Partner recorded an annual investment of NIS 621 million in fixed assets and intangible assets

Partner's profits in the fourth quarter of 2019 contracted to NIS 7 million, similar to the profit in the previous quarter. However, this is a 63% dive compared to the corresponding quarter in 2018, given the decline in prices and increased competition in the industry. Partner recorded a minimal profit of NIS 19 million in 2019. The company warns of a material impact on its condition due to the Corona crisis.
Partner's encouraging data from 2019 is a decline in customer abandonment in the mobile sector, along with a significant increase in subscriber recruitment and revenue in the wired sector - on television and the Internet. Revenues from the landline sector first crossed NIS 1 billion in Partner and are now almost one-third of the company's operations.
In the mobile sector, Partner slowed its customer abandonment rate to 7.2% in the quarter, registering an increase of 11,000 in the number of subscribers. In total, Partner abandoned 31% of its subscription during 2019 - a lower abandonment rate than competitors. The low abandonment rate allows it to save on customer acquisition costs. However, monthly revenue from a customer (ARPU) continued to fall to NIS 55 in the last quarter - a decrease of NIS 2 compared to the previous quarter.
In the revenue line, Partner posted a 1% decline compared to 2018 with NIS 3.23 billion. Partner explains that the decline in service revenues was mainly due to the continued decline in prices of cellular services and the decline in sales of cellular devices.
Partner showed an EBIDTA increase of NIS 853 million in 2019. Excluding effects from the adoption of the IFRS, this is a decrease of 3% compared to 2018.
In 2019, Partner recorded an increase of 66,000 TV customers, and by the end of the year the number of TV customers reached 188,000. By the time the reports were published, Partner had added 11,000 customers. Partner reported that its fiber-optic network infrastructure already reaches 600,000 households. The Fiber Network households are operating and available for use.
 Partner recorded an annual investment of NIS 621 million in fixed assets and intangible assets (CAPEX). This figure reflects a 25% increase over 2018, but the increase is mainly attributable to accounting changes.
Partner arrives in Corona crisis with financial stability and net debt lower than NIS 1 billion at the end of 2019. At the beginning of January 2020, the company completed a capital raising of NIS 276 million intended for future investments.