Partner Communications’ net profit more than halved in 2018

28 Mar 2019

Israel’s Partner Communications has published its financial results for the year ended 31 December 2018, reporting declines in most key metrics. In the twelve-months under review Partner generated a total turnover of ILS3.259 billion (USD870 million), down marginally from ILS3.268 billion in 2017, noting that while equipment revenues for the latest fiscal year did increase – by 7% year-on-year to ILS735 – this failed to fully offset a 2% annualised drop in service revenues to ILS2.524 billion. Furthermore, Partner’s adjusted EBITDA in 2018 stood at ILS722 million, representing a y-o-y drop of 21%, with operating profit sliding to ILS116 million, from ILS315 million in 2017. Net profit, meanwhile, was less than half of that recorded for 2017, with it totalling ILS54 million for the operator’s most recent annual reporting period, down from ILS114 million twelve months previously.

In operational terms, Partner’s cellular subscriber base totalled 2.65 million at the end of 2018 – down by around 16,000 y-o-y – of which around 2.36 million were post-paid. Average revenue per user (ARPU) was also down, falling to ILS58 per month for 2018, compared to ILS62 in the previous year.

Israel, Partner Communications Company