Partner Communications Company Ltd. (“Partner” or "the Company") (NASDAQ: PTNR) (TASE: PTNR), a leading Israeli communications operator, announced today its results for the quarter ending September 30, 2012.
Q3 2012 Highlights (compared with Q3 2011)
- Total Revenues: NIS 1,315 million (US$ 336 million), a decrease of 25%
- Service Revenues: NIS 1,150 million (US$ 294 million), a decrease of 16%
- OPEX: NIS 942 million (US$ 241 million) compared with NIS 1,252 million, improved by 25%
- OPEX excluding equipment 4 : NIS 793 million (US $203 million)compared with NIS 952 million, improved by 17%
- Net Debt: NIS 4.1 billion (US$ 1.0 billion), a decrease of NIS 0.6 billion
- Cellular Subscriber Base: 3.04 million at quarter-end
1 Annual rate based on comparison of third quarter 2012 to the third quarter 2011.
2 Free Cash flows from operating activities before interest payments, net of cash flows used for investing activities.3 For definition of EBITDA measure, see “Use of Non-GAAP Financial Measures” below. Commenting on the third quarter results, Mr. Haim Romano, Partner's CEO, said: “The financial results of the third quarter reflect the financial and operational robustness of Partner. The Company reported a strong free cash flow for the third quarter after investments, which totaled NIS 375 million, an increase of 20% compared to the previous quarter. At the same time, we continue to significantly reduce our financial debt and, in the past year, the Company has reduced and repaid debt in the amount of NIS 700 million. Moreover, the operational efficiency measures implemented by the Company over the past year are yielding good results and, among other things, have led to a decrease in the operating expenses by approximately NIS 600 million in annual terms, while improving organizational processes and raising the level of customer service.