Paltel records 3% revenue decline in 9M14

10 Nov 2014

Palestine Telecommunications Company (Paltel) has published its financial results for the nine months ended 30 September 2014, revealing a 3% year-on-year decline in turnover. For the period under review Paltel recorded consolidated operating revenues of JOD273.2 million (USD384.7 million), down from JOD281.6 million, noting that although it had registered increased revenues in the fixed and data sectors, these had been offset by lower mobile turnover. Earnings before interest, tax, depreciation and amortisation (EBITDA) totalled JOD114.9 million in 9M 2014, down from JOD123.7 million in the year earlier period, while net profit stood at JOD65.2 million, representing a year-on-year decline of 5%.

In operational terms, at the end of September 2014 Paltel reported a total mobile subscriber base of 2.645 million, of which the lion’s share (89.2%) were pre-paid, up from 2.630 million a year earlier. Fixed broadband accesses, meanwhile, numbered 230,000 at the end of the nine-month period under review, though fixed voice lines in services fell slightly, to 399,000 at end-September 2014 from 403,000 a year earlier.