“With the goal of focusing fully on Bezeq and our communications business, we have recently sold three of our Goldmind.Media assets and intend to divest our remaining media holdings during the next several months. Taken as a whole, we are very pleased with the development of our business, and continue to seek out additional ways to create value for our shareholders.”
Bezeq Group’s Q4 Financial Results
To provide further insight into its results, the Company has provided the following summary of the Bezeq Group’s quarter and year ended December 31, 2010 consolidated financial reports. For a full discussion of Bezeq’s results for the quarter, please refer to http://ir.bezeq.co.il.
Bezeq Group’s Consolidated Results
|Bezeq Group (Consolidated) 1||Q4 2010 2||Q4 2009||Change||2010 2||2009||Change|
|( NIS millions)||( NIS millions)|
|Net profit attributable to Company Shareholders||575||366||57.1%||2,443||3,603||-32.2%|
|Diluted EPS (NIS)||0.21||0.12||75.0%||0.90||1.34||-32.9%|
|Cash flow from operating activities||748||785||-4.7%||3,696||3,655||1.1%|
|Capex payments, net 3||439||352||24.6%||1,491||1,445||3.2%|
|Free cash flow 4||309||433||-28.6%||2,205||2,210||-0.2%|
|Net debt/EBITDA (end of period) 5||1.04||0.76||1.04||0.76|
|Net debt/shareholders' equity (end of period)||1.00||0.52||1.00||0.52|
|1As of August 21, 2009, the Company ceased consolidating yes' financial statements and started accounting for its investment in yes according to the equity method. In this table all figures reflect the de-consolidation of yes as of December 31, 2007.|
|2Bezeq Group results reflect the consolidation of Walla! as of April 25, 2010.|
|3 Capex data reflects payments related to capex and are based on the cash flow statements.|
|4Free cash flow is defined as cash flows from operating activities less net capex payments.|
|5EBITDA in this calculation refers to the trailing twelve months.|
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