Competition hurts Matav

22 Mar 2005

Matav Cable Systems Media has reported a net loss of ILS83 million (USD19.2 million) for the year ending 31 December 2004, compared to a net loss of ILS5.5 million in 2003. Revenue for the year was ILS578.7 million, although fourth quarter sales were down from ILS142.9 million to ILS138.5 million as a result of increased competition in the Israeli multi-channel television market. At the end of the year Matav had 257,300 subscribers, down from 259,300 at the end of September, although ARPU increased to ILS202.7. The number of broadband internet customers rose to more than 92,000.

Israel, HOT Telecommunication Systems