PTNR - PTNR STOCK NEWS

Partner Communications Company Ltd. (NASDAQ: PTNR) reported its Q2 2022 financial results, achieving total revenues of NIS 859 million (US$ 245 million), up 2% year-over-year. Service revenues increased 9% to NIS 706 million (US$ 202 million), while equipment revenues fell by 20% to NIS 153 million (US$ 44 million). Adjusted EBITDA rose 30% to NIS 276 million (US$ 79 million), marking the highest level in seven years. The cellular subscriber base grew by 32,000, with ARPU rising to NIS 49. Net debt reached NIS 706 million, and adjusted free cash flow was NIS 57 million (US$ 16 million).

Partner Communications Company Ltd. (NASDAQ: PTNR) announced that Standard & Poor's Global Ratings Maalot Ltd. reaffirmed its 'ilA+' credit rating and stable outlook. The rating applies to the Company and its series of debentures, indicating a solid financial position in the telecommunications sector. This affirmation underscores the Company’s stable creditworthiness, reflecting confidence in its operational capabilities and financial health. For additional details, the full report is accessible through a provided link.

On July 28, 2022, Partner Communications Company Ltd. (NASDAQ: PTNR) held its Annual General Meeting (AGM) in Rosh Ha'ayin, Israel. Key resolutions included the reappointment of Kesselman & Kesselman as independent auditors, discussion of the auditor's remuneration for 2021, and the approval of the re-election of five directors. Additionally, the compensation terms for CEO Avi Gabbay were approved, including a special 2022 bonus. All proposals received the required majority as outlined in the Proxy Statement dated June 22, 2022.

Partner Communications Company Ltd. (NASDAQ: PTNR) announced the appointment of Mr. Shlomo Rodav as the new Chairman of the Board, succeeding Mr. Shlomo Zohar. Rodav, who has been a director since April 2022, has prior experience as Chairman at various companies, including Bezek and Tnuva. His leadership is expected to guide Partner in its telecommunications services sector, which includes cellular, internet, and television services.

Partner Communications Company Ltd. (NASDAQ and TASE: PTNR) has announced that it will release its financial results for the quarter ending June 30, 2022, on August 11, 2022. A conference call to discuss these results will also occur on the same day at 10.00 a.m. Eastern Time. Participants can join via international and toll-free numbers, with a live webcast available on the company's Investor Relations website. Archived access to the call will be provided for those unable to attend live, available until August 25, 2022.

Partner Communications (NASDAQ: PTNR) has announced the resignation of Mr. Tamir Amar, the Deputy CEO, Chief Financial Officer, and VP Fiber-Optics. The effective date of his resignation has not been determined. This leadership change could impact the company's future strategies, particularly in finance and fiber-optics operations, which are crucial segments for growth. Partner Communications is a major player in Israel's telecommunications sector, offering cellular, fixed-line, internet, and television services.

Partner Communications Company Ltd. (NASDAQ: PTNR) announced a Special Collective Employment Agreement effective until December 31, 2024. This agreement includes a 3.5% salary increase for eligible employees in 2023 and 2024, along with profit-sharing mechanisms starting in 2023. The estimated cost of this agreement is approximately NIS 20.3 million for 2022 and NIS 41.6 million for both subsequent years. Additionally, the company commits to maintaining its assets without downsizing until at least the end of 2024. The prior labor dispute from April 2022 is now resolved.

Partner Communications Company Ltd. (NASDAQ: PTNR) announces that on June 1, 2022, Zela Holdings Ltd., owned by CEO Avi Gabbay, became a general partner in Amphissa Holdings Limited Partnership. Additionally, Zela Investments Ltd. joined as a limited partner, holding a 10.2% stake in the Partnership. This development follows an earlier report on April 4, 2022, and signifies a strategic move for the company in its involvement with the Partnership.

Partner Communications Company Ltd. (NASDAQ: PTNR) reported its Q1 2022 financial results, showing a 3% revenue increase to NIS 854 million (US$ 269 million). Service revenues rose by 8% to NIS 690 million (US$ 217 million). Adjusted EBITDA grew by 23% to NIS 257 million (US$ 81 million), driven by subscriber growth in both cellular and fiber-optic segments. The fiber-optic subscriber base reached 233,000, with 807,000 households connected. However, equipment revenues decreased by 15% to NIS 164 million, and net debt rose to NIS 720 million, up from NIS 639 million year-over-year.