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Flood of reports: Altshuler's profit jumped, cellular companies continue to lose

The reporting season is up and running. Cellcom's loss deepened to NIS 46 million in the quarter. Strauss recorded a 6.5% decline in revenue due to currency changes. Bezeq made a profit of NIS 270 million in the second quarter

• Cellcom
• Altshuler Shaham

Globes service

09:00

Cellcom published reports according to which the cellular company recorded a loss of NIS 46 million, compared with a loss of NIS 35 million in the corresponding period last year. The operating loss amounted to NIS 22 million, compared with an operating profit of NIS 6 million in the corresponding quarter last year. Total revenues decreased by 7.1% compared to the corresponding quarter last year and amounted to NIS 855 million. Cellcom's revenues from services amounted to NIS 683 million, compared with NIS 695 million in the corresponding quarter. This is a decrease of 1.7%. The adjusted EBITDA (profit before taxes and deductions) amounted to NIS 222 million, compared with NIS 233 million last year. A decrease of 4.7%.

For comparison, Pelephone recorded revenue from services in the second quarter of NIS 394 million, compared with NIS 430 million in the corresponding quarter, a decrease of 8.4%. Pelephone's operating loss in the second quarter amounted to NIS 8 million, similar to the corresponding quarter. EBITDA in the second quarter amounted to NIS 143 million, compared with NIS 148 million in the corresponding quarter, a decrease of 3.4%. As a result of the erosion, the average income per subscriber fell to NIS 55 per month, compared with NIS 58 million in the previous quarter.

Rami Levy concludes the second quarter with a decrease of 1.49% in revenues compared to the corresponding quarter last year to NIS 1.52 billion. Net profit increased by 12.2% and amounted to NIS 35.9 million. Gross profit increased by 8.3% to NIS 377.4 million.

Meitav Dash reported a record quarter in revenue from the stock exchange and institutional brokerage, which amounted to NIS 41 million in the second quarter - an increase of 64% compared to a figure of NIS 25 million in the corresponding quarter last year and an increase of 17% compared to the previous quarter. The net profit in the second quarter amounted to NIS 30 million, compared with NIS 13 million in the previous quarter and NIS 23 million in the corresponding quarter last year. Revenues in the second quarter amounted to NIS 233 million, similar to the corresponding quarter last year and NIS 239 million in the previous quarter.

Elbit Systems has won a $ 27 million contract to supply systems for training and investigating air battles for the South Asian navy.

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08:30

Bezeq published reports according to which the company moved to a profit of NIS 270 million in the second quarter, compared with a loss of NIS 1.57 billion in the corresponding period last year. The increase in the Group's results was mainly due to the listing in the corresponding quarter last year that affected operating profit, which is a loss from goodwill in the cellular communications segment of NIS 951 million, which was partially offset by a capital gain of NIS 403 million from the sale of real estate in Skia.

Bezeq has published a forecast for the entire year 2020, according to which the adjusted net profit for shareholders is expected to be approximately NIS 950 million. Adjusted EBITDA is expected to be NIS 3.5 billion. The CAPEX is expected to be about NIS 1.5 billion.

Altshuler Shaham Gamel published reports according to which the total profit increased to NIS 54.78 million, compared with NIS 38.5 million in the corresponding period last year.

Hilan ended the second quarter with a net profit of NIS 31.7 million, compared with a net profit of NIS 28.8 million in the corresponding period last year. This is an increase of 10%. On the top line, Hilan's revenues climbed to NIS 389.7 million, compared with NIS 387.6 million in the corresponding period last year.

Africa Residence, which belongs to the Lapidot Capital Group, which acquired control of Africa Israel, published reports for the second quarter. Revenues from the sale of apartments fell to NIS 300 million, compared with NIS 315 million in the corresponding quarter last year. The gross profit margin from the sale of apartments was 15% in the second quarter, similar to the corresponding quarter last year. On the bottom line, net profit rose by about 19% to NIS 21 million. The increase is attributed to an increase in the profits of affiliated companies. The company's share of sales of housing units fell to NIS 123 million in the second quarter, compared with NIS 228 million in the corresponding period last year.

08:00

Strauss published its reports for the second quarter of 2020, according to which the company recorded a 4% increase in the bottom line to NIS 306 million. In the second quarter, revenues amounted to NIS 1.94 billion. This is a decrease of 6.5% compared to the corresponding quarter last year due to currency erosion. Excluding a currency effect, revenue growth was 1.5%. The effect of exchange rates on the Company's sales in the second quarter amounted to NIS 164 million, of which NIS 138 million is due to the weakening of the Brazilian real against the shekel. The effect of the erosion of exchange rates in the first half of 2020 amounted to NIS 266 million, of which NIS 215 million was due to the weakening of the real against the shekel.

Bezeq chairman David Granot announced his retirement. Granot had previously been temporary chairman of the company in light of Gil Sharon's expected entry into the position of permanent chairman.

07:00

Trading on the Tel Aviv Stock Exchange is expected to open this morning (Monday) following the gains recorded yesterday, as the first response to a report submitted on Thursday on an agreement to normalize relations with the United Arab Emirates.

The TA 35 index rose by 1.4%, the TA 90 climbed by 1.3% and the banks index jumped by 2.3%. The corporate channel also climbed in the lead of CPI-linked bonds following the publication of a surprising July index.

Yesterday, the economy's GDP data were released, indicating a contraction of 28.5% in the second quarter of 2020, and slightly below the expected 30% contraction. A sharp jump in growth, and especially in private consumption. "As part of the new routine that is emerging, the level of economic activity has not returned to that of the pre-Corona, and we expect GDP to shrink by 7% this year," the workers'

confidence index said in July. recorded since 2003, with a completion period of the intifada and exit from the recession.

reporting season will continue to focus interest in the publication of the results of Bank Mizrahi Tefahot, seal, telecommunications, HILAN, Cellcom and Strauss.

yesterday the stock gains were prominent in Tel Aviv Bern surged 15% against the background of a proposal To acquire the subsidiary in Germany. Doral Energy rose by 7%, Navatis jumped by 10%, El Al by 5%, Batem jumped by 10%, Dor Alon jumped by a similar rate, Tzur jumped by 7.1%. The company G1 published reports and announced a dividend of NIS 10 million. Structure stood out with a 7.3% increase after raising the FFO forecast.

Yesterday it was revealed in "Globes" that Aaron Frenkel is considering the acquisition of Satcom.

Kopix reduced the loss amid the closure imposed as a result of the corona spread. The discount chain of cafes and neighborhood supermarkets, which is controlled by Rami Levy, closed 25 stores in the first half of the year - about a quarter of its cafes.