Bezeq The Israel Telecommunication Corp. Ltd. · TASE:BEZQ
Bezeq The Israel Telecommunication — Q2 2025 Earnings Presentation
27 slides from Bezeq The Israel Telecommunication's earnings presentation, July 2025
Slide 1: Bezeq Group Q2-2025 Investor Presentation
Bezeq Group Q2-2025 Investor Presentation
Slide 2: Forward-Looking Information and Statement (Disclaimer)
Forward-Looking Information and Statement (Disclaimer) This presentation contains general data and information as well as forward looking statements about Bezeq - The Israeli Telecommunications Corp., Ltd. (“Bezeq”). Such statements, along with explanations and clarifications presented by Bezeq’s re
Slide 3: Bezeq Group | Q2-2025 Summary
Bezeq Group | Q2-2025 Summary 3.1% growth in core revenues to NIS 1.95 Adj. EBITDA grew 11.3% and Adj. Net Profit billion, due to ARPU and core revenue rose 46%, mainly due to yes’ higher growth across all key Group segments valuation In addition, the Group announced a Continued growth in strategic
Slide 4: Bezeq's Compass | Technological & Business Roadmap
Bezeq’s Compass | Technological & Business Roadmap Migration to fiber Transition to 5G Migration to IP 2020 Launch of fiber project 5G Tender Award Satellite to IP migration • 2.81m homes passed • 924k subscriber take-up (retail + wholesale) • ~1.33m postpaid subscribers Today (58% of postpaid subsc
Slide 5: Bezeq Group | Q2-2025 Summary
Bezeq Group | Q2-2025 Summary Core Revenues Adj. EBITDA Adj. Net Profit NIS 1.95 billion NIS 1.01 million NIS 427 million Adjusted EBITDA margin of 47.4% 3.1% 11.3% 46.2% Free Cash Flow Decrease in Net Debt NIS 230 million NIS 104 million 29% 2.1% 5
Slide 6: Bezeq Group | Q2-2025 Summary (cont'd)
Bezeq Group | Q2-2025 Summary (cont’d) Fiber Net Adds Retail Broadband ARPU Cellular subscribers Cellular ARPU Revenues 44k (2) NIS 136 2.65 million NIS 46 NIS 320 million (retail and wholesale) 5.4% 1.1% 4.5% 1.3% TV subscribers 562k Homes Passed 5G subscriber plans Fiber Subscribers 2.81 1.33 Cell
Slide 7: Bezeq Group | Q2-2025 Key Financial Highlights
Bezeq Group | Q2-2025 Key Financial Highlights | NIS million Revenues Adjusted EBITDA Adjusted Net Profit 3.1%(1) 11.3% 46% 2,192 2,234 2,203 2,235 427 2,136 910 915 974 914 1,013 365 292 309 319 304 273 251 257 189 42% 41% 44% 41% 47% 1,888 1,961 1,952 1,978 1,947 Q2-2024 Q3-2024 Q4-2024 Q1-2025 Q2
Slide 8: Bezeq Group | H1-2025 Key Financial Highlights
Bezeq Group | H1-2025 Key Financial Highlights | NIS million Revenues Adjusted EBITDA Adjusted Net Profit 2.7%(1) 5.5% 26% 4,447 4,371 746 1,827 1,927 591 627 446 3,820 3,925 41% 44% H1-2024 H1-2025 H1-2024 H1-2025 H1-2024 H1-2025 Fixed-line telephony, Pelephone interconnect and Bezeq Intl consumer
Slide 9: Bezeq Group | Operating Expenses
Bezeq Group | Operating Expenses | NIS million Salaries Operating Expenses 5.5% 16.4% 812 832 757 829 477 493 476 496 451 679 • Lower salary expenses due to the sale of Bezeq Online and its deconsolidation as of Q2-2025 Q2-2024 Q3-2024 Q4-2024 Q1-2025 Q2-2025 • Lower operating expenses and Q2-2024 Q
