Partner grows in mobile and television: net profit jumped by approximately 16.7% in the second quarter

Partner reports an increase in revenues and profits: in the second quarter, the company's revenues (excluding interconnection fees) rose by 2.6% to 790 million shekels. The company's operating profit jumped by 17.5% to 121 million shekels, the adjusted EBITDA profit rose by 3.6% to 314 million shekels, and the net profit rose by 16.7% to 84 million shekels.

Revenues from services (excluding interconnection fees) rose by 1% to 650 million shekels, and revenues from equipment sales by 10.2% to 104 million shekels. Broken down by business segment, revenues from mobile (excluding interconnection fees) rose by 2.1% to 346 million shekels, and the adjusted EBITDA profit in mobile rose by 3.4% to 183 million shekels.

The number of mobile subscribers rose by 2.9% to 2.65 million, while the number of 5G subscribers jumped by 46.2% to 1.01 million. The churn rate stood at 4.6% (compared to 4.5% in the corresponding quarter), and the average revenue per user (excluding interconnection fees) remained unchanged – 43 shekels per month.

Revenues from fixed-line services fell by 0.6% to 322 million shekels, but the adjusted EBITDA profit rose by 4% to 131 million shekels. The number of internet subscribers rose by 3.7% to half a million, almost all of them on fiber optics (480 thousand, an increase of 6.2%). However, the number of subscribers on Partner's fiber network fell by 1% to 285 thousand, while the number of subscribers on third-party infrastructure rose by 18.9% to 195 thousand. The average revenue per internet subscriber rose by 3.2% to 96 shekels per month. The number of television subscribers grew by 6.5% to 212 thousand.

"We are satisfied with the continued improvement in results and the recruitment of subscribers across all activities, which are a direct result of excellent service and investment in quality infrastructure and products that create real value for customers," said Partner CEO Avi Gabay in a press release. — "Our ongoing investment in artificial intelligence contributes to strengthening service systems and increasing employee productivity."