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Cellcom Israel Announces Third Quarter 2011 Results

Stocks in this article: CEL

NETANYA, Israel, November 15, 2011 /PRNewswire/ --


In this quarter we consolidated Netvision's results for September only

Cellcom Israel declares a third quarter dividend of NIS 1.90 per share (totals approx. NIS 189 million)



Third Quarter 2011 Highlights including Netvision's Results for September Only [1]   (compared to the third quarter 2010):

  • Total Revenues totaled NIS 1,665 million ( $449 million) compared to NIS 1,729 million ( $466 million)
  • Total Revenues from services totaled NIS 1,193 million ( $321 million) compared to NIS 1,509 million ( $407 million) as a result of the regulatory changes and the increased competition
  • Revenues from content and value added services (including SMS) increased 2.4%, reaching 26.6% of services revenues [2]
  • EBITDA [3] totaled NIS 534 million ( $144 million) compared to NIS 716 million ( $193 million)
  • EBITDA margin 32.1% compared to 41.4%
  • Operating income totaled NIS 349 million ( $94 million) compared to NIS 534 million ( $144 million)
  • Net income totaled NIS 199 million ( $54 million) compared to NIS 332 million ( $89 million)
  • Free cash flow [ 3] totaled NIS 262 [4] million ( $71 million) compared to NIS 513 million ( $138 million)
  • Cellular Subscriber base totaled approx. 3.391 million at the end of September 2011
  • 3G cellular subscribers reached approx. 1.282 million at the end of September 2011, representing 37.8% of total cellular subscriber base
  • The Company declared third quarter dividend of NIS 1.90 per share

1. On June 15, 2011, the Company and Netvision Ltd. ("Netvision") entered into a merger agreement. Netvision is a leading company in the Israeli communications market, which provides international long distance services, internet services (ISP), telephony services and other communication services. The transaction was completed on August 31, 2011. The consolidated financial results for the third quarter 2011 therefore include the results of Netvision only for the month of September 2011.

2. Excluding Netvision's services revenues.

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