Avi Zvi, chief executive of Israel’s Partner Communications, said his company had begun 2022 with ‘excellent results despite the competitive market’, as it unveiled its financial performance for the first quarter of 2022. In the three months ended 31 March 2022 Partner generated a total turnover of ILS854 million (USD269 million), up 3% year-on-year, with an 8% increase in service revenues – to ILS690 million – more than offsetting a 15% drop in equipment revenues, which fell to ILS164 million. According to the company, the uplift in service revenues ‘reflected growth in cellular and fixed line services from subscriber growth in cellular and fibre-optics and an increase in cellular roaming services’.
With regards to other key financial indicators, Partner reported adjusted EBITDA of ILS257 million in Q1 2022, up from ILS209 million in the opening quarter of 2021, while operating profit rose significantly, from ILS28 million to ILS72 million. Net profit for the quarter under review totalled ILS39 million, representing a notable improvement from the ILS5 million it recorded in 1Q21.
In terms of operating highlights, Partner reported a mobile subscription total of 3.063 million as of 31 March 2022, up from 2.903 million a year earlier, of which the bulk – around 2.71 million – were post-paid. Monthly mobile ARPU was ILS48, unchanged from 1Q21, with the company saying this stability reflected an increase in roaming services revenues which was offset by continued price erosion and decrease in interconnect contribution to ARPU.
In the fixed sector, meanwhile, Partner reported having 233,00 fixed broadband subscriptions connected via fibre-optic technology, up from 155,000 a year earlier, while it said its ‘infrastructure-based internet subscriber base’ numbered 387,000 as of 31 March 2022 (Mar-21: 339,000). An update on the coverage of the operator’s fibre-optic network was also offered up, with it confirming that 770,000 premises were reached by its infrastructure as of 1Q22, up from 514,000 a year earlier.