Cellcom recorded revenues of NIS 1.069 billion in the second Q and a net profit of 39 million

The cellular company Cellcom, which operates a cell phone network, Internet and telephone services, and controls Golan Telecom, published its financial reports for the second quarter according to which the company recorded revenues of NIS 1.069 billion compared to NIS 1.003 billion in the corresponding quarter last year - an increase of 6.5%.
The company's net profit in the second quarter amounts to about NIS 39 million compared to a loss of NIS 14 million in the second quarter last year. The company's operating profit in the current quarter amounted to approximately NIS 95 million compared to a profit totaling approximately NIS 33 million in the corresponding quarter last year, an increase of approximately 188%.
Cellcom reports an increase of 12,000 fiber customers, an increase of 5,000 internet infrastructure subscribers and an increase of 40,000 new cellular subscribers from the previous quarter. In the area of ​​television, the company maintains stability with an increase of only 1,000 subscribers from the previous quarter.
The adjusted EBITDA of the company for the period of the report amounted to a total of NIS 303 million, compared to NIS 297 million in the corresponding quarter last year - an increase of 2%. Cellcom ended the quarter with a free cash flow that amounted to approximately NIS 64 million compared to NIS 62 million in the corresponding quarter of 2021, an increase of 3.2%.
Since the beginning of the year, Cellcom's share has risen by 13.8% to a price of NIS 19.9, representing a value of NIS 3.27 billion. The company's profit in the first quarter of this year amounted to NIS 28 million on revenues of NIS 1.055 billion. In 2021 as a whole, the company earned NIS 27 million on revenues of NIS 4.1 billion. The value expresses a profit multiplier of 68.
Daniel Sapir, CEO of Cellcom: "Cellcom continues to grow even in the second quarter of 2022, while significantly improving performance and continuing to decrease leverage ratios, which is also evident in the update of the company's rating forecast from stable to positive. This quarter, as in the previous one, we continue to invest in infrastructure and increase the company's growth engines and provide our customers with the best, most reliable and advanced service, as evidenced by the significant increases in the number of subscribers and the drop in abandonment rates."