Wed, Nov. 11, 10:07 AM
- Partner Communications (PTNR +0.1%) closed down 0.5% in Tel Aviv today after posting a net loss in Q3 on revenues that fell 9% amid "continued price erosion" in Israel's wireless market.
- The loss reflects "on the one hand, the intense competition in the cellular market over the last few years which has led to significant erosion in revenues in a relatively short period of time, and on the other hand, our limited ability to cut costs further," says CEO Isaac Benbenisti.
- Revenue by segment: Cellular, NIS821M (down 6%); Fixed-line, $237M (down 16%).
- The company's cellular subscriber base fell by about 5%, to 2.74M. Postpaid phone subscribers rose by 24,000; prepaid subscribers fell 32,000.
- Cellular average revenue per user was NIS 71 (about $18), down 7% Y/Y. Free cash flow was NIS291M (about $74M), up 160%.
- Conference call link
- Press Release
Wed, Nov. 11, 2:16 AM
Wed, Aug. 12, 9:58 AM
- Partner Communications (NASDAQ:PTNR) is 0.7% lower after a Q2 report where it beat expectations on top and bottom lines but pointed to an expected loss in Q3 from employee retirement plan costs and "continued intense competition."
- Profits fell 80% and the subscriber base dipped 6%, to 2.75M, at quarter's end.
- Revenue breakout: Service revenues, NIS 757M (down 12%); Equipment revenues, NIS 287M (up 28%). Of service revenues, NIS 581M were cellular segment (down 13%) and NIS 226M fixed-line (down 9%). In Equipment revenues, the vast majority (NIS 271M, up 24%) were cellular.
- In cellular, churn rate declined to 10.9%, down from the prior year's 11.4% and last quarter's 12.7%. Cellular ARPU came to NIS 70, up from Q1's 69, reflecting some seasonal roaming revenues.
- CEO Isaac Benbenisti said as part of the company's new framework with Orange, it's received an initial payment of €15M. It is conducting a market study regarding use of the Orange brand, "aimed at assessing our position within the dynamics of the Israeli telecommunications services marketplace, while examining all of the Company's options."
- The company is expecting a one-time charge of NIS 35M in Q3 related to its new labor agreements with Histadrut. The number of full-time employees is expected to drop by about 350 over the next few months.
- Conference call beginning now, at 10 a.m. ET.
- Press Release
Wed, Aug. 12, 4:06 AM
Wed, May 20, 11:38 AM
- Partner Communications (NASDAQ:PTNR) is trading down 1.3% after Q1 profits fell 52% Y/Y and missed expectations.
- Total revenues declined 4% as a slide in service revenues was partly offset by higher equipment sales. Breakouts: Service revenues of NIS 759M ($191M), down 13%; Equipment revenues of NIS 295M ($74M), up 30%.
- Cost of revenues was also up 2% as gross profit fell 27%.
- Hot competition in Israel's telecom industry continues taking a toll: The company ended the quarter with 2.77M subscribers, a drop of 162K. Churn was up to 12.7% from Q4's 11.5%. Cellular ARPU was NIS 69, down 3% sequentially.
- Free cash flow fell 86% to NIS 21M (about $5M), mainly due to increased capex along with EBITDA reduction.
- Related stocks: Cellcom (NYSE:CEL) down 1.5%; Bezeq (OTCPK:BZQIY) down 0.2%.
- Press Release
Wed, May 20, 5:39 AM
Thu, May 14, 1:23 PM
- Cellcom Israel (NYSE:CEL) is trading down 2.6% after Q1 earnings slid 77%, due in part to an extraordinary charge for voluntary retirement program.
- But even without that charge, earnings fell 55%. Net income of NIS26M (about $7M) was down from the prior NIS114M ($29M). Revenues (about U.S. $267M) dipped more than 6% Y/Y as competition in the Israel wireless market continues to run hot.
- EBITDA was NIS196M ($49M); excluding a one-time expense of NIS30M, EBITDA would be NIS226M ($57M). EBITDA margin was 18.5%, down from 30.1%.
- Revenue by segment: Service revenues, NIS800M; Equipment revenues, NIS262M.
- Cellular subscriber base was 2.885M at quarter's end.
- Free cash flow of NIS127M ($32M), down 65% Y/Y.
- Peer Partner Communications (NASDAQ:PTNR), which frequently moves in concert with Cellcom, is down 5%.
- Press Release
- Previously: Cellcom launching triple-play package in competitive Israel (May. 13 2015)
Wed, Mar. 11, 10:29 AM
- Israeli telecom Partner Communications (NASDAQ:PTNR) is trading down 2.8% after a Q4 report where it says that eroding profitability is likely to continue in 2015 amid a years-long price war in the market.
- Earnings per share of 0.15 shekels missed expectations of 0.22 shekels and revenues were off slightly Y/Y as an increase in equipment sales only partly made up for a slide in service revenues.
- By segment: Service revenues, NIS 808M ($208M, down 12%); Equipment revenues, NIS 300M ($77M, up 46%).
- Adjusted EBITDA of NIS 249M ($64M) met expectations.
- While equipment sales were up, profit margins on equipment were down due to chnage in product mix; "Going forward, profits from sales of equipment may continue to decrease," says CFO Ziv Leitman.
- Price competition took its toll: Cellular ARPU was NIS 71, down 6.6%. Churn for cellular subscribers was 11.5%, down from Q3's 12%.
- Press release
Wed, Mar. 11, 6:04 AM
Nov. 12, 2014, 6:49 AM
Aug. 13, 2014, 6:06 AM
May 14, 2014, 6:47 AM
Mar. 10, 2014, 6:11 AM
Nov. 19, 2013, 6:29 AM
Aug. 28, 2013, 6:42 AM
May 13, 2013, 1:32 PMIsraeli carrier Cellcom (CEL -5%) dives after missing Q1 estimates, and takes rival Partner (PTNR -4.3%) down with it. An intense price war sparked by the arrival of 6 new carriers led Q1 revenue to fall 20.6% Y/Y, and the company's subscriber base to fall 5.7% Y/Y to 3.17M. The slump has led Cellcom to suspend its dividend. It expects revenue to fall again in Q2, albeit at a "more moderate rate than experienced in previous quarters." Meanwhile, financing costs are expected to rise, thanks to high inflation. SG&A spend fell 18% Y/Y in Q1, as Cellcom continues reaping synergies from its 2011 merger with NetVision. (transcript) | May 13, 2013, 1:32 PM | Comment!
Partner Communications Co Ltd is a telecommunications company. The Company provides cellular and fixed-line telecommunication services, including airtime, interconnect, roaming and ISP services that provide access to the Internet.
Other News & PR