the cellular company Cellcom reported the highest profit in the last 20 quarters: NIS 28 million

Cellcom reported the results of the first quarter of 2022, in which it continues the positive trend and shows the highest profit in the last 20 quarters - NIS 28 million, this is the first report under the new CEO Daniel Sapir.
Available foreign cash amounted to NIS 52 million, with a growth of 31,000 mobile subscribers in the first quarter compared to the previous quarter, a growth of 6,000 Internet infrastructure subscribers in the first quarter compared to the previous quarter, and a growth of 2,000 TV subscribers in the first quarter compared to the previous quarter.
Revenue: The company ended the first quarter of 2022 with a total revenue turnover of NIS 1.055 billion, compared to NIS 1.033 billion in the corresponding quarter in 2021, which reflects an increase of 2.1%. Revenues from cellular services in the current quarter amounted to NIS 475 million, an increase of about 3.9% compared to the corresponding quarter in 2021. The increase is mainly due to revenues from roaming services abroad following an increase in outbound tourism, compared with the corresponding quarter abroad.
Stationary segment revenue: Revenue from fixed line services amounted to NIS 323 million, an increase of 6.6% compared to the corresponding quarter in 2021. The increase is mainly due to an increase in Internet service revenues and operating revenues from the sale of mines to international operators. It should be noted that close to half of Cellcom's customers in the Internet services enjoy the fiber services.
Revenue from end equipment: Revenue from end equipment amounted to NIS 297 million in the first quarter of 2022, a decrease of 4.8% compared to the corresponding quarter in 2021, mainly due to a decrease in end sales in the mobile sector. However, in the profit line of the sale of end equipment, the company recorded a profit of NIS 53 million, reflecting an increase of 9.9% compared to the corresponding quarter in 2021.
Daniel Sapir, CEO of Cellcom concluded: “Cellcom opens the year 2022 with excellent quarterly results in all key parameters, both financial and operational. The results indicate the continuation of the growth trend and the strengthening of the company. We continue the activity of deploying 5th generation sites, investing in fiber infrastructure, among other things through IBC, promoting our customer service and other growth engines that will help us continue to increase the company's profitability. "

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