Partner ends second quarter in profit

Isaac Benbenisti
Isaac Benbenisti

Partner Communications posted a NIS 3 million profit for the second quarter, and cash flow was positive.

For the second quarter of 2019, Israeli telecommunications company Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) posted a NIS 3 million profit, which compares with NIS 2 million for the previous quarter and a similar profit in the corresponding quarter of 2018. Quarterly revenue totaled NIS 781 million, which compares with NIS 794 million in the previous quarter and NIS 797 million in the corresponding quarter.

Adjusted EBITDA, totaled NIS 214 million, which compares with NIS 197 million in the previous quarter. The company explains the rise by improved revenue from services. Equipment sales, however, fell substantially, from NIS 170 million in the previous quarter to NIS 139 million in the current quarter.

Partner's free cash flow totaled NIS 31 million in the quarter, which compares with negative cash flow in each of the preceding two quarters, and NIS 55 million positive cash flow in the corresponding quarter of 2018.

Partner CEO Isaac Benbenisti said, "While our competitors in the telecommunications market are facing instability and impairments, Partner presents business leadership and financial strength."

Published by Globes, Israel business news - en.globes.co.il - on August 27, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Isaac Benbenisti
Isaac Benbenisti
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