Cellcom Israel lowers Capex to $25 million in Q3 2012 from $34 million in third quarter of 2011

Telecom Lead Middle East: Cellcom Israel has lowered its Capex (capital expenditure) to $25 million in the third quarter of 2012 from $34 million in the third quarter of 2011.

The decrease in telecom Capex is primarily resulted from a difference in timing of investments between the quarters.

Cellcom Israel’s revenues decreased 13 percent to $370 million in the third quarter.

Service revenues declined 3.8 percent to $293 million.

Net income of Cellcom Israel decreased 37.7 percent to $32 million.

Cellular Subscriber base totaled approx. 3.338 million at the end of September 2012.

The company has taken aggressive efficiency measures, which led to annual savings of approximately NIS 480 million.

Nir Sztern, chief executive officer, Cellcom Israel

“We continue to leverage and expand the comprehensive services we provide as a communications group, addressing all customer segments, and seeing great success with our Cellcom Total marketing plan, which was launched in July of this year, followed by Cellcom Total for Businesses, a package for small and medium businesses,” said Nir Sztern, chief executive officer, Cellcom Israel.

Cellcom Israel will leverage future opportunities such as the wireline wholesale market and entering new areas of activity, such as cellular credit card and the examination of entry into IPTV.

[email protected]