PTNR - Earnings call transcript Q3 2020 | Partner Communications Co LTD

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Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Partner Communications Third Quarter 2020 Results Conference Call. All participants are at present in a listen-only mode [Operator Instructions].

Following management’s formal presentation, instructions will be given for the question-and-answer session.

As a reminder, this conference is being recorded. to call like to now would turn over the Mr. I Koch. Gideon Mr. go Koch, please ahead.

Gideon Koch

thank our Tamir to Communications’ to us business you Benbenisti, results provide will operational on on you will Partner’s our Thank developments and who over for is today then Q&A. all CFO. of With the conference third Isaac Isaac to update overview the will call results CEO on call listeners of our our discuss quarter on and move a an of results. Partner provide He and third the quarter. hand Partner’s XXXX. discussion me we more Tamir, Amar, this will an joining to And detailed for finally, and Benbenisti financial

amended, begin, XXA this maybe conference fact the Litigation Reform Safe to attention draw Before would XXXX. of the the the call Section Securities Harbor of like Private U.S. in Section the Act your meaning U.S. that statements we XXE provisions to and I of all Exchange within as U.S. Act Act forward-looking XXXX amended statements of the XXXX Securities of as of Securities of

that statements, statements. projected Partner’s forward-looking be from results you such materially should in might vary Regarding actual forward-looking aware those the

readily Harbor of that to statements information or available. shelf the relating other Partner’s subject cause and F-X as registration forward-looking note F-X this and Additional Partner’s well XX-F, the in press in contained results Exchange the information previous to November those to all the call XXXX Commission statements, factors which forward-looking as Safe that as call. of statements are as actual well are the projections in of Forms release date statement concerning with could as differ the this is X-K U.S. on materially from XX, filings conference dated Securities Please

And our now of our be any if call, and feel Corporate will For contact simultaneously and broadcast Partner’s Isaac turn Isaac? over internet following Relations the on Adar, to the through your information, call Amir accessed over Benbenisti. the Head further this questions Investor call website. can please you to CEO, Projects, I XXX-XX-XXX-XXXX. is being free have

Isaac Benbenisti

Good effects loyalty. establishes day, calls. year, segment, net to continued that in the the Partner’s added our results coronavirus a services. mix you, long-term to and due the XX,XXX growth the earnings segment in exhibit resilience to Gideon. conference cellular added subscribers to and revenue strengthen In Since fixed we Despite customer everyone stability net welcome the which contributes quarter of Thank for beginning Partner’s line strength. third quarter the XXX,XXX and the of consistent cellular the to third subscribers the have financial we crisis,

to significant goals a a the In optic and turn – will is addition, quality Tamir, been ultra-fast coverage provides increased financial for XG for fast launched call results. now met as like the service which that a group, grant In subscribers the Partner’s our shekels services, which The Israel. in of offering over today service over cities approximately XX,XXX over stable has since reaches TV increase beginning the there and the year. the expected in approximately strengthening network Most Tamir tens entitle received we be communication our of to of the crisis of has Communications. of of coronavirus variety Ministry it offers millions that standing from to of subscribers most expected comprehensive of advanced us in network, telco a that services services appreciation already on review for fiber months, subscribe the communication Partner’s independent fiber of XX internet subscribers emphasize combination XXX,XXX households the service addition services. in please. recent to country. Partner Partner’s Amar demand thus to of the within among XXX,XXX internet TV of across has packages an I that as

Tamir Amar

Isaac. and call. you, our Good welcome to conference earnings day, Thank everyone

quarter of in did variety capitalizing for As some on a the decline of expected, including proactive negative international results the towards travel operation our the in effects alternative increase continued shifting substantially channels. seasonal into measures significant a on the in in result also the adjustments through mitigating of normal in of trend. in the resulted of the company’s through number with areas compared making for cost-cutting business The quarter third and company’s the the material as impact crisis and focus sales a a demand area, company company’s succeed services

the negative. remained materially net impact However, overall

other which of Our the XXXX base from ARPU the revenues services, service the this NISXX this increased coronavirus offset larger an to profit previous the subscribers quarter a revenues totaled increase The and Adjusted in million quarter, quarter. NISXXX of second a in decrease the with rates factors the including were in quarter. in quarter reflecting crisis. roaming increase the quarter impact totaled by of sales, and EBITDA X.X% together decrease of by equipment an quarterly quarter. compared unchanged million postpaid reduction partially cellular of the with subscriber during previous the XX,XXX gross net in churn third in in negative due largely compared in NISX the with further expenses XX,XXX increase reflected X.X% previous with support NISXXX quarter compared increase subscribers, the to to among

quarter. of for the international negative impact Looking will scale a complete of have third ahead, to XXXX in of the those than in smaller the the that fourth continue travel near cessation quarter company expects

of overall Partner’s company In NISXXX will million be be fourth of quarter balance through Adjusted to million a impact compared with in ago, material. not free measures effort sheet network and also debt investments addition, NISXXX in the a quarter, its successful cost of crisis. challenging These as cutting NISXXX quarter expected coronavirus areas million financial third Net continued market. TV equity with totaled end the before stood the the NISXX continuing of decrease million, reflecting strong million the take deployment net to third is at optic continue the the to NISXXX NISXXX the result possible further CapEx number proactive XXXX. a this year continue company’s the due interest at period January company’s are such and of raise quarter. mainly of flow that and the net investments fiber in stability of cash penetrate the to a expand million in the to totaled to

expenses approximately completed third Notes of NISX amount the of being company partial recorded which repayment company’s financial to the of total in the the During a early led million, its quarter, Series one-time under million costs F net. NISXXX

