Cellular Operator Cellcom Reports Major Subscriber Growth and Profit Increase in Israel
Translated & summarized from Maariv by baba
The story in 6 lines · by baba
- Cellcom gained 70,000 cellular and 22,000 fiber subscribers in the last year.
- Fixed-line service revenues reached approximately 335 million shekels.
- Equipment sales revenues rose 17%, with gross profit up 40%.
- Quarterly revenues totaled 1.065 billion shekels; operating profit rose 26% to 148 million.
- Cellcom reduced gross financial debt by about one billion shekels in two years.
- Net financing expenses dropped by roughly 50%, and dividends of 400 million shekels were paid.
Cellcom has achieved significant growth in Israel's cellular market over the past year, adding approximately 70,000 cellular subscribers and 22,000 fiber-optic subscribers, according to the company's recent report. Concurrently, revenues from fixed-line services reached about 335 million shekels. Another growth driver was the sale of terminal equipment, with revenues increasing by 17% to 339 million shekels and gross profit from equipment sales rising 40% to 63 million shekels.
Overall, Cellcom's total revenues for the quarter amounted to 1.065 billion shekels, while operating profit increased by 26% to 148 million shekels. CEO Eli Addadi highlighted the company's financial discipline, noting that over the past two years, Cellcom has reduced its gross financial debt by approximately one billion shekels and distributed dividends totaling around 400 million shekels. Net financing expenses have also decreased by about 50% during this period.
These results reflect Cellcom's strong market performance and ongoing efforts to improve its financial health amid a competitive telecommunications environment in Israel.
Read the original at Maariv
