Net profit, EBITDA rise in 1Q 2009 for Cellcom

26 May 2009

Israeli mobile operator Cellcom has released its fiscal results for the three-month period ended 31 March 2009, posting a 27.5% year-on-year rise in net profit to ILS348 million (USD83 million). Earnings before interest, tax, depreciation and amortisation (EBITDA) were also up, rising 3% y-o-y to ILS611 million. However, the cellco reported that total revenue for the three-month period had declined 2.1% against the same period a year earlier; the drop was attributed to lower sales of handsets and accessories, which fell to ILS188 million compared to ILS237 million last year, a 20.7% decline. Revenues from content and value added services (VAS) surged 36.5% however, up to ILS202 million from ILS148 million in 1Q 2008.

Cellcom reported that its subscriber base had risen to 3.208 million at the end of March 2009, a 3.6% increase against the same date last year. It also revealed that subscribers signing up to its 3G services had risen to approximately 833,000, over a quarter of its user base, rising 102,000 in the quarter.

Israel, Cellcom