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Cellcom Israel Q3 Profits Up on Tax Gains
Cellcom Israel has reported that its 3rd-quarter profits rose by 19.% to NIS
289 million (US$77 million), from NIS 242 million a year ago. The net profit was
boosted by a
Yaacov Heen, Chief Financial Officer, commented: "Our record revenues, operating income and EBITDA were primarily achieved due to a 32.4% increase in revenues from content and value added services as well as growing landline revenues. These two revenue growth drivers totally offset the decline in roaming revenues this quarter, primarily attributed to the macro-economic environment."
The higher service revenues resulted mainly from a 32.4% increase in content and value added services (including SMS) revenues in the third quarter 2009, compared to the third quarter last year. Revenues from content and value added services reached NIS 229 million ($61 million), or 15.3% of service revenues.
At the end of September 2009 the Company had approximately 3.26 million subscribers. During the third quarter of 2009 the Company added approximately 31,000 net new subscribers, mostly post-paid.
In the third quarter of 2009, the Company added approximately 64,000 net new 3G subscribers to its 3G subscriber base, reaching approximately 941,000 3G subscribers at the end of September 2009. The Company's 3G subscribers represented 28.9% of the Company's total subscriber base at the end of the third quarter 2009, an increase from the 21.5% 3G subscribers represented of total subscribers at the end of September 2008.
The Churn Rate in the third quarter 2009 totaled to 4.9%, compared to 4.4% in the third quarter last year. The quarterly churn remains primarily impacted by the churn of lower contribution pre-paid subscribers and subscribers with collection problems.
Posted to the site on 16th November 2009
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