Cellcom’s revenues, EBITDA rise in 3Q; net profit down due to one-off gain last year

11 Nov 2008

Israel’s largest mobile operator by subscribers, Cellcom, has revealed a 5% increase in total revenues year-on-year for the three months ended 30 September 2008, with the operator attributing the growth to an increase in revenues from content and value added services. Total revenues for the three-month period were USD482.3 million, while earnings before interest, tax, depreciation and amortisation (EBITDA) also increased, rising 12.9% to USD184.2 million. Net profit for the operator however saw an 11% fall y-o-y to USD69.9 million, although this was attributed to a one-off gain in the same period last year; eliminating the tax provision release from 3Q 2007 the cellco actually increased net income by 20.1%. Cellcom also reported a higher than expected increase in subscriber figures, adding 40,000 new customers – all post-paid – to reach 3.16 million.

Israel, Cellcom