Partner profit plummets as subscribers leave

Partner, controlled by Ilan Ben Dov, estimated that its fourth-quarter revenue fell to NIS 1.59 billion from NIS 1.76b.

By GLOBES CORRESPONDENT
February 22, 2012 22:47
1 minute read.
Heimishe cell phone

cell phone 521. (photo credit: Courtesy)

Orange franchisee Partner Communications Ltd. on Wednesday published estimated results for the fourth quarter and full year of 2011 that showed sharply lower revenue and profits as subscribers abandoned the mobile carrier. The company will publish its final results in late March.

Partner, controlled by Ilan Ben Dov, estimated that its fourth-quarter revenue fell to NIS 1.59 billion from NIS 1.76b. for the corresponding quarter of 2010, and its net profit fell to NIS 132 million from NIS 304m.

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It estimated that revenue rose to NIS 7b. in 2011 from NIS 6.67b. in 2010, but net profit fell to NIS 763m. from NIS 1.24b.

Partner said mobile revenue fell 40 percent to NIS 1b. for the fourth quarter from NIS 1.4 billion for the corresponding quarter, and it fell more than 25% to NIS 4.25b. in 2011 from NIS 5.58b. in 2010.

Partner estimated that its subscriber churn rate rose to 8.2% during the fourth quarter from 6% during the corresponding quarter, and the full-year churn rate rose to 29% from 21% in 2010. Average revenue per user (ARPU) fell to NIS 106 per month in the fourth quarter from NIS 147 per month in the corresponding quarter, and full-year ARPU fell to NIS 111 per month in 2011 from NIS 148 per month in 2010.


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