) Net impairment loses on financial and contract assets (513.7) (633.7) (308.0) (339.5) Operating profit 16,853.7 10,875.4 8,623.4 6,038.3 Finance costs (10,648.7) (12,800.8) (5,058.9) (5,759.9) Finance income 7,085.3 5,522.4 2,891.5 2,122.2 Monetary gain (loss) 1,842.6 5,502.3 826.1 1,626.2 Share of loss of equity accounted investees (2,120.1) (1,110.8) (1,204.2) (1,028.9) Profit before income tax from continuing operations 13,012.8 7,988.5 6,078.1 2,997.9 Income tax income/ (expense) (5,357.6) (1,723.7) (1,690.1) 209.4 Profit for the year from continuing operations 7,655.2 6,264.8 4,387.9 3,207.3 Profit /(loss) from discontinued operations (187.4) 1,504.7 (187.4) 713.2 Profit for the year 7,467.8 7,769.5 4,200.5 3,920.5 Non-controlling interests - (9.7) - (1.8) Owners of the Company 7,467.8 7,779.2 4,200.5 3,922.3 Basic and diluted earnings per share for profit attributable to owners of the Company (in full TL) 3.43 3.57 1.93 1.80 Basic and diluted earnings per share for profit from continuing operations attributable to owners of the Company (in full TL) 3.51 2.88 2.01 1.47 Other Financial Data Gross margin 27.8% 22.8% 27.2% 24.0% EBITDA(*) 45,303.9 38,776.7 23,085.8 20,104.6 Total Capex 40,560.4 27,906.3 24,231.4 14,777.8 Operational capex 19,217.8 19,447.5 8,949.2 11,254.7 Licence and related costs 219.5 18.6 213.6 8.6 Non-operational Capex 21,123.1 8,440.2 15,068.5 3,514.5 Consolidated Balance Sheet Data (at period end) 6/30/2025 12/31/2024 Cash and cash equivalents 116,601.1 80,428.4 Total assets 457,381.7 401,679.9 Long term debt 113,421.1 61,178.2 Total debt 172,858.1 121,737.9 Total liabilities 237,675.3 183,538.7 Total shareholders' equity 219,706.4 218,141.2 (*) Please refer to the notes on reconciliation of Non-GAAP Financial measures on page 14 For further details, please refer to our consolidated financial statements and notes as at June 30, 2025, on our website Expand TURKCELL İLETİŞİM HİZMETLERİ A.Ş TURKISH ACCOUNTING STANDARDS SELECTED FINANCIALS (TRY Million) Half Ended Half Ended Quarter Ended Quarter Ended June 30 June 30 June 30 June 30 2025 2024 2025 2024 Consolidated Statement of Operations Data Turkcell Turkey 94,357.5 84,469.3 48,219.8 43,143.2 Fintech 5,827.8 4,584.2 2,916.3 2,369.4 Other 3,680.2 3,220.4 1,885.9 1,637.5 Total revenues 103,865.5 92,273.9 53,021.9 47,150.2 Direct cost of revenues (74,981.6) (71,223.1) (38,579.1) (35,823.7) Gross profit 28,884.0 21,050.8 14,442.8 11,326.5 Administrative expenses (4,095.9) (3,317.0) (1,975.4) (1,617.2) Selling & marketing expenses (6,749.5) (5,621.4) (3,341.5) (3,047.8) Other operating income 20,601.9 8,224.1 11,198.5 2,932.7 Other operating expense (1,226.0) (1,234.9) (483.8) (518.4) Operating profit 37,414.4 19,101.6 19,840.7 9,075.7 Impairment losses determined in accordance with TFRS 9 (513.7) (633.7) (308.0) (339.5) Income from investing activities 5,091.1 2,289.4 2,444.8 643.9 Expense from investing activities (125.6) (118.6) (66.0) (63.0) Share on profit of investments valued by equity method (2,120.1) (1,110.8) (1,204.2) (1,028.9) Income before financing costs 39,746.1 19,527.9 20,707.3 8,288.2 Finance income 87.6 485.4 (379.1) (345.7) Finance expense (28,663.5) (17,527.1) (15,076.3) (6,570.9) Monetary gain (loss) 1,842.6 5,502.3 826.1 1,626.2 Income from continuing operations before tax and non-controlling interest 13,012.8 7,988.5 6,078.1 2,997.9 Tax income (expense) from continuing operations (5,357.6) (1,723.7) (1,690.1) 209.4 Profit from continuing operations 7,655.2 6,264.8 4,387.9 3,207.3 Profit /(loss) from discontinued operations (187.4) 1,504.7 (187.4) 713.2 Profit for the period 7,467.8 7,769.5 4,200.5 3,920.5 Non-controlling interest - (9.7) - (1.8) Owners of the Parent 7,467.8 7,779.2 4,200.5 3,922.3 Earnings per share 3.43 3.57 1.93 1.80 Earnings per share from discontinued operations 3.51 2.88 2.01 1.47 Earnings per share from continuing operation -0.09 0.69 -0.09 0.33 Other Financial Data Gross margin 27.8% 22.8% 27.2% 24.0% EBITDA(*) 45,303.9 38,776.7 23,085.8 20,104.6 Total Capex 40,560.4 27,906.3 24,231.4 14,777.8 Operational capex 19,217.8 19,447.5 8,949.2 11,254.7 Licence and related costs 219.5 18.6 213.6 8.6 Non-operational Capex 21,123.1 8,440.2 15,068.5 3,514.5 Consolidated Balance Sheet Data (at period end) 6/30/2025 12/31/2024 Cash and cash equivalents 116,601.1 80,428.4 Total assets 457,381.7 401,679.9 Long term debt 113,421.1 61,178.2 Total debt 172,858.1 121,737.9 Total liabilities 237,675.3 183,538.7 Total equity 219,706.4 218,141.2 (*) Please refer to the notes on reconciliation of Non-GAAP Financial measures on page 14 For further details, please refer to our consolidated financial statements and notes as at June 30, 2025, on our website Expand
Associated Press
an hour ago
- Associated Press
DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Capricor Therapeutics
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Capricor To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $50,000 in Capricor between October 9, 2024 and July 10, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] New York, New York--(Newsfile Corp. - August 13, 2025) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Capricor Therapeutics, Inc. ('Capricor' or the 'Company') (NASDAQ: CAPR) and reminds investors of the September 15, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. [ This image cannot be displayed. Please visit the source: ] Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that defendants provided investors with material information concerning Capricor's lead cell therapy candidate drug deramiocel for the treatment of cardiomyopathy associated with Duchenne muscular dystrophy (DMD). Defendants' statements included, among other things, Capricor's ability to obtain a Biologics License Application (BLA) for deramiocel from the U.S. Food and Drug Administration (FDA). Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating false and misleading statements and/or concealing material adverse facts concerning its four-year safety and efficacy data from its Phase 2 HOPE-2 trial study of deramiocel. On July 11, 2025, Capricor issued a press release announcing it received a Complete Response Letter (CRL) from the FDA denying the BLA specifically citing it did not meet the statutory requirement for substantial evidence of effectiveness and the need for additional clinical data. Further, the CRL referenced outstanding items in the Chemistry, Manufacturing, and Controls section of the application. Following this news, the price of Capricor stock declined from $11.40 per share on July 10, 2025 to $7.64 per share on July 11, 2025. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Capricor's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Capricor Therapeutics class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. To view the source version of this press release, please visit
