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Internet Gold Reports Fourth Quarter 2011 Financial Results

Internet Gold’s Unconsolidated Financial Results

    Q4 2011
(NIS millions)     (US$ millions)
Revenues - -
Financial expenses (10 ) (3 )
Other expenses (7 ) (2 )
Interest in BCOM's net loss (81 ) (21 )
Net loss (98 ) (26 )
 

Comments of Management

Commenting on the results, Mr. Doron Turgeman, the CEO of Internet Gold, said, “2011 was another year of good performance marked by accelerated loan repayments and improved financial strength and liquidity. During December 2011 and January 2012, we took advantage of favorable market conditions to further strengthen our balance sheet, raising NIS 79 million in debt from institutional investors at a low interest rate for IGLD and BCOM raised an additional NIS 126 million in debt. As we move into 2012, we remain pleased with our investment in Bezeq and we are continuing to seek out ways to further increase value for our shareholders.”

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