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Last $2.25 USD
Change Today -0.0284 / -1.25%
Volume 4.2K
PTNR On Other Exchanges
Symbol
Exchange
NASDAQ GS
Tel Aviv
As of 12:58 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

partner communications-adr (PTNR) Key Developments

Partner Communications Company Ltd. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Cash Flow Guidance for the Second Quarter of 2015

Partner Communications Company Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported revenues of ILS 1,054 million compared to ILS 1,103 million a year ago. Operating profit was ILS 56 million compared to ILS 99 million a year ago. Adjusted EBITDA was ILS 227 million compared to ILS 274 million a year ago, primarily from the continued erosion in service revenues, partially offset by the decline in operating expenses. Profit before income tax was ILS 38 million compared to ILS 75 million a year ago. Profit for the first quarter of 2015 totaled ILS 25 million compared with ILS 24 million in the previous quarter, despite the decrease in Adjusted EBITDA, reflecting the lower finance costs, net, in the reported quarter. Cash capital expenditures in fixed assets (CAPEX payments) in the first quarter of 2015 totaled ILS 127 million compared to ILS 89 million in the previous quarter, the increase mainly reflecting payments to suppliers for fixed assets received during the second half of 2014. Free cash flow (before interest payments) in the first quarter of 2015 totaled ILS 21 million, compared with ILS 71 million in the fourth quarter of 2014. The decrease in free cash flow mainly reflected the increase in CAPEX payments together with the reduction in Adjusted EBITDA, which were partially offset by a smaller increase in working capital. Basic and diluted earnings per share was ILS 0.16 compared to ILS 0.33 a year ago. Net cash provided by operating activities was ILS 149 million compared to ILS 259 million a year ago. Acquisition of property and equipment was ILS 87 million compared to ILS 83 million a year ago. Net debt was ILS 2,581 million compared to ILS 2,849 million a year ago. Cash capital expenditure in the first quarter totaled ILS 127 million compared to ILS 89 million in the previous quarter. The increase mainly reflects payment to suppliers for fixed assets received during the second half of 2014. For the second quarter of 2015, CAPEX payments are expected to include the payment for the 4G frequencies awarded in January 2015. On an accrual basis, investments in fixed assets in the first quarter of 2015 totaled ILS 50 million, compared to ILS 145 million in the previous quarter. The company expects free cash flow in the second quarter of 2015 to be significantly lower than the free cash flow in the first quarter of the year for several reasons; among others, a one-time payment for the 4G frequencies in the amount of ILS 34 million; and the continued negative impact of the growth in working capital resulting mainly from the long-term installment plans to promote sales of equipment.

Partner Communications Company Ltd. Announces Management Changes, Effective July 1, 2015

Partner Communications Company Ltd. announced that the company’s Board of Directors approved the recommendation of Mr. Haim Romano, the appointment of Mr. Isaac Benbenisti as the new Chief Executive Officer of the company, effective July 1, 2015. This follows the Board approval of Mr. Romano's request to leave his office. Mr. Benbenisti joined Partner’s management team as Deputy CEO in November 2014. In his previous positions, Mr. Benbenisti served for seven years as CEO of Bezeq International, as a director and manager of the PC and distribution channels division at Hewlett -Packard, and as the CEO of CMS Compucenter Ltd.

Partner Communications Company Ltd. Appoints Yehuda Saban as a Member of Board of Directors

Partner Communications Company Ltd. announced that Board of Directors approved on April 29, 2015 the appointment of Mr. Yehuda Saban as a member to the Company's Board of Directors. Mr. Yehuda Saban was nominated by the court appointed receiver with respect to most of Scailex Corporation Ltd.'s shares in the Company. Mr. Saban served as Vice President Economics & Regulation and FLNG (Floating Liquefied Natural Gas) manager at Delek Drilling & Avner oil exploration. Mr. Saban holds a B.A. in Economics & Business Management 'Gradual with Honors' and an M.B. A specializing in Financing, both from the Hebrew University in Jerusalem.

Partner Communications Company Ltd. to Report Q1, 2015 Results on May 20, 2015

Partner Communications Company Ltd. announced that they will report Q1, 2015 results at 12:13 PM, GMT Standard Time on May 20, 2015

Partner Communications Company Ltd., Q1 2015 Earnings Call, May 20, 2015

Partner Communications Company Ltd., Q1 2015 Earnings Call, May 20, 2015

 

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