b communications ltd (BCOM) Key Developments
B Communications Ltd. Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2013
May 13 13
B Communications Ltd. reported consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenues of ILS 2,405 million compared to ILS 2,740 million a year ago. Operating income was ILS 494 million compared to ILS 391 million a year ago. Income before income tax was ILS 390 million compared to ILS 323 million a year ago. Net income attributable to owners of the company was ILS 45 million or ILS 1.50 per diluted share compared to ILS 16 million or 0.54 per diluted share a year ago. EBITDA was 1,089 million against ILS 1,208 million for the same period a year ago. Cash flow from operating activities was ILS 972 million against ILS 998 million for the same period a year ago. Purchase of property, plant and equipment was ILS 245 million against ILS 385 million for the same period a year ago. Net financial debt was ILS 7.30 billion at March 31, 2013 compared with ILS 6.65 billion as at March 31, 2012. The reduction in the Group Revenue was primarily due to a decrease in revenues from the cellular segment, specifically due to a reduction in revenues from handset sales (decrease of ILS 160 million) together with a decrease in revenues from cellular services (decrease of ILS 120 million). The decline in profitability metrics was primarily due to a decrease in profitability in the cellular segment as a result of increased competition in the sector.
B Communications Ltd to Report Q1, 2013 Results on May 13, 2013
May 6 13
B Communications Ltd announced that they will report Q1, 2013 results on May 13, 2013
B Communications Ltd and Bezeq The Israel Telecommunications Corp Ltd. Provide Updates on Lawsuit
Apr 22 13
On April 8, 2013, B Communications Ltd. received a statement of claim filed by one of the shareholders of Bezeq The Israel Telecommunications Corp. Ltd. against B Communications and against Bezeq. The Claim was filed with the Tel Aviv District Court. The relief sought in the claim is for the court to declare that B Communications Ltd. has a personal interest in the distribution of the dividend up for approval of the next General Meeting of Bezeq, and that Bezeq should publish information and documents and summon economic experts whose opinions were published by Bezeq in its notice of convening the meeting, in preparation for the General Meeting. From an initial review of the statement of Claim, B Communications and Bezeq believe that they acted and continue to act lawfully, including leading up to the upcoming General Meeting, and they shall present their positions in the competent courts. On April 21, 2013, the Tel Aviv District Court dismissed an urgent motion to shorten the procedure for clarifying the Claim filed by the plaintiff. Accordingly, the claim will be adjudicated in accordance with the dates prescribed by law, and there has been no change in the dates determined for the dividend distribution from Bezeq.
B Communications Ltd Proposes Cash Dividend and Special Dividend Payable on May 13, 2013
Mar 25 13
On March 13, 2013, B Communications Ltd. board of directors resolved to make a recommendation to the general meeting of the company's shareholders to distribute a cash dividend in the total amount of ILS 861 million to the shareholders. At the date of the report, this dividend has not yet been approved by the general meeting. The determining date for the distribution is May 1, 2013 and the payment date is May 13, 2013. Together with this distribution (insofar as it is approved), the fifth installment of the Special Distribution in the amount of ILS 500 million will be distributed, and the distribution dates for the fifth installment (the determining date, the ex-dividend date and the payment date) will be the same as the dates for distribution of the current dividend.
B Communications Ltd Reports Preliminary Unaudited Parent Financial Results for the Fourth Quarter and Full Year and Consolidated Earnings Results for the Year Ended December 31, 2012
Mar 14 13
B Communications Ltd. reported preliminary unaudited parent financial results for the fourth quarter and full year and consolidated earnings results for the year ended December 31, 2012. For the year, the group reported operating income of ILS 1,487 million, income before income tax of ILS 773 million and loss attributable to owners of the company of ILS 219 million or ILS 7.38 per diluted share on revenues of ILS 11,373 million compared to operating income of ILS 1,513 million, income before income tax of ILS 892 million and loss attributable to owners of the company of ILS 35 million or ILS 1.18 per diluted share on revenues of ILS 10,278 million reported a year ago. EBITDA was ILS 4,637 million compared to ILS 4,471 million reported a year ago. Cash flow from operating activities was ILS 3,186 million compared to ILS 4,014 million reported a year ago. Purchase of property, plant and equipment was ILS 1,548 million compared to ILS 1,271 million reported a year ago. Investment in intangible assets and deferred expenses was ILS 355 million compared to ILS 269 million reported a year ago.
For the quarter, the parent company's revenues were ILS 2,449 million, an 8% decrease compared to ILS 2,650 million reported in the fourth quarter of 2011. The company's net profit attributable to shareholders totaled ILS 70 million compared to a net loss of ILS 121 million reported in the fourth quarter of 2011.
For the full year 2012, the parent company's revenues totaled ILS 10,278 million, a 10% decrease compared to ILS 11,373 million reported in 2011. The company's net loss attributable to shareholders totaled ILS 35 million compared to a net loss of ILS 219 million reported in 2011.