Bezeq Group Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016
March 30, 2017 at 06:55 am EDT
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Bezeq Group announced consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported revenue of ILS 2,504 million compared from ILS 2,606 million for the same period last year. The decrease was due to lower revenues in all of the Bezeq Group segments and primarily at Pelephone. Operating profit was ILS 532 million compared from ILS 488 million for the same period last year. Net profit was ILS 185 million or ILS 0.07 per dilute share compared from ILS 369 million or ILS 0.13 per diluted share for the same period last year. EBITDA of ILS 940 million compared from ILS 947 million for the same period last year. Cash flow from operating activities of ILS 832 million compared from ILS 889 million for the same period last year. Capex of ILS 335 million compared from ILS 329 million for the same period last year. Free cash flow of ILS 513 million compared from ILS 592 million for the same period last year.
For the full year, the company reported revenue of ILS 10,084 million compared from ILS 9,985 million for the same period last year. The increase was due to the consolidation of Yes beginning in the second quarter of 2015, which was partially offset by a decrease in revenues in all of the Bezeq Group segments and primarily at Pelephone. Operating profit was ILS 2,321 million compared from ILS 2,570 million for the same period last year. Net profit was ILS 1,244 million or ILS 0.45 per diluted share compared from ILS 1,721 million or ILS 0.62 per diluted share for the same period last year. EBITDA of ILS 4,060 million compared from ILS 4,254 million for the same period last year. Cash flow from operating activities of ILS 3,526 million compared from ILS 3,740 million for the same period last year. The decrease was primarily due to changes in working capital partially offset by the consolidation of yes beginning in the second quarter of 2015. Payments for investments (Capex) of ILS 1.42 billion compared from ILS 1.64 billion for the same period last year. The decrease was due to a reduction in investments in all the company’s segments and specifically at Pelephone, mainly due to payments made in 2015 for LTE 4G frequencies. Free cash flow of ILS 2.25 billion compared from ILS 2.26 billion for the same period last year. Net debt as on December 31, 2016 was ILS 9.72 billion compared from ILS 9.40 billion as on December 31, 2015.
Bezeq Israeli Telecommunication Corp Ltd is an Israel-based telecommunication provider. The Company implements a provides telecommunications operations and services, including domestic fixed-line, cellular and international communication services, multi-channel satellite television broadcasts, Internet infrastructure and access services, customer call centers, maintenance and development of communications infrastructures, communications services to other communications providers, television and radio broadcasts, and supply and maintenance of equipment on customer premises. Bezeq Israeli Telecommunication Corp Ltd operates three subsidiaries, Pelephone Communications Ltd, Bezeq International Ltd and Walla! Communications Ltd, as well as one affiliated company namely DBS Satellite Services.
BEZEQ THE ISRAEL TELECOMMUNICATION CORP. LTD 
