January 22, 2017 12:18 PM ET

Diversified Telecommunication Services

Company Overview of Bezeq International Ltd.

Company Overview

Bezeq International Ltd. provides Internet and international telecommunications services to businesses and homes in Israel and internationally. The company offers communications solutions in Internet, telephony (international, domestic, and intra-organizational), IT and cloud computing, hosting and co-location, data communications, DR, and information security solutions. It also markets and maintains call centers, IP communication, and telephone networks; offers carrier wholesale services that include global data solutions, data center, JONAH cable system, telephony services, and voice solutions; and provides ICT services, including IT systems, computerized infrastructures, MDM, information ...

40 Hashacham Street

Ramat-Siv

PO Box 7097

Petach Tikva,  4951731

Israel

Founded in 1996

Phone:

972 3 920 3170

Fax:

972 3 925 7674

Key Executives for Bezeq International Ltd.

Chief Executive Officer
Age: 57
Compensation as of Fiscal Year 2016.

Bezeq International Ltd. Key Developments

Bezeq International Ltd. Reports Unaudited Earnings Results for the Second Quarter Ended June 30, 2016

Bezeq International Ltd. reported unaudited earnings results for the second quarter ended June 30, 2016. Revenues in the second quarter of 2016 were ILS 377 million, compared to ILS 391 million in the same quarter of 2015, a decrease of 3.6%. The decrease in Revenue was primarily due to a reduction in hubbing revenues. After excluding hubbing revenues, total revenues increased 1% compared to the same quarter of 2015 due to the continued growth in Internet services delivered across the submarine cable infrastructure, which was partially offset by the continued erosion in the international long distance call market. Implementation of the collective labor agreement signed at the beginning of the 2016 impacted all profitability metrics. Operating profit in the second quarter of 2016 was ILS 47 million compared to ILS 62 million in the same quarter of 2015, a decrease of 24.2%. EBITDA in the second quarter of 2016 was ILS 82 million (EBITDA margin of 21.8%), compared to ILS 94 million (EBITDA margin of 24.0%) in the same quarter of 2015, a decrease of 12.8%. Net profit in the second quarter of 2016 was ILS 33 million compared to ILS 45 million in the same quarter of 2015, a decrease of 26.7%. Cash flow from operating activities in the second quarter of 2016 was ILS 69 million, compared to ILS 74 million in the same quarter of 2015, a decrease of 6.8% due to the implementation of the collective labor agreement. Free cash flow in the second quarter of 2016 was ILS 36 million compared to ILS 48 million in the same quarter of 2015, a decrease of 25.0%. Payments for investments were ILS 33 million against ILS 26 million for the same period a year ago.

Bezeq International Faces a Class Action Certification Motion

On June 30, 2016, the Bezeq - The Israel Telecommunication Corp. Ltd. was notified by its subsidiary, Bezeq International Ltd. of a claim together with a class action certification motion which had been filed against it with the Jerusalem District Court. The claim involves allegations that Bezeq International is misleading its customers by selling them 100 MB Internet packages while the speed it actually provides its customers is lower by tens of percents. The petitioner estimates the class action amount at ILS 187 million.

Bezeq International Ltd. Faces a Class Action Certification Motion in the Central District Court

On December 29, 2015, Bezeq - The Israel Telecommunication Corp. Ltd. received a notice from its subsidiary, Bezeq International Ltd. regarding a claim together with a class action certification motion filed against it with the Central District Court. The claim was filed on grounds that Bezeq International charged customers who subscribed to an international calling plan a 'premium rate' which was higher than the rate that was set and agreed upon in the plan. According to the petitioners, Bezeq International excluded overseas landline destinations from the plan and defined them as "premium destinations" without any basis and while misleading customers. The petitioners did not explicitly state the claim amount against Bezeq International.

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