Avi Zvi Partner CEO (Israel Photography Shem Tov)
Communications giant Partner this morning released its report for the third quarter of 2021, which includes some important news for it just before a group of investors, led by Avi Gabay and Shlomo Rodev and supported by the Phoenix Fund, acquire it from SBIT, which is controlled by Hong Kong Hutchison.
Partner revenues from July to September amounted to NIS 837 million – an increase of 5% compared to the corresponding quarter last year; The increase came from the services sector (NIS 672 million, an increase of 6%) while equipment sales decreased (by 2% to NIS 165 million); Operating profit decreased by 2% to NIS 467 million; But adjusted EBITDA rose by 23% to NIS 250 million; And the bottom line is that the company moved from a loss of NIS 5 million a year ago to a net profit of NIS 24 million, and from a loss of 3 cents per share to a profit of 13 cents per share.
In the cellular field, the average customer revenue (ARPU) fell by 6% to NIS 48 per month, but on the other hand the company recorded two achievements in the field: the number of its cellular subscribers crossed the 3 million mark to 3.2 million – an increase of 9% and market share 28%, with an increase of 49,000 subscribers in the quarter and 257,000 a year – and the abandonment rate dropped to 6.4% – the lowest since 2010. “This achievement is a key part of our service and technology investment strategy, in order to maintain our customers’ high loyalty thanks to satisfaction From the service they receive from us, “said the company’s CEO, Avi Zvi.
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As for Partner’s flagship project in the last half decade – the deployment of fiber optics – it continues to reap success, with 192,000 Partner Faber subscribers as of the end of the third quarter, and by the day the report was published the number had crossed 200,000. It has another 173,000 Internet subscribers in Bezeq and Hot infrastructures, and a total of 365,000 home Internet subscribers. The company announced that its fiber-optic deployment is already available to 624,000 households, and that a continuum of one million households with available fiber infrastructure will be achieved by the end of 2022 instead of 2023, as previously planned.
The company’s TV service, Partner TV, is recording a significant slowdown in growth, with an increase of only 3,000 subscribers this quarter, bringing the total to 226,000 (apparently a lower number than the first quarter, but the reason is the deletion of 21,000 “dead subscribers”). “In the previous quarter)
“In an era of frequent technological changes that affect consumption habits, Partner strives to position itself as a leading company in the Israeli communications market, thanks to being the driving force in the fiber revolution in Israel and the first to implement the super-aggregator model on television,” said Zvi. And Gabay, “to the extent that it is completed subject to the required approvals, it is first and foremost an expression of confidence in the power of Partner and in the capabilities of the company and its employees.”
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