December 26, 2014 12:29 PM ET

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Company Overview of DBS Satellite Services (1998) Ltd.

Company Overview

D.B.S. Satellite Services (1998) Ltd. provides multichannel television services in Israel. It offers a range of high quality content on 160 different channels, including 20 HD channels; and various local content, as well as VOD services, pay-per-view channels, radio channels, music channels, and interactive services. The company also provides sports, entertainment and series, movies, business and news, science and nature channels, youth and music, Russian language, and an Arabic language channels. D.B.S. Satellite Services (1998) Ltd. was founded in 1998 and is based in Kfar Sava, Israel. D.B.S. Satellite Services (1998) Ltd. is a subsidiary of Eurocom Communications Ltd.

6 HaYozma Street

Kfar Sava,  

Israel

Founded in 1998

Key Executives for DBS Satellite Services (1998) Ltd.

Chief Executive Officer
Age: 49
Chief Financial Officer
Chief Operating Officer and Vice President of Customer Division
Age: 49
Chief Technology Officer and Vice President of Engineering
Vice President of Regulation & Legal Affairs
Compensation as of Fiscal Year 2014.

DBS Satellite Services (1998) Ltd. Key Developments

Israel Telecommunication Corp. Ltd Announces Class Action Update against D.B.S. Satellite Services (1998) Ltd. and Telecommunication Systems Ltd

Further to The Israel Telecommunication Corp. Ltd.'s immediate report of July 7, 2013 concerning a claim together with a class certification motion filed with the Central District Court against D.B.S. Satellite Services (1998) Ltd. and against Telecommunication Systems Ltd. (the "Respondents"), on grounds that the Respondents had breached communication laws by allegedly advertising and promoting the interests of various commercial entities during their broadcasts over the years, the company hereby provides notification that on May 22, 2014, a hearing was held on the certification motion, during which the Petitioners, at the court's recommendation, sought to withdraw the certification motion. The court ordered the filing of withdrawal affidavits by May 29, 2014, after which the court would vacate the certification motion.

DBS Satellite Services (1998) Ltd. Reports Audited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013

DBS Satellite Services (1998) Ltd. reported audited earnings results for the fourth quarter and full year ended December 31, 2013. For the year, the company reported total revenue of ILS 1,635 million compared to ILS 1,636 million for the same period a year ago. Operating profit was ILS 268 million compared to ILS 253 million last year. Earnings before income tax, depreciation and amortization were ILS 530 million compared to ILS 502 million last year. Net loss was ILS 381 million compared to ILS 310 million last year. Cash flow from current operations was ILS 491 million compared to ILS 418 million last year. Payments for investments in property, plant and equipment and intangible assets were ILS 324 million compared to ILS 284 million last year. Free cash flow was ILS 167 million compared to ILS 134 million last year. For the quarter, the company reported total revenue of ILS 417 million compared to ILS 407 million for the same period a year ago. Operating profit was ILS 61 million compared to ILS 73 million last year. Earnings before income tax, depreciation and amortization were ILS 131 million compared to ILS 137 million last year. Net loss was ILS 83 million compared to ILS 20 million last year. Cash flow from current operations was ILS 133 million compared to ILS 119 million last year. Payments for investments in property, plant and equipment and intangible assets were ILS 83 million compared to ILS 72 million last year. Free cash flow was ILS 50 million compared to ILS 47 million last year.

D.B.S. Satellite Services (1998) Ltd Faces Class Action

On October 24, 2013, The Israel Telecommunication Corp. Ltd. received a notice from D.B.S. Satellite Services (1998) Ltd. (Yes) of a claim together with a motion to certify the claim as a class action that had been filed against it with the Tel Aviv District Court on grounds that Yes unlawfully charged its subscribers arbitrary and varying amounts for services they provided to subscribers, at first for free or at a reduced cost, without providing subscribers notice thereof or obtaining their consent thereto. The Petitioner has moved the Court, inter alia, to require Yes to reimburse group members for all of the amounts they were allegedly unlawfully charged and to compensate the group members for violating their freedom of contract and/or the anguish they were caused by being forced to continue the contract with Yes. The Petitioner did not indicate a claim amount, with the exception of non-monetary damage (only) estimated at approximately NIS 8.6 million. Yes is studying the claim and the motion to certify the claim as a class action and neither Yes nor the company is unable, at the present stage, to evaluate the claim's likelihood of success.

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