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Bezeq records 5.6% revenue increase in 3Q22 as it highlights fibre and 5G subscription growth

16 Nov 2022

Israel’s Bezeq has reported revenues of ILS2.26 billion (USD659 million) for the quarter ended 30 September 2022, an annual increase of 5.6% which the company said was driven by higher turnover from both the fixed and mobile sectors. Revenues from the company’s mobile unit Pelephone were up 12.4% year-on-year at ILS608 million in Q3 2022, while turnover from fixed services rose by 4.7%, to ILS1.09 billion, as an 11.1% uptick in fixed broadband revenue wiped out a 14.5% reduction in fixed voice turnover.

In terms of other key financial indicators, Bezeq said EBITDA totalled ILS934 in 3Q22, up from ILS925 million in the corresponding period a year earlier, while adjusted EBITDA also rose by 1.0% y-o-y, to ILS947 million. Net profit amounted to ILS302 million, meanwhile, representing an annualised increase of 6.3%, which the company attributed to higher operating profit as well a decrease in financing expenses for the fixed sector.

With regards to operational metrics, Bezeq claimed to have booked ‘record’ take-up for fibre-based broadband services, reporting 51,000 net new subscriptions in the quarter under review to lift its total to 212,000 as of 30 September 2022. At that same date total fixed broadband subscriptions numbered 1.505 million, however, down from 1.524 million a year earlier, and of the most recent total 1.024 million were retail (3Q21: 1.014 million), with the remaining 481,000 (510,000) being wholesale. Active fixed voice subscriptions also remained on a downward trajectory, falling to 1.522 million as of end-September 2022, compared to 1.602 million a year earlier.

In the mobile sector, meanwhile, Bezeq was keen to highlight the growth of 5G subscriptions, which increased to 753,000 as of 30 September 2022, representing just over 28% of the 2.675 million total mobile subscriptions reported for Pelephone (3Q21: 2.547 million). Monthly mobile ARPU was also up, reaching ILS58 in the third quarter of 2022, compared to ILS55 in the corresponding period of 2021.

Israel, Bezeq (Israel Telecommunication Corporation), Pelephone

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