The mobile carrier’s fourth quarter revenue fell to NIS

1.13 billion.

Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) today published its financial report for 2013. Fourth quarter revenue totaled NIS 1.13 billion, 10% less than for the corresponding quarter of 2012. Net profit fell 55% to NIS 46 million for the fourth quarter from NIS 102 million for the corresponding quarter.

Services revenue totaled NIS 922 million for the fourth quarter, 11% less than for the corresponding quarter, and equipment revenue fell 8% to NIS 205 million ($59 million).

“In the coming year we intend to deploy approximately one thousand base stations equipped with advanced fourth generation technology. We look forward to receiving the allocation of the frequencies needed to provide the general public with the advanced services available with this technology,” said Partner CEO Haim Romano.

“At the beginning of November 2013, the company signed a network sharing agreement with Hot Mobile Ltd.. This agreement has many benefits for the general public, including: the ability to maximize existing spectrum for the launch of 4G network services, reducing the environmental impact from multiple base stations, and increasing competition in the telecommunications market in a manner that will benefit consumers.”

Romano added, “The company’s strength is also reflected in its ability to reduce the company’s operating expenses by approximately NIS 0.5 billion compared with the previous year, and in generating free cash flow (before interest payments) of approximately NIS 1 billion, which enabled the company to continue carrying out the investments required for its continued success while reducing net debt by approximately NIS 0.8 billion.”

Published by Globes [online], Israel business news – www.globes-online.com – on March 10, 2014