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Last $4.92 USD
Change Today +0.06 / 1.23%
Volume 64.1K
CEL On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

cellcom israel ltd (CEL) Key Developments

Cellcom Israel Ltd. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

Cellcom Israel Ltd. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the year, the company reported revenue of ILS 4,570 million against ILS 4,927 million a year ago. Operating profit was ILS 662 million against ILS 651 million a year ago. This was due to its ongoing focus on maintaining strong business efficient and keeping tight control over the cost of CapEx, which lead to a lower amortization. Profit before taxes on income was ILS 464 million against ILS 405 million a year ago. Profit for the year attributable to the owners of the company was ILS 351 million against ILS 287 million a year ago. Profit for the year was ILS 354 million against ILS 288 million a year ago. Increase in net income was primarily due to slightly higher operating income, lower financial and tax expenses. Diluted earnings per share were ILS 3.48 against ILS 2.86 a year ago. Net cash from operating activities was ILS 1,557 million against ILS 1,556 million a year ago. Acquisition of property, plant, and equipment was ILS 289 million against ILS 275 million a year ago. Acquisition of intangible assets was ILS 77 million against ILS 90 million a year ago. EBITDA was ILS 1,282 million compared to ILS 1,335 million a year ago. The decrease in revenues is attributed mainly to a 10.5% decrease in service revenues as a result of the increased competition in the market, from ILS 3,985 million in 2013 to ILS 3,565 million in 2014. The decrease in Revenue was partially offset by an increase in equipment revenues, which totaled ILS 1,005 million in 2014 compared to ILS 942 million in 2013. Revenues for the fourth quarter of 2014 decreased 5.7% totaled ILS 1,140 million compared to ILS 1,209 million in the fourth quarter of last year. The decrease in revenues is attributed mainly to a 14.5% decrease in service revenues, which totaled ILS 835 million in the fourth quarter 2014 as compared to ILS 977 million in the fourth quarter of 2013. The decrease in Revenue was partially offset by a 31% increase in equipment revenues, which totaled ILS 305 million in the fourth quarter of 2014 as compared to ILS 232 million in the fourth quarter last year. Operating income for 2014 increased 1.7% to ILS 662 million from ILS 651 million in 2013. EBITDA for 2014 decreased 4.0% to ILS 1,282 million from ILS 1,335 million in 2013. EBITDA for 2014 excluding one-time effects in the amount of approximately ILS 27 million totaled ILS 1,255 million. Net income for the fourth quarter 2014 decreased 46.1% to ILS 55 million from ILS 102 million in the fourth quarter of 2013. Basic earnings per share for the fourth quarter of 2014 totaled ILS 0.52 compared to ILS 1.02 in the fourth quarter of last year. The lowered its net debt by approximately ILS 850 million during 2014 and its net debt now stands at approximately ILS 2.95 million.

Cellcom Israel Ltd. Announces Filing of a Purported Class Action

Cellcom Israel Ltd. announced that a purported class action was filed against the company, by plaintiffs alleging to be subscribers of the company, claiming compensation for non monetary damages in connection with allegations that the company unlawfully violated the privacy of its subscribers. The amount claimed from the company, if the lawsuit is certified as class action is estimated by the plaintiffs to be NIS 15 billion, all for alleged non monetary damages. At this early stage the company cannot assess the lawsuit's chances of success.

Cellcom Israel Ltd. to Report Q4, 2014 Results on Mar 16, 2015

Cellcom Israel Ltd. announced that they will report Q4, 2014 results at 10:00 AM, US Eastern Standard Time on Mar 16, 2015

Cellcom Israel Ltd., Q4 2014 Earnings Call, Mar 16, 2015

Cellcom Israel Ltd., Q4 2014 Earnings Call, Mar 16, 2015

Cellcom Israel Reaches Deal with Workers' Union

Cellcom Israel (CEL) has reached a 3-year deal between employees and the Isreali labor union Histadrut. The agreement, announced over the weekend, defines employment policy, wages, benefits and terms of dismissal. The agreement also includes innovative terms such as when employees are entitled to participate in Cellcom's operational income over a certain threshold and enjoy additional payments, under certain conditions. The estimated cost of the agreement over the next three years is approximately ILS 200 million (approximately $52 million) before tax.

 

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