Partner reports 9% y-o-y revenue increase for Q2 2021

18 Aug 2021

Israel’s Partner Communications has reported a 9% year-on-year increase in total turnover for the three months ended 30 June 2021, with the company seeing increases in both service and equipment revenues. In the period under review, the company generated a total turnover of ILS840 million (USD258 million), up from ILS774 million in 2Q20, with service revenues representing the lion’s share of the total – ILS649 million, up from ILS616 million. According to the operator, the increase in service revenues ‘reflected growth in fixed line and cellular services as subscriber growth continues in fibre, TV and cellular, with an increase in cellular roaming services’. Equipment revenues, by comparison, rose to ILS191 million from ILS158 million, with growth said to reflect a higher volume of equipment sales in both the mobile and fixed line sectors. Furthermore, Partner reported adjusted EBITDA of ILS213 million for 2Q21, up from ILS200 million a year earlier, with operating expenditure rising to ILS485 million from ILS456 million. Net profit for the quarter under review totalled ILS9 million, up marginally from ILS7 million in 2Q20, while capital expenditure increased by ILS20 million y-o-y to ILS139 million.

In terms of operational highlights, Partner reported a mobile subscriber base totalling 2.970 million as of 30 June 2021, up from 2.708 million a year earlier, while monthly average revenue per user (ARPU) stood at ILS48, down from ILS51 y-o-y. In the fixed line sector, Partner said it had 173,000 fibre-optic subscribers as of mid-2021, up from 101,000 a year earlier, while it noted that the number of ‘households in buildings connected to its fibre-optic infrastructure’ totalled 571,000 at the end of the reporting period, up from 396,000. The number of ‘infrastructure-based internet subscribers’ also continued to rise, reaching 354,000 at 30 June 2021, up from 295,000 a year earlier.

Commenting on the company’s quarter performance, Tamir Amar, Partner’s Deputy CEO & CFO, said: ‘In the second quarter of 2021, growth in revenues continued while maintaining a cost structure that enabled growth in profit. A moderate return of roaming service revenues along with an increase in the subscriber base led to cellular service revenue growth compared to the corresponding period last year. The fixed line segment’s growth trajectory continued along with an improvement in adjusted EBITDA.’

Israel, Partner Communications Company