Golan Telecom improves profitability

Gil Sharon Photo: Tamar Matsafi

Operating profit in the second quarter was 39% up on the second quarter of 2018.

Golan Telecom had revenue of NIS 131.3 million in the second quarter of 2019, which compares with NIS 130 million in the corresponding quarter of 2018. For the first half year, revenue totaled NIS 261 million, similar to the figure for the corresponding period of 2018.

The company said that the good result was achieved despite the increased competition arising from the launch of We4G by rival Xfone 018 Ltd. in April 2018.

Operating profit in the second quarter was NIS 29 million, 39% more than in the corresponding quarter. EBITDA was NIS 42 million, up from NIS 38 million in the corresponding quarter. In the first half year, operating profit rose 34% in comparison with the first half of 2018, to NIS 52 million, while EBITDA rose to NIS 80 million from NIS 73 million in the first half of 2018.

At the end of the second quarter this year, Golan Telecom had 906 thousand subscribers, 5,000 more than at the end of the previous quarter. ARPU (average monthly revenue per user) was NIS 48, which is similar to the figure for the first half of 2018.

Golan Telecom chairman and CEO Gil Sharon said, "Golan has presented improvement in revenue and profit despite fiercer competition."

Golan Telecom is a unit of Electra Consumer Products (1970) Ltd. 

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

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

Gil Sharon Photo: Tamar Matsafi
Gil Sharon Photo: Tamar Matsafi
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