Partner revenues down in 3Q17, despite marginal q-o-q increase in mobile subscribers

22 Nov 2017

Israel’s Partner Communications has published its financial results for the three months ended 30 September 2017, reporting total revenues of ILS826 million (USD234 million), down 3% year-on-year. Service revenues amounted to ILS666 million, representing an annualised fall of 5%, while service revenues for the cellular segment in 3Q17 were ILS514 million, down 3% y-o-y, a decline which the company said was mainly due to the ‘continued price erosion of cellular services (both post-paid and pre-paid) due to the continued competitive market conditions’. Meanwhile, service revenues for the fixed line segment stood at ILS194 million in the period under review, down 12% from ILS220 million in 3Q16, reflecting ‘the continuing decrease in revenues from international calls as well as other fixed line services’.

Partner’s operating profit for its most recent fiscal quarter totalled ILS92 million, an increase of 44% compared with ILS64 million in 3Q16, while adjusted EBITDA was ILS239 million, up 9% y-o-y. As a percentage of total revenues, adjusted EBITDA in 3Q17 was 29%, up from 26% in the same period a year earlier. Net profit was up significantly, meanwhile, reaching ILS54 million, compared to ILS19 million in 3Q16.

In operational terms, Partner’s mobile subscriber base totalled 2.677 million at the end of September 2017, up marginally from 2.662 million three months earlier, but down from 2.693 million at 30 September 2016. Monthly blended ARPU stood at ILS64 in 3Q17, down from ILS66 a year earlier but up from ILS62 in 2Q17.

Israel, Partner Communications Company