NETANYA, Israel, August 14, 2012 /PRNewswire/ --
During the first half of 2012 the Company successfully completed further strategic steps in adjustment to the market conditions:
- Successful merger of Cellcom Israel with Netvision - forming unified headquarters with substantial cost savings. The Company's subsidiary, Netvision, is retaining its profitability level, and presenting an EBITDA  of NIS 140 million for the first half of 2012, despite the increased competition in the ISP market
- Efficiency measures - operational efficiency measures which will lead to savings at an annual run rate of NIS 300 million
- Winning the Israeli Defense Force (IDF) tender for cellular services
- Transition from a cellular company to a communications group - offering integrated communications packages such as "Cellcom Total"
For the second half of 2012:
- The Company intends to cope with the changing market conditions by taking further significant operational efficiency measures
- Strengthening Cellcom Israel's position as a communications group while laying the foundation for future opportunities and entry into new areas of activity such as the landline wholesale market, cellular credit card and the examination of entry into IPTV
- The Company will add approx. 60,000 new IDF subscribers and will approach additional related potential subscribers
Second Quarter 2012 Highlights  (compared with the second quarter 2011):
- Free cash flow  totaled NIS 284 million ( $73 million), a 63.2% increase
- Total Revenues totaled NIS 1,498 million ( $382 million), a 5.7% decrease
- Total Revenues from services totaled NIS 1,182 million ( $301 million), a 4.5% increase
- EBITDA totaled NIS 474 million ( $121 million), a 16.3% decrease
- EBITDA margin 31.6%, down from 35.6%
- Operating profit totaled NIS 282 million ( $72 million), a 29.0% decrease
- Net income totaled NIS 121 million ( $31 million), a 50.4% decrease
- Cellular Subscriber base totaled approx. 3.333 million at the end of June 2012
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