The revised forecast is due to the NIS 805 million sale of
Yad2.
Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) today revised upwards its full-year net profit guidance for 2014 to NIS 2 billion, following the sale of classified ads portal Yad2.
Bezeq estimates that its free cash flow will be NIS 2.5 billion in 2014, and that its earnings before interest, taxes, depreciation and amortization (EBITDA) will be NIS 4.5 billion.
The sale of Yad2 was closed today, after all the necessary permits were obtained. Bezeq will report a pretax profit of NIS 560 million on the NIS 805 million sale.
Published by Globes [online], Israel business news - www.globes-online.com - on May 20, 2014