Partner Communications Reports Strong Q2 2025 Results: Profit Up 26%, Cash Flow Nearly Doubled

Partner Communications Group published its financial results for the second quarter of 2025, reporting strong growth across all major profitability indicators. The company saw a 26% increase in net profit, reaching NIS 72 million, while operating profit rose by 14% to NIS 103 million. EBITDA climbed 7% to NIS 303 million, and free cash flow surged 94% to NIS 134 million.

A major milestone in the quarter was the completion of the Private 5G network upgrade for all customers, which significantly improved service quality and contributed to the addition of 16,000 net mobile subscribers—the highest recruitment figure in the past three years.

“We continue to show significant improvement in cash flow, thanks to growth in profitability, operational excellence, and the completion of major investment projects,” said Avi Gabbay, CEO of Partner Group.
“Our attention now turns to two major projects that will bear fruit next year: the new television service and the Hashakal cellular tender.”

Key Financial Highlights – Q2 2025 vs. Q2 2024

• Net profit: NIS 72 million (↑ 26%)

• Operating profit: NIS 103 million (↑ 14%)

• Adjusted EBITDA: NIS 303 million (↑ 7%)

• Free cash flow: NIS 134 million (↑ 94%)

• Net financial debt: NIS 287 million (down from NIS 502 million)

CFO Miri Takutiel noted that improved performance was driven by increased revenues from fixed-line services and mobile packages, as well as continued operational efficiency.

“Adjusted EBITDA rose by 7%, and free cash flow reached NIS 238 million in the first half of 2025,” Takutiel said.

Revenue Breakdown

• Total revenues (excluding netting): NIS 770 million (↑ 2%)

• Service revenues: NIS 643 million (↑ 5%)

• Equipment sales: NIS 127 million (↓ 9%)

Operational Highlights

• Mobile subscribers: 2.648 million, including 692,000 5G subscribers

• Net subscriber additions: 16,000 (↑ highest in 3 years)

• ARPU (mobile): NIS 43 (↑ NIS 1)

• Churn rate: 4.5% (↓ from 4.7%)

• Fiber optic subscribers: 452,000 (↑ 6,000)

• Internet subscribers (fiber + copper): 482,000 (↑ 2,000)

• ARPU (internet): NIS 93 (↑ NIS 2)

Partner remains the only provider in Israel capable of offering fiber to every household with existing infrastructure (a total potential of 2.8 million households), due to its independent network and strategic agreements with other infrastructure providers.

Credit Rating Affirmed

In May 2025, Standard & Poor’s Maalot reaffirmed Partner's ilAA- credit rating with a stable outlook, further signaling confidence in the company’s financial strength and long-term strategy.