Company Cellcom Ends the third quarter of the year with revenues of NIS 994 million, an increase of 4% compared to the corresponding quarter last year. The improvement in revenues is mainly due to the return of flights and revenues from roaming services. The net profit for the quarter amounted to NIS 13 million, compared with a loss of NIS 37 million in the third quarter of 2020 and a loss of NIS 14 million in the previous quarter.
The company reports an improvement in cash flow, which is also due, among other things, to Golan Telecom’s results, and it amounted to NIS 110 million, compared with NIS 44 million in the third quarter of 2020, an increase of about 150%.
The company’s number of subscribers on television has not increased and is shuffling around 250,000 subscribers in the current quarter as well. In cellular, the company increased its customer base by 20,000 new customers. The abandonment rate dropped from 8.6% in the previous quarter to 7.2%, most likely due to a change in the count and classification of the number of subscribers.
While the company reports an increase of 10,000 subscribers in Internet services in fiber (to the amount of 123 thousand), in revenue this is not reflected but the opposite. Revenues decreased from NIS 365 million in the corresponding quarter to 348, NIS million in the current quarter, a decrease of 4.6%. This indicates a lot of competition in the fiber world and low profitability in the wholesale market.
The company’s revenues from services in the cellular sector improved slightly and increased to NIS 474 million, compared with NIS 461 million in the previous quarter and NIS 414 million in the corresponding quarter last year, with the gap explained mainly in Corona.
Revenue from end equipment eroded and amounted to NIS 211 million (compared with NIS 223 million in the previous quarter), mainly due to the chip crisis and the shortage of devices, as well as due to the late launch of the iPhone 13.
Avi Gabay, CEO of the Cellcom Group, said that “the results for the quarter, and this year in general, illustrate that the actions we took led to a dramatic improvement in the company’s situation in all parameters, both in the customer segment and in financial results, especially in cash flow. We have placed the improvement in the level of fairness and customer service and the improvement in infrastructure at the top of our priorities, the results are already evident in the field, and we will continue to invest in this in the future as well. “