After 5 years of losses, company Cellcom This morning (Thursday), it published reports for 2021, according to which it switched to an annual profit of NIS 27 million, compared with a loss of NIS 170 million in 2020.
The company’s revenues grew by about 14% and amounted to NIS 4.1 billion, compared to NIS 3.67 billion in the previous year, with the increase due to the full consolidation of Golan Telecom’s results that in 2020 was owned by Cellcom for only 4 months, an increase in roaming services and an increase in landline operations. The group made an operating profit of NIS 209 million, compared with a loss of NIS 23 million in 2020.
In cellular, Cellcom recorded revenues of NIS 2.78 billion, compared with NIS 2.36 billion in the previous year, an increase of 17.7%. Revenues from services (airtime) grew in the cellular sector by 12.5% and stood at NIS 1.86 billion.
The number of cellular subscribers grew by 2.2% and amounted to 3.27 million subscribers, while the annual abandonment rate decreased from 40% in 2020 to 31%. The company reported 135,000 fiber optic subscribers, an increase of 45%.
In the end equipment segment, Cellcom is opening burners with revenues of NIS 915 million – an increase of 30% compared to the previous year. The achievement was attributed to the Cellcom Dynamics store chain, which accelerated its sales activity, mainly in digital and in stores at the same time.
Cellcom’s fixed-line segment recorded a stagnation in revenue and amounted to NIS 1.47 billion, a decrease of 0.5% compared with the previous year, but improved profitability with segmental EBITDA of NIS 449 million, an increase of 14%.
In the past year, Cellcom has not increased the number of its TV subscribers, and it seems that the activity has exhausted itself, and the company is looking for solutions to continue losses in the field, as has already been revealed in Globes.