Full-service Israeli telco Partner Communications has announced its results for the year ended 31 December 2012, showing that annual total revenues decreased by 20% to ILS5.572 billion (USD1.493 billion), while service revenues dropped by 11% to ILS4.640 billion. EBITDA fell by 26% to ILS1.602 billion, and net profit shrank by 8% to ILS478 million. Cellular ARPU decreased by 13% from 2011 to an average of ILS97 in 2012, while total cellular subscribers declined from 3.176 million at end-2011 to 2.976 million a year later. Fixed lines stood at 288,000 at 31 December 2012, down from 292,000 twelve months earlier, while ISP subscribers fell from 632,000 to 587,000 in the year.
Commenting on the results, Haim Romano, Partner’s CEO, said: ‘In 2012, the level of competition in the Israeli telecommunications market greatly intensified and as a result, the significant price erosion in the market impacted the company’s business results as reflected in our financial statements. These trends have continued into the first months of 2013. Nevertheless we have maintained robust free cash flow, whilst continuing to invest in and develop the cellular market’s most technologically advanced infrastructure. We have also taken significant efficiency measures which mitigated the impact of these trends on the erosion of the company’s profitability.’