Cellcom reveals increase in net income, revenues in 2010

16 Mar 2011

Israel’s largest mobile network operator by subscribers, Cellcom, has unveiled its financial results for the twelve months ended 31 December 2010, posting a 9.2% year-on-year increase in net income. The cellco reported that in its 2010 financial year it generated net profit of ILS1.291 billion (USD364 million), up from ILS1.182 billion a year earlier, while in the final three months of the year it saw net income climb by almost 18% against the same period a year earlier. Revenues meanwhile for FY2010 stood at ILS6.662 billion, up 2.8% against the previous year, with Cellcom reporting that turnover from content and value added services (including SMS) rose by 26.1% y-o-y and accounted for approximately 19% of services revenues. Earnings before interest, tax, depreciation and amortisation (EBITDA) in the twelve months to end-2010 was ILS2.667 billion, an increase of 5.5% against FY2009.

In operational terms, at 31 December 2010 Cellcom’s total subscriber base stood at 3.394 million, with the cellco noting that it had added 102,000 net new customers over the year, all of which it claimed were post-paid subscribers. The operator’s 3G subscriber base meanwhile totalled 1.14 million at the end of 2010, with Cellcom having added 143,000 net new third-generation customers over the course of 2010.

Israel, Cellcom