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Partner Communications records 6% y-o-y increase in revenue for 3Q22

24 Nov 2022

Israel’s Partner Communications has reported a 6% year-on-year increase in revenue for the third quarter of 2022, saying this ‘reflected growth in both cellular and fixed line services, due to an increase in roaming services and subscriber growth in fibre-optics’. In the three month period under review Partner generated a total turnover of ILS891 million (USD252 million), while service revenues were up 8% against Q3 2021 at ILS728 million, although equipment revenues declined by 1% y-o-y, to ILS163 million. In terms of other key financial indicators, Partner reported an adjusted EBITDA of ILS276 million for 3Q22, up from ILS250 million in the corresponding period a year earlier, while net profit increased to ILS51 million (3Q21: ILS24 million). Capital expenditure for the third quarter of 2022 was ILS205 million, meanwhile, up from ILS172 million one year earlier.

In terms of operational highlights, Partner reported that it was serving a total of 3.042 million mobile subscriptions at 30 September 2022, up only marginally y-o-y, after the company shed around 54,000 post-paid subscriptions in the third quarter of the year. Monthly mobile ARPU was up, however, standing at ILS51 in 3Q22, compared to ILS48 a year earlier. Partner also offered an update on its 5G network rollout, confirming that it now expects to have reached more than 40% of the population with the new mobile broadband technology by the end of this year.

Meanwhile, with Partner confirming that its fibre-to-the-premises (FTTP) infrastructure had been extended to reach 900,000 premises by the end of September 2022, up from 624,000 a year earlier, it reported a total of 268,000 fibre-based fixed broadband subscriptions (Sep-21: 192,000).

Israel, Partner Communications Company

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