A dream opening for Avi Gabai: Partner revenues at a 6-year high
After the exchange of owners and CEO, the Partner Group reports record revenues for 6 years: NIS 859 million and a net profit of NIS 47 million. CEO, Avi Gabbai: "We will continue to invest in fiber and 5G infrastructure"
Thursday, August 11, 2022, 08:56 Updated: 09:11
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The campaign starring Static was apparently successful.
Excellent results for the partner (Photo: Micah Loubton)
The Partner Group, which recently came under the control of the Rodev-Gabai Group and appointed Avi Gabbay as CEO (after only at the end of 2021 he retired from managing competitors from Cellcom) reports a net profit of NIS 47 million in the second quarter of 2022.
The Adjusted EBITDA shows a 7-year high and amounted to to NIS 276 million, an increase of 30% compared to the corresponding quarter last year.
Revenues show a 6-year record and amounted to NIS 859 million. The average revenue per mobile subscribers (ARPU) rose for the first time in 5 quarters and amounted to NIS 49.
Avi Gabai, CEO of the Partner Group. Couldn't have expected a better opening than this (Photo: Cellcom)
The runway of the new management
Partner presents more excellent data, which, even if it is too early to appropriate them for the actions of the new management, provide it - at the very least - with a dream starting point: the number of mobile phone subscribers stands at approximately 3.1 million as of the end of the quarter;
An increase of 32 thousand subscribers in the second quarter, the number of households connected to the fiber optic infrastructure stands at 866 thousand as of today;
An increase of 67 thousand subscribers in the second quarter and the state of fiber optic subscribers stands at 258 thousand as of today;
An increase of 17 thousand subscribers in the second quarter.
The churn rate of mobile phone subscribers (excluding packages from the Ministry of Education) also decreased to 6.6%, compared to 7.4% in the second quarter of 2021.
The company's mobile market share is estimated at 28%, compared to 27% at the end of the quarter The second for 2021.
Households in buildings connected to the fiber optic infrastructure (Homes Connected) totaled 837 thousand, an increase of 67 thousand in the second quarter.
As of the date of publication of the reports, Partner has 866 thousand households in buildings connected to the fiber optic infrastructure.
Fiber optic subscriber base amounted to 250 thousand subscribers, an increase of 17 thousand subscribers in the second quarter. As of the date of publication of the reports, Partner has 258 thousand fiber optic subscribers .
Infrastructure-based Internet subscriber base amounted to 395 thousand subscribers, an increase of 8,000 subscribers in the second quarter.
A slight decrease was recorded in television subscribers whose number amounted to 224 thousand, a decrease of only one thousand subscribers in the second quarter, despite the price increase led by the company in this sector (in the second quarter of 2021, the company deleted approximately 21 thousand television subscribers).
Avi Gabai, CEO of the Partner Group:
"We are happy about the good results that reflect stability and growth. We will continue to invest in fiber and 5G infrastructure and services to give our customers more value."
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