Partner Reports Quarterly Net Income Increases 24% QoQ
Israel's Partner Communications (which trades with the Orange brandname) has reported total revenues in Q1 2008 of NIS 1.6 billion (US$447 million), EBITDA of NIS 533 million (US$150 million), and net income of NIS243 million (US$ 68 million).
Commenting on the quarter's results, Partner’s CEO, Mr. David Avner, said: "We are pleased with the results of the first quarter of 2008, in which Partner again delivered a strong performance and improved its EBITDA and net income margins. This achievement should be appreciated in light of the intense competition, regulatory changes and our continued investment in our high-standard customer service.
In the first quarter, we have again succeeded in realizing our strategy to focus on the post-paid segment, resulting in the recruitment of 40 thousand high-quality post-paid subscribers, 60% of whom are business customers. The number of our 3G subscribers has continued to grow, reaching above 750 thousand at quarter end, or 36% of our post-paid subscriber base. Our content business serves as an important growth driver, reaching revenues of approximately NIS 200 million. Partner will continue to invest in introducing new content and media applications and enrich its content offering in order to maintain our leadership in this strategic area."
He also confirmed that the company is actively working on establishing a non-cellular platform, which should be introduced at the beginning of next year
Mr. Avner concluded: "I am certain that Partner's core strengths and leadership will enable us to broaden our product and service portfolio and to provide a comprehensive and rich solution to our customers' communication needs."
Posted to the site on 5th May 2008