G In reflects addition, of the in frequencies million. frequencies a we amount duration Notes in its lengthened of tender XG debt. a for company’s of measures the These lowest of third the Series NISXXX quarter, the Communications’ Also in Ministry at price third which anticipated, contenders. quarter total the the company all participated the cost and expanded the in secured

as with addition, a in competed together communications conditions the groups that qualifying group company, the of highest In the with share XG, compliance among in to company’s the is another all the partner tender. grant expected view in PHI the for

frequency provided accordance benefit a certain met are the company from is discount fees, significant respect expected the the with to that addition, terms conditions tender. with In of to in

please the and existing partner a services Finally, future call for number the Moderator, to to potential the will the happy considering following now solicit enquiries a fiber XX% that questions. rights open to the from be possibility optic company from households. received company’s Q&A. announced offers I acquire investors, to private to the use or potential of up network it to is for of partners begin

Operator

Barclays. first Thank ahead. from you. Chris go of Reimer [Operator Instructions] is The Please question

Chris Reimer

my about its taking the Hi, view press especially thank the not get the Xphone making in recent market to payments? of your cellular like commentary on you in environment I’d questions. competitive and light for

Isaac Benbenisti

Okay.

to increase through this this to and it customers a little Also, little the ARPU about but partner the understand to is the is position now the to weakness succeed ARPU besides be to in roaming We ARPU is bit. We competition stabilize indeed period. its the pay value-added the in it market a focused are including bit less increase we leaving competitive, We all debt. less So, strategy this also cellular within we challenging period. of of even hear because this services and market the that and are also this services succeeding decline in not to retain to in to and and on that about Xphone compete a Cellcom they becoming to of huge changed. Xphone the faced

Chris Reimer

undertaking And much fiber, longer of concerned the your just are just that, And Okay. about competitors if Bezeq with then XX% following you your with then at deployment are advancing the you may have, own and looking could along process IBC how us the whole on with country extensive with you overbuild? their that considering remind go you which deployment, also deployment?

Isaac Benbenisti

Okay.

they on. X fibers X not through of about to that not pass. IBC said. it So already years activated already Bezeq Bezeq of according they their let’s have ago need is published the deployed years to XXX,XXX households the fibers – between all, and XX%, what X then again years Cellcom They is they with already to – but switch since to the deployed. not and them, first It reports their about according all will already X have what take qualify reached what say, home it. XX% it’s did XX% deployment to to the

home home also Our pass XXX deployment already pass. XXX,XXX – is

We company and to most we – moment, the deployed are – are the the according fastest this in in Israel. the

the other there course, to which the is in motivation the have between will they that company deploy compete the that it. fibers are does not that, holding infrastructure companies only and according fibers, with different any some Partner Of data

economic and is deploying HOT our according according is to So, deployed interest that ago compete have us that for and other our infrastructure reach Bezeq is they to are now. the already years IBC right with calculation any what to or building

So, are that is these they their is between XX% connected the the to that we household different Israel internet motivation so reached deployment above already. pace in of and of The different. doing continuing days and far we companies

Chris Reimer

very That’s helpful. you. Okay, thank

Operator

are at time. Instructions] no this [Operator further There questions

hours Benbenisti statement, of a Mr. ask begin in this X I scheduled closing participants remind to is I to ahead U.S., call with to go would Before like the to in X-XXX-XXX-XXXX, that at in would replay Israel, also you www.partner.co.io. concluding Benbenisti, and please on the call Mr. your please please is like call recording available internationally, XXX-XXXX-XXXX. statements? The XX-XXX-XXXX make company’s call website his

Isaac Benbenisti

our adjusting call. the business and joining represent summarize, of think and just it’s And a for coronavirus have roaming effect company, the ability you stability to on I quarter we our the because thank significant of significant. to the effects, expenses due the Yes, coronavirus the services this to

you XXX,XXX of I outstanding beginning the can the by what see subscribers fixed of performance line think from the segment the company of the is and growing in this results cellular the the in as that adding year.

results company, So, by think of in I and ourselves ability adjust excellence the represent the the the operation. to stability overall

So, thank again you for joining call. the

quarter. you. you Looking next Thank forward seeing

Operator

Thank third concludes for Communications XXXX quarter Partner conference you. Thank your participation. result call. This the you

may ahead disconnect. go You and

Partner Communications (PTNRF) 25 Nov 202020 Q3 Earnings call transcript