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Partner Communications slumps to net loss in 3Q15

12 Nov 2015

Israel’s Partner Communications has released its 3Q15 report, recording lower revenues and EBITDA, and a net loss for the period. In the three months ended 30 September 2015 Partner generated total turnover of ILS1.006 billion (USD256 million), representing a 9% drop against the corresponding quarter of 2014, while service revenues totalled ILS760 million, down 12% year-on-year. Cellular service turnover was down 11% against 3Q14 at ILS587 million, while revenue from fixed line services was ILS225 million. Adjusted EBITDA in the three month period stood at ILS196 million, down 30% compared with the third quarter of 2014, with operating profit declining to just ILS32 million, a drop of 71% y-o-y. Cellcom posted a net loss of ILS9 million in 3Q15, a reduction of ILS49 million.

As at end-September 2015 Cellcom had a total of 2.739 million mobile subscribers on its books, having shed a net 155,000 against the same date a year earlier. Monthly average revenue per user (ARPU) continued to decline, falling by 7% y-o-y to ILS71, from ILS76.

Commenting on the quarterly performance, and the Israeli communications landscape, Partner CEO Isaac Benbenisti was cited as saying: ‘The third quarter results reflect the telecommunications market environment in which competition in the cellular market remains intense and is characterised by continued price erosion. The reform of the fixed line wholesale market, which includes internet and fixed telephony services, has still not been implemented as anticipated, and we are experiencing many difficulties, as well as prolonged and cumbersome regulatory processes, which limit the potential to succeed and create a competitive telecommunications market.’

Israel, Partner Communications Company

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