Paltel reports solid third quarter results

6 Nov 2013

Palestine Telecommunications Company (Paltel), the country’s fixed line incumbent, generated net revenues of USD397 million in the third quarter of 2013, it has announced, up from USD388 million in the corresponding period of 2012. EBITDA for the three months ended 30 September 2013, meanwhile, stood at USD175 million, representing a year-on-year increase of 5.4%, while net profit rose by 9.5%, from USD88 million in 3Q12 to USD97 million a year later.

At the end of September 2013 Paltel’s fixed voice accesses numbered 401,000, up from 391,000 a year earlier, with the telco saying that growth had come amid continued efforts to draw in new subscribers with ‘attractive acquisition campaigns launched in the first half of the year’. In terms of ADSL subscribers, the company was serving a total of 208,000 such connections, up 23% year-on-year, though its share of the retail market continues to decline. Hadara, the operator’s internet service provider (ISP) unit reportedly had 88,100 broadband customers on its books, with Paltel claiming it had a market share of around 45%, down from 50% a year earlier, and 52% at end-September 2011. In the mobile arena, meanwhile, the company’s ‘Jawwal’ unit had some 2.63 million subscribers at the end of the reporting period, up from 2.59 million at end-September 2012. Such growth, it said, had allowed it to ‘successfully maintain its leadership of the mobile sector despite growing competition’.