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PTNR Partner Communications

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 First Quarter 2021 Results Conference Call. All participants are 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 ahead. Please go

Gideon Koch

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

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

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

can be web accessed broadcast call For simultaneously through is this over website. being your our and the information,

have Investor you now any turn over the to further call Benbenisti. XXX-XXXX. Adar, call, Head free hand following and of please Projects, Relations (XX) questions Amir Partner's feel Isaac our CEO, will the XXX If Corporate I to to contact our on

Isaac Benbenisti

customer and conference in ended the significant Thank X.X%, quarter growth the the skies our of and in of you, to the last the welcome levels base, a our XG part the and at million period the XXXX organic lowest churn call. rate the of our lockdown with growth to quarter returned on In The ILS supported continued prior the Partner investment quarter. everyone, with COVID-XX the the of decade. which end company's focus loyalty earnings to continued in the subscriber cellular day, Good all for first operational segment, the areas. of a Gideon. X.X rate despite revenues subscriber full closed totaled of the

dwelling units. buildings are already in We rollout of raised Fiber have buildings by more than and independent to reaches XXX,XXX The the municipalities infrastructure. and rapid have already the Partner big characterized low XXX,XXX across as single begun which recently -- infrastructure of and Partner's country fiber optic today, continuing connected deploy reached raised in of with households to infrastructure the

such very connected unique company Video subscribed to Prime XXX,XXX Video the led as and in penetration rate proud are employees. in unveiled As with content of process a today. an Amazon fiber approximately cooperation potential subscribers honored expansion has have a with the parallel Prime proposition I'm of Partner XX% today, optic from with Partner's of end first XXX,XXX localizing quarter, value of services buildings. magnificent infrastructure, the and wonderful Israel. a we At households of the in representing to Internet TV the over customers

succeeded have for new the engines we review Tamir, years, in economy world. and the strengthening significant Amar period entire all company's and X in last please? to over Tamir the results. will our a a and financial of for I challenging financial the growth both robustness, turn like to call in the developing Over now

Tamir Amar

of quarter decrease Thank we we call in the activity, growth you, of Isaac. returned XXXX. government-mandated XX segment, the continued period to more able revenues level flourish In lockdown the despite time, services. growth revenue the to in year, the during improving of maintaining fixed-line revenues equipment corresponding excluding also period the the ILS same segment complete were The from from At the quarter first that absence quarter, roaming the in first the than offset million same gross compared while increase sales. sales such international received the equipment despite near to XXXX, to continuing its loss we also last cellular OpEx, while due profit third refund revenue the of to

alongside segments growth rollout We of we us in the network the expand cellular the optic also the provide subscriber cellular in years. engines XG the will the continue fiber network to that coming our substantial of with believe and and to expansion fixed-line continue base

million highest level Our over cellular quarter years. end, subscriber for six base the at totaled X.X

Education quarter, totaled X,XXX in Over decline the quarter year. subscribers increase result as the The which program. packages provided that compared which in Even the The Internet totaled can mainly of decrease ILS XX,XXX excludes by comparison, rate ILS corresponding by package to base of with illustrates churn In the this end of XX the the students their increased as the decline selected growth the for in at communications infrastructure. that an fixed-line infrastructure Fiber base the apples-to-apples fiber XX,XXX quarter in a sharp increase an XX to revenues combination ARPU the focus quarter, these the a which XX,XXX of at Partner's subscriber roaming by on was increased the roaming packages to to of quarter, XXX,XXX a year. XX-month quarter in quarter. cellular of last part to XX,XXX COVID-XX company's base buildings our quarter, the connected due corresponding of strong Optic reflects subscribers along in market. reflecting within the optic position in growth in from to international the homes revenues the the COVID-XX. to number our quarter, the of and amounted totaled subscriber the lead increase XXX,XXX XX,XXX discerned. The services trend positive in infrastructure-based a service rate The segment, the of previous last be revenue, quarter record these X.X% were an compared of factors services, buildings subscriber and Partner cellular services in Israeli X.X% end to with subscribers us conclude change travel of revenue were of growing the a Ministry in fiber quarter. fiber postpaid excluding data the XX,XXX, rate fixed voice from optic demand subscribers, connecting Partner's in

broadcast our second XXXX. services, technical quarter, a of television grew by X,XXX the the of number was Regarding in malfunction increase the subscribers January rate which approximately television by of during impacted week in the

X% the rate, of with only the since Despite a quarter year. year payments and year. year. to its receipt quarter of quarter ongoing since decrease XXXX COVID-XX beginning by implications, for governmental the we first corresponding recap, XX net of in was million compared from with Bezeq a of mandated impacted X,XXX the last of rate previous corresponding positively subscribers in growth to To adjusted its the the EBITDA a ILS refund However, returned last approximately the previous finished of increase then

refund, than quarter. impact continued along of in of growth the roaming compensated maintain revenues this budgetary and activity, and for the part increased rest to this of the cost-cutting near-complete EBITDA in adjusted more through cessation X%, reflecting and with travel lockdown of intend by cellular Excluding which fixed-line the We discipline the international the budgetary the on year. measures services discipline

XXXX cessation expects a travel of first in quarter to impact the quarter although be second continue services air negative of the compared the will seen, XXXX. the ahead, Looking in recovery can complete almost of slight of roaming that the company

However, interest XXX cash two Adjusted its totaled payments it for quarter CapEx the differ expected quarters. scope in is before million. million. payments free from ILS totaled lease to materially XX not flow including ILS the preceding

which our in As ILS ILS was for engines. major the our quarter The serve at shown that continues stood XXXX. Q&A. open XX end million demonstrates the of of quarter be million. for XXX the expect will debt annual the the XXX at infrastructure fiber with year, now at growth the the was during last company ratio Net at company's report to call corresponding Moderator, of happy investments of the to The decrease optic complete to adjusted strength. of million end the of begin half the financial please year XXXX, a quarter, questions. be compared ILS company's I will phase end net our X.X the debt the approximately EBITDA rollout

Operator

make would statements. concluding Benbenisti, like Mr. you to your

Isaac Benbenisti

Thank you. Yes.

unique saying statement very was years. me, with I you company future. thank to a you, to bright for of for Thank all a anticipate short Thank on very for It a believing time you and us. X us. a Just you being wonderful for the

everybody. So thank much, very you

Operator

you. the Thank Partner call. XXXX you conference for first quarter results Thank Communications participation. This concludes your

disconnect. for may ahead go You