Q2 2024 Bezeq Israeli Telecommunication Corp Ltd Earnings Call Transcript
Key Points
- Bezeq The Israeli Telecommunication Corp Ltd (BZQIF) reported a 64% year-over-year increase in fiber take-up, indicating strong growth in this strategic area.
- The company saw a 28% increase in 5G subscriber plans, reflecting successful expansion in mobile services.
- Retail broadband ARPU increased by 6%, demonstrating improved revenue per user in the broadband segment.
- The board recommended a dividend distribution of ILS407 million, a 4% increase compared to the corresponding quarter, aligning with the company's 70% payout policy.
- Free cash flow grew by 11% in the first half of the year, showcasing strong cash generation capabilities.
- Core revenues declined by 0.9% due to lower infrastructure project revenues and decreased roaming revenues impacted by the conflict.
- Profitability was negatively affected by the MOC telephony reform and timing of infrastructure projects.
- The company experienced a decrease in net debt by ILS400 million, or 7% year-over-year, indicating financial pressure.
- The Fixed-Line segment saw a 1.8% decrease in core revenues due to lower infrastructure project revenues.
- The TV market faced increased competition, impacting revenues and profitability, particularly in the yes segment.
Welcome, everyone, and thank you for joining us on Bezeq's 2024 second quarter earnings call. I'm Tobi Fischbein, CFO of the Bezeq Group. Joining us from the senior management team today, we have Mr. Tomer Raved, Bezeq�s Chairman; Mr. Nir David, Bezeq's Fixed-Line CEO; and Mr. Ilan Sigal, CEO of Pelephone and yes.
Before we start the call, I would like to direct your attention to the Safe Harbor statement on slide 2 of our Q2 2024 investor presentation, which also applies to any statement made during today's call. We would like to inform you that this event is being recorded. After presenting our quarterly results, we will have a Q&A session.
With that said, let me now turn the call over to Tomer, for his opening remarks. After his introduction, I will continue the presentation of our group�s financial highlights, followed by Nir, who will discuss Bezeq Fixed Line results, and Ilan who will cover the results from Pelephone and yes. I will conclude the
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
