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Partner Communications Value Stock - Dividend - Research Selection

Partner Communications

ISIN: US70211M1099, WKN: 928956

Market price date: 15.01.2021
Market price: 5,05 USD




Partner Communications Fundamental data and company key figures of the share

Annual reports in USD
Key figures 31-03-2020
Cash flow
Net operating cash flow 242.335.000
Capital Expenditures -133.762.000
Free cash flow 108.573.000
Balance sheet
Total Equity 410.261.000
Liabilities & Shareholders equity 1.451.980.000
Income statement
Net income 5.501.030
Eps (diluted) 0,034
Diluted shares outstanding 163.300.000
Net sales/revenue 907.660.000

Fundamental ratios calculated on: 15-01-2021

Ratios
Key figures 15-01-2021
Cash flow
P/C 3,40
   
P/FC 7,60
Balance sheet
ROI0,38
ROE28,26
Income statement
P/E148,53
Div. Yield0,00%
P/B2,01
P/S0,91


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DescriptionData
SymbolPTNR
Market Capitalization824.665.024,00 USD
CountryUnited States
IndicesNASDAQ Comp.
SectorsTelecommunications
Raw Data SourceUS GAAP in Millionen USD
Stock Split
Internetwww.orange.co.il


Description of the company

Business Overview

 

Partner Communications Company Ltd. is a leading Israeli telecommunications company, providing a range of cellular and fixed-line telecommunication services. We offer our subscribers a full range of products and services to address a wide range of communications needs based on advanced technologies currently available as well as a range of competitive tariff plans.

 

As part of our strategy to be a diversified multi-service communications group, we supply our services through two business segments:

 

- the cellular segment, our main business, which represents the largest portion of our total revenues. The cellular business segment includes basic cellular telephony services, text messaging, data, airtime, interconnect, roaming, content services and other value added services. Our services are provided over our cellular network including wholesale services to other operators as well as equipment and device sales. See "Item ‎4B.6a Cellular Services and Products".

 

At December 31, 2015, we had approximately 2,718 thousand cellular subscribers, representing an estimated 27% of total Israeli cellular telephone subscribers at that date. As of that date, approximately 79% of our subscriber base (approximately 2,156 thousand subscribers) was represented by subscribers who subscribe to post-paid tariff plans and 21% (approximately 562 thousand subscribers) by subscribers who subscribe to pre-paid tariff plans. (For a definition of “subscriber”, see “Item 3A Selected Financial Data”);

 

In 2015, as in prior years, we marketed our cellular services mainly under the Orange brand which was licensed to us, as well as under the 012 Mobile brand.

 

and

 

- the fixed-line segment, which includes a number of services provided over fixed-line networks including (1) ISP services that provides access to the internet (both infrastructure and ISP services), business information storage in a secured and advanced data center and cloud services. We also provide Wi-Fi networks, including certain value added services; and fixed-line voice communication services provided through VOB, and SIP voice trunks. Since February 2015, we also provide a full internet service including infrastructure, according to the wholesale market reform; (2) transmission services and primary rate interface (“PRI”); and (3) ILD services, outgoing and incoming international telephony, hubbing, roaming and signaling and calling card services. In addition, this segment includes sales of related equipment. See "Item ‎4B.6b Fixed-line Services and Products".the cellular segment, our main business, which represents the largest portion of our total revenues. The cellular business segment includes basic cellular telephony services, text messaging, data, airtime, interconnect, roaming, content services and other value added services. Our services are provided over our cellular network including wholesale services to other operators as well as equipment and device sales. See "Item ‎4B.6a Cellular Services and Products".

 

In 2015, most of our fixed-line services were marketed under the 012 Smile brand.

 

In February 2016, we rebranded our products and services that were previously under the "Orange" brand to be under the new "Partner" brand.

 

Our GSM/UMTS network covered 99% of the Israeli population at year-end 2015. Our LTE network currently covers 80% of the Israeli population, in line with the deployment milestones in our license. We currently operate our GSM network in the 900 MHz and 1800 MHz bands, the UMTS network in the 900 MHz and 2100 MHz band and the LTE network in the 1800 MHz band. Our services provided on our network include standard and enhanced services, as well as value-added services and products. See “Item ‎4B.6 SERVICES AND PRODUCTS”.

 

In 2015, Partner was named by Marketest, a multi-discipline research and consulting firm, as the leading company among the large cellular companies in Israel in their “market-test rating for customer experience”.

 

In 2015, we were named by the Maala organization in their highest platinum plus category for corporate social responsibility for the eighth consecutive year.

 

History and Development of the Company

 

We were incorporated in Israel under the laws of the State of Israel on September 29, 1997, as Partner Communications Company Ltd. Our products and services were marketed under the “Orange” brand until February 16, 2016, when it was replaced with the “Partner” brand. In addition, since 2011, we have used the 012 Smile brand for certain products and services. Our principal executive offices are located at 8 Amal Street, Afeq Industrial Park, Rosh Ha’ayin 48103, Israel (telephone: +972-54-7814-888). Our website addresses are www.partner.co.il and www.012mobile.co.il. Information contained on our websites does not constitute a part of this annual report. Our authorized U.S. representative is Puglisi and Associates, 850 Library Avenue, Suite 204, Newark, Delaware, 19711 and our agent for service in the United States is CT Corporation, 111 Eighth Avenue, New York, New York 10011.

