Bezeq Group Reports Significant Profit Growth in Third Quarter
Translated & summarized from Calcalist by baba
Bezeq Group reported a 44% increase in net profit to NIS 372 million for the third quarter, with core revenues up 2.3% to NIS 2.04 billion. Its fiber network now covers 3.1 million homes. Mobile unit Pelephone and TV provider yes also showed significant profit and revenue growth, with yes moving from a loss to a profit.
The story in 5 lines · by baba
- Bezeq Group's Q3 net profit rose 44% to NIS 372 million on 2.3% higher revenues.
- Bezeq's fiber optic network has been deployed to 3.1 million households.
- Pelephone saw a 19% net profit increase and acquired Wecom.
- Satellite provider yes achieved record revenues and moved to a NIS 36 million profit.
- yes's turnaround was driven by bundled packages, a Partner deal, and content sales.
Bezeq Group announced its third-quarter financial results, revealing a notable increase in core revenues, which reached NIS 2.04 billion, a 2.3% rise compared to the same period last year. The company's operating profit (EBITDA) saw an 8% increase, totaling NIS 1.01 billion, while net profit surged by 44% to NIS 372 million. Bezeq's fiber optic network deployment has now reached 3.1 million households.
Within its fixed-line operations, Bezeq Lines generated core revenues of approximately NIS 1.01 billion, a 1.4% increase year-over-year. Net profit for this segment grew by about 32% to NIS 283 million, and EBITDA increased by 5.6% to NIS 677 million. Revenues from transmission and data communications rose by 5.8% to NIS 328 million, and infrastructure project revenues climbed 6.2%.
Mobile subsidiary Pelephone experienced a 1.5% increase in revenues, a 5.4% rise in EBITDA, and a 19% jump in net profit. This growth was accompanied by network upgrades and accelerated deployment, with the number of 5G subscribers on monthly payment plans reaching approximately 1.5 million. Pelephone also signed an agreement to acquire Wecom as part of its growth strategy.
Satellite television provider yes achieved record revenues and EBITDA, with growth rates of 15% and 51%, respectively. The company transitioned from a net loss of NIS 1 million in the prior year's quarter to a net profit of NIS 36 million. This turnaround was primarily driven by an increase in bundled TV and fiber internet packages, a deal with Partner, and the sale of content abroad.
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