Partner's revenues rise in 3Q21 as mobile subscriptions top three million for first time in almost a decade

30 Nov 2021

Israel’s Partner Communications has reported a 5% year-on-year increase in revenue for the three months ended 30 September 2021, to ILS837 million (USD259 million). Service revenues were also up, rising 6% on an annualised basis to ILS672 million, with the operator saying this ‘reflected growth in fixed line and cellular services from subscriber growth in cellular and fibre-optics, with an increase in cellular roaming services’. Equipment revenues were, however, down marginally, standing at ILS165 million in Q3 2021, compared to ILS169 million in the year-ago quarter. Further, Partner reported an adjusted EBITDA of ILS250 million for the quarter under review, compared with ILS204 million in 3Q20, with operating expenses having declined to ILS467 million (3Q20: ILS475 million) as a result of lower interconnect and wholesale internet expenses, partly offset by higher payroll expenses. Meanwhile, net profit of ILS24 million compared favourably to the net loss of ILS5 million it saw in the corresponding period a year earlier.

With regards to operational indicators, Partner reported a total of 3.019 mobile subscriptions as of 30 September 2021, up from 2.762 million a year earlier, although monthly ARPU was lower, standing at ILS48 in 3Q21 compared to ILS51 in 3Q20. Quarterly mobile churn was 6.4% in the latest reporting period, down from 7.3%. In the fixed arena, meanwhile, Partner reported a total of 192,000 fibre-optic broadband subscriptions as of end-September 2021, up from 120,000 a year earlier, while it noted that there were a total of 624,000 premises connected to its fibre infrastructure. In addition, what the company referred to as ‘infrastructure-based internet subscribers’ totalled 365,000 as of 3Q21, up from 311,000 a year earlier. Finally, Partner’s pay-TV subscriptions numbered 226,000 as of 30 September 2021, broadly unchanged from the 224,000 it reported a year earlier.

Commenting on the company’s performance, Partner CEO Avi Zvi said: ‘Partner exceeded the three million cellular subscribers mark for the first time in almost a decade, and continued to reduce the churn rate to the lowest level since 2011. This achievement is a major part of our strategy to invest in customer service and technology, in order to maintain our customers’ high loyalty levels owing to their satisfaction with the service we provide.’

Israel, Partner Communications Company