 

Since our incorporation, we have achieved a number of important milestones:

 

• In April 1998, we received our license to establish and operate a cellular telephone network in Israel.

• In January 1999, we launched full commercial operations with approximately 88% population coverage and established a nationwide distribution.

• In October 1999, we completed our initial public offering of ordinary shares in the form of American Depositary Shares, and received net proceeds of approximately NIS 2,092 million, with the listing of our American Depositary Shares on NASDAQ and the London Stock Exchange. We used part of these net proceeds to repay approximately NIS 1,494 million in indebtedness to our principal shareholders, and the remainder to finance the continued development of our business. (In March 2008, we voluntarily delisted our ADSs from the London Stock Exchange.)

• In August 2000, we completed an offering, registered under the US Securities Act of 1933, as amended, of $175 million (approximately $170.5 million after deducting commissions and offering expenses) in 13% unsecured senior subordinated notes due 2010. These notes were redeemed in August 2005.

• In July 2001, we registered our ordinary shares for trading on the Tel Aviv Stock Exchange.

• In December 2001, the Ministry of Communications (“MoC”) awarded us two bands of spectrum: one band of GSM 1800 spectrum and one band of 2100 UMTS third generation spectrum. •

In June 2002, our license was extended until February 2022.

• In December 2004, we commercially launched our 3G network.

• In March 2005, we completed a debt offering, raising NIS 2.0 billion in a public offering in Israel of notes due 2012.

• In April 2005, we repurchased approximately 33.3 million shares from our Israeli founding shareholders, representing approximately 18.1% of our outstanding shares immediately before the repurchase.

• In the third quarter of 2005, our Board of Directors and shareholders approved the distribution of our first cash dividend, in the amount of NIS 0.57 per share, totaling approximately NIS 86.4 million.

• In March 2006, we launched services based on the High Speed Downlink Packet Access (“HSDPA”) technology. HSDPA is a technological enhancement to our 3G services that offers subscribers the ability to access our 3G services at higher speeds. The HSDPA technology has been deployed to support up to 21 Mbps on the downlink and 5.76 Mbps on the uplink.

• In July 2006, we purchased Med-1 I.C.–1 (1999) Ltd.’s fiber-optic transmission business for approximately NIS 71 million, in order to enable us to reduce our transmission costs as well as to provide our business customers with bundled services of transmission of data and voice and fixed-line services.

• In January 2007, we were granted a domestic fixed license by the Ministry of Communications, and in February 2007 we were granted a network termination point license.

• In December 2008 and January 2009, we launched three additional non-cellular business lines: VoB telephony services, ISP services and Web VOD (video on demand).

• In October 2009, Scailex became our principal shareholder through acquiring the entire interest in the Company of our previous controlling shareholder.

• In February 2010, following the District Court’s approval, a total amount of NIS 1.4 billion or approximately NIS 9.04 per share was paid on March 18, 2010, to shareholders and ADS holders of record on March 7, 2010, as a special dividend distribution.

• In March 2011, we acquired all of the outstanding shares of 012 Smile Telecom Ltd., a leading provider of broadband and traditional telecommunications services in Israel. The acquisition of 012 Smile supported our strategy of becoming a leading comprehensive communications group, expanding our range of services and products.

• In January 2013, S.B. Israel Telecom, an affiliate of Saban Capital Group, a private investment firm, based in Los Angeles, California, specializing in the media, entertainment and communications industries, became our principal shareholder through acquiring 30.87% of our issued and outstanding shares, principally from our previous controlling shareholder, Scailex. See “Item ‎7A Major Shareholders”.

• In November 2013, we entered into a 15-year Network Sharing Agreement with HOT Mobile pursuant to which the parties agreed to create a 50-50 joint venture to operate and develop a cellular network to be shared by both parties (inter alia, as a result of pooling both parties’ radio access network infrastructures to create a single radio access network). The Network Sharing Agreement was approved by the Israeli anti-trust authorities, subject to conditions in May 2014, and by the Ministry of Communications in April 2015. See “Item ‎4B.9 Our Network”.

• In July 2014, we commercially launched limited 4G services in Israel over a frequency band of only 5 MHz in the 1800 spectrum.

• In March 2015, the acting Minister of Communications approved the results of the tender bid process in which we won an additional 5 MHz in the 1800 spectrum (in addition to our 10 MHz frequency bands in the 1800 spectrum).

• In April 2015, following approval by the Minister of Communications, the Network Sharing Agreement with HOT Mobile entered into effect.

• In February 2016, we rebranded our products and services that were previously under the “Orange” brand to be under the new “Partner” brand. See "Item ‎5A.1c Settlement Agreement with Orange Brand Services Ltd."

The Finanzoo GmbH assumes no liability for the accuracy of the information! All information is provided without warranty. Sources:: www.bundesanzeiger.de, www.sec.gov, www.orange.co.il