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Partner Communications (PTNR)

Participants
Gideon Koch IR
Isaac Benbenisti CEO
Tamir Amar CFO
Call transcript
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Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Partner Communications Fourth Quarter and Full Year 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. begin. Koch, please

Gideon Koch

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

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

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

all Partner's as cause statements, shelf and as F-X and to Additional this Partner's Annual of well earlier XX-F, for press this in contained Safe conference also the results well Form Harbor of as Exchange information March call. those with forward-looking XXXX to XXXX which Commission factors as F-X Report forward-looking that filed as statements that are or statements SEC call subject that would actual the Partner's other in Forms fact date the statements release concerning I with could in the differ the the X-K available. are the US projections to information registration on materially from XX, filings to relating of dated draw is previous note on XX-F your Please the today. attention readily its Securities

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

Isaac Benbenisti

Partner of and everyone conference stability into in year day, maintain our welcome was able summary net In and of call. Good you. operational revenue present and Thank the earnings to complexity, to COVID-XX profit.

year the joined of services company XXXX, television. During hundreds and in of subscribers cellular, Internet thousands the

independent million, of launch year, rollout alongside past the a the made by in service Internet XG; in future cellular growth expanded X.XX year the continued our big in Partner thousands Internet further are leap than with fiber In reaches subscribers already decade. to Fiber a already services which connected TV, net Partner the of bundle The fiber in in Partner XXX,XXX with optic the total XG offer. base the cellular, base optic the XXX,XXX Partner television with services of end. infrastructure independent over the to growing lowest base already in cellular, group's XXX,XXX Internet XXXX, infrastructure Netflix XXX,XXX total for Partner of sphere in infrastructures. growing the In loyalty, subscribers over churn again, joining year of new activity subscriber increase buildings Partner the fiber we customer to net during Fiber, the XXXX of rates grew a XX,XXX subscribers all Israel and optic today, approximately joining unique over and with of the to XXXX, over its company's services TV Fiber; the tens of subscriber a Partner During engines the infrastructure the subscribers infrastructure in of of the in with TV deepening which cooperation to infrastructure TV, was, as XX% fastest Internet XXX,XXX with more in Partner resulting households at from has in in the optic also with fastest reside subscribed network, company's our Israel growth increase the independent Partner's year.

a in made TV to Tamir communication an is Amar thanks significant both in in now growth turn of please. us in company's most all results. which reduction subscribers, to independent to profitability. Partner years I over have investment them As the XXXX, and recent long for the XXX,XXX your of that would in to Partner included the financial infrastructures increase than has Internet areas year of of call the also like more outset excellent our Tamir, At enable of enjoyed position review customers debt activity, we for term today, services. stands by the of preparations

Tamir Amar

you, the our subscriber on momentum Thank growth engines the infrastructure. impact accelerating fiber during of cellular steps welcome while the in COVID-XX our the of Isaac. optic during growth rollout and taken call. fourth XXXX earning In in results. as whole, The conference continued, quarter the positive year fixed line our and and a day, lessened our Good alongside to the segments we've everyone the continued

XG frequencies Partner's of will growing to services the the Our and success offered base. sites gradually the this our the by more rollout XG with year network, and set in us deployment subscriber range to Communications more the and to advanced in of of compliance advance the connect Ministry enable customers expand milestones standard the XG and

certain another in position from to subject a significant operator conditions. managed frequency our the in tender first place for to for deployment to in benefiting with support of the together addition, itself sites financial In additional on continued in thus, company XG eligibility grant deployment bidding a addition discount fees, XG, for

the who in last crisis quarter by the subscriber XXX,XXX. Our students increased part of program. included subscribers, this net, including year, as in month reached fourth fourth as COVID-XX. due service the sharp decline segment, data quarter Ministry the year, In year. today. travel year quarter of reflecting to XX modems increase to already The end provided optic XX,XXX subscribers roaming the international phone XXX,XXX to XX,XXX that our fourth in to Education by X.X%, the in cellular of compared base the year XX,XXX our joined fixed a for to the the COVID-XX increase package infrastructure the amounted at XXXX, similar of mainly rate impact in totaled ARPU to was last ILSXX in last quarter quarter in negative in as revenue of ILSXX decline year of optic infrastructure quarter. of line more corresponding of result connected XXX,XXX connected the to households an fourth than The number in XXX,XXX the within fiber churn fiber and their The building

the of XXXX XX% XXX,XXX has home home an the as fourth XXXX. the in buildings through end of As optic XX,XXX of of compared Partner an connected approximately year reflects penetration within of subscribers the connected XX,XXX through fiber XXXX, end end rates from quarter. and increase fiber approximately number households XX% subscribers, with the optic The

number year to in the XXXX, XX,XXX. by this grew television, subscribers increase X,XXX of bringing last total quarter Regarding the

approximately XXXX gross the of As number date, the broadcast TV XXX,XXX. of is of beginning of during impact the in reflect The rate of from technical of the subscribers to the XXXX. second mainly malfunction week television the temporary January

of of decrease continued COVID-XX. international of the a cutting of complete small we which offset impacts fourth measures cessation of partially XXXX quarter in expected, almost X% line corresponding finished the EBITDA only adjusted with we along due As in the the gross compared fixed travel light with to the to quarter in activity, cost

the Looking ahead, that almost expects as negative and the of a will first the part travel XXXX, air result in closure the of complete of quarter for cessation impact continue company stores of quarter. the of

the expected XXXX flow adjusted scope CapEx not The the free quarter. million. totaled its However, ILSXXX materially impact overall from preceding to in cash million. differ ILSXX totaled for is

successful was of and made challenging possible and be complete fiber XXXX sales rollout company expand the cash the to major which sheet, expect the to free of with financial during of even totaled a penetration infrastructure they quarter, optical to The the investments company's Moderator, begin the capital during at minus crises. XXXX, decrease at the million of of continued be efforts the deployment continue result adjusted adjusted million the The was the million. period the ILSXXX in the approximately debt ILSXXX For EBITDA in the for to year as totaling ratio for debt million, Partner the and ILSX we ILSXXX demonstrates flow fourth XXXX financial last reflects will the These strong investments call continued continue the CapEx I ILSXXX January of of million of negative company's Net which to market. balance and television XXXX a stability now with the the year amount end mainly reflecting company's open the strength. at questions. of COVID-XX Q&A. at end net. million end the compared year, please stood X.X in happy XXXX, net raising ILSXXX year

Isaac Benbenisti

Yes.

earnings joining thank call. our for conference So you

I'd very and like are the in We call. in compared it seeing next good faced We Passover you at we to results, XXXX, you very conference all to we impressive our to thank to that us you results. XXXX. wish a forward complexities position looking big and of you. a And Thank Happy pleased think achieved our and put

Operator

Conference you for Communications Partner Results concludes you. Thank This Quarter the Thank Year your Call. and Full XXXX participation. Fourth

go ahead may You and disconnect.