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Last $4.58 USD
Change Today +0.04 / 0.88%
Volume 10.9K
PTNR On Other Exchanges
Symbol
Exchange
NASDAQ GS
Munich
Tel Aviv
As of 5:20 PM 09/3/15 All times are local (Market data is delayed by at least 15 minutes).

partner communications-adr (PTNR) Key Developments

Partner Communications Company Ltd. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter of 2015

Partner Communications Company Ltd. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the six months, the company's revenues, net were ILS 2.1 billion compared with ILS 2.2 billion a year ago. Operating profit was ILS 123 million compared with ILS 217 million a year ago. Profit before income tax was ILS 59 million compared with ILS 144 million a year ago. Profit for the period was ILS 34 million or ILS 0.22 per basic and diluted share compared with ILS 98 million or ILS 0.63 per basic and diluted share a year ago. Adjusted EBITDA was ILS 463 million compared with ILS 565 million a year ago. Net cash provided by operating activities was ILS 284 million compared with ILS 548 million a year ago. Acquisition of property and equipment was ILS 137 million compared with ILS 138 million a year ago. Acquisition of intangible assets was ILS 102 million compared with ILS 75 million a year ago. For the quarter, the company's revenues, net were ILS 1.0 billion compared with ILS 1.1 billion a year ago. Operating profit was ILS 67 million compared with ILS 118 million a year ago. Profit before income tax was ILS 21 million compared with ILS 69 million a year ago. Profit for the period was ILS 9 million or ILS 0.06 per basic and diluted share compared with ILS 46 million or ILS 0.30 per basic and diluted share a year ago. The decrease was primarily a result of the lower Adjusted EBITDA, partially offset by lower finance costs, net and lower tax expenses. Adjusted EBITDA was ILS 236 million compared with ILS 291 million a year ago, mainly reflecting the improvement in equipment profitability. Net cash provided by operating activities was ILS 135 million compared with ILS 289 million a year ago. This was mainly explained by changes in operating working capital, as well as the decrease in Adjusted EBITDA. Acquisition of property and equipment was ILS 50 million compared with ILS 55 million a year ago. Acquisition of intangible assets was ILS 61 million compared with ILS 44 million a year ago. As on June 30, 2015, the company’s net debt was ILS 2,626 million. Cash capital expenditures in fixed assets in the quarter totaled ILS 110 million compared to ILS 127 million in the previous quarter, a decrease of 13% despite the one-time payment to the Ministry of Communications during the second quarter for the 4G frequencies in the amount of ILS 34 million. The decline in CAPEX was mainly due to a lower level in the second quarter of payments to suppliers for fixed assets received during the second half of 2014 and the first half of 2015. The company expects that the company may record a loss in the third quarter of 2015 due principally to the one-time expense of the employee retirement plan as well as the negative effect of the continued intense competition in the telecommunications market in Israel partially compensated by the revenues from the new framework agreement with Orange.

Partner Communications Company Ltd. Announces Frequency Bandwidth of 5MHz in the 1,800MHz Spectrum

Partner Communications Company Ltd. announced that it was allocated a frequency bandwidth of 5MHz in the 1,800MHz spectrum, which the company was awarded, as part of the 4G frequencies tender conducted by the Ministry of Communications in January 2015. This frequency allocation, in addition to the 10 MHz that are in the company's use, together with the receipt of 5 MHz band that Hot Mobile Ltd., a party to the joint venture ("JV") of the two companies, will allow partner to realize a 20 MHz band for its 4G services and offer its customers a significantly improved data experience through a national deployment of its 1,400 4G sites that are already active. In addition, the Ministry of Communications granted a special license for the provision of Mobile Radio Telephone Services to the JV pursuant to a network sharing agreement signed in November 2013 between Partner and HOT Mobile.

Partner Communications Company Achieves Understandings with the Employees' Representatives and the Histadrut Regarding A Retirement Plan

Partner Communications Company reported that it has reached understandings with its employees' representatives and the Histadrut regarding a retirement plan. The company, the employees' representatives and the Histadrut New General Labor Organization, have reached understandings regarding a retirement plan that includes, among others, an increased retirement payment and range of benefits. In a release on July 17, the Company noted that this plan is a continuation of the necessary efficiency measures that the Company has initiated over the last few years. As part of the plan, the Company's management has undertaken, among others, not to present any additional demands for employee reduction plans until the resolution of the collective employment agreement, which the parties intend to complete by December 2015. As a result, the company is expected to record a onetime expense of approximately ILS 35 million in the third quarter of 2015. The final cost of the retirement plan will be determined in accordance with the number of employees who will actually retire as well as the composition of these employees.

Partner Communications Company Ltd. to Report Q2, 2015 Results on Aug 12, 2015

Partner Communications Company Ltd. announced that they will report Q2, 2015 results at 12:13 PM, GMT Standard Time on Aug 12, 2015

Partner Communications Company Ltd., Q2 2015 Earnings Call, Aug 12, 2015

Partner Communications Company Ltd., Q2 2015 Earnings Call, Aug 12, 2015

 

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