Cellcom, Israel’s second largest mobile network operator in terms of subscribers, has released its preliminary results for the last three months of 2012. Noting that the results ‘reflect the previously reported trends, including the heightened competition and material price erosion’, the cellco expects consolidated revenues of between ILS1.37 billion and ILS1.39 billion (USD355 million and USD360 million), compared to the ILS1.67 billion it reported in the same period of 2011. EBITDA, meanwhile, will be between ILS360 million and ILS375 million, with net income said to be between ILS100 million to ILS115 million.
Looking ahead, Cellcom has noted that the aforementioned trends are likely to continue in this quarter, and as such says it expects them to ‘further adversely affect the company’s results of operations in 1Q 2013 compared to 4Q 2012’. In an effort to boost its financial results and mitigate the impact of such trends, the operator has said it will continue to implement efficiency measures.
Cellcom will publish its full financial results for both 4Q12 and FY12 at the beginning of March 2013.