Slide 10: Bezeq Group | Key Quarterly Operational Metrics
Bezeq Group | Key Quarterly Operational Metrics ARPU (NIS) Subscribers (end of period, in thousands) 184 187 186 189 189 2,615 2,639 2,633 2,631 2,645 174 175 172 174 172 131 133 134 136 129 1,409 1,397 1,383 1,366 1,351 1,014 1,012 1,008 1,003 999 44 46 45 45 46 567 563 562 561 562 33 32 31 31 30 4
Slide 11: Bezeq Group | Financial Debt
Bezeq Group | Financial Debt Decrease in net debt Financial Debt (NIS billion) 20.0 3.0 • Decrease of NIS 104 million, or 2.1%, to NIS 4.9 billion 18.0 2.5 1.6 16.0 14.0 1.5 1.5 1.4 1.5 2.0 Net debt/Adjusted EBITDA ratio – 1.5 times 1.5 12.0 10.0 7.9 7.9 7.6 7.7 7.5 1.0 8.0 2.9 0.5 6.0 3.2 2.7 3.0 2
Slide 12: Bezeq Group | Dividend Distribution
Bezeq Group | Dividend Distribution • In accordance with the Company's dividend policy, the Board of Directors has recommended to the General Meeting of the Company's shareholders to distribute a dividend of NIS 583 million, equal to NIS 0.21 per share 80% 70% 1600 85% 60% 75% 1400 50% 975 65% 1200
Slide 13: Bezeq Group | 2025 Outlook
Bezeq Group | 2025 Outlook Original Outlook Outlook as of Revised Outlook)1( March 12, 2025 May 11, 2025 July 30, 2025 Adj. EBITDA (1) NIS 3.7 billion NIS 3.75 billion NIS 3.85 billion Adj. net profit (1) NIS 1.2 billion NIS 1.32 billion NIS 1.45 billion CapEx NIS 1.75 billion Unchanged Unchanged Fi
Slide 14: Bezeq Fixed-Line | Q2-2025 Summary
Bezeq Fixed-Line | Q2-2025 Summary Retail fiber customers Fixed-Line core revenues increased reached 592k as of today, 4.5% to NIS 979 million, driven by an with 5.4% growth in retail increase across all core revenue items broadband ARPU reaching NIS 136 Adj. EBITDA increased 1.6% to NIS 643 million
Slide 15: Bezeq Fixed-Line | Q2-2025 Key Financial Highlights
Bezeq Fixed-Line | Q2-2025 Key Financial Highlights | NIS million Revenues Adjusted EBITDA Adjusted Net Profit 4.5%(1) 1.6% 8.1% 1,075 1,105 1,071 1,101 1,102 656 648 633 638 643 265 261 138 135 128 128 123 235 239 216 970 973 979 59% 58% 61% 59% 58% 937 943 Q2-2024 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q
Slide 16: Fixed-Line | Continued Fiber Deployment and Take-Up Focus
Bezeq Fixed-Line | Continued Fiber Deployment and Take-Up Focus Total Fiber Take-Up (thousands, Retail and Wholesale) Homes Passed (thousands) 2,571 2,671 2,774 2,810 30% 31% 32% 32% 33% 33% 2,312 2,448 907 924 30. 0% 863 120 0 759 810 25. 0% 694 100 0 20. 0% 800 15. 0% 600 10. 0% 5.0 % 400 0.0 % 20
Slide 17: Fixed-Line | Fiber Take-Up – Retail and Wholesale
Bezeq Fixed-Line | Fiber Take-Up – Retail and Wholesale Retail Fiber – Net Adds (Thousands) Wholesale Fiber – Net Adds (Thousands) 41 38 35 24 24 20 33 15 29 13 Q2-2024 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q2-2024 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Total Retail Fiber Take-Up (Thousands) Total Wholesale Fibe
Slide 18: Fixed-Line | Q2-2025 Revenues
Bezeq Fixed-Line | Q2-2025 Revenues | NIS million Broadband Revenues Transmission & Data Cloud & Digital 2.8% 5.5% 3.4% 293 296 292 302 309 87 87 87 87 90 494 500 504 505 508 Q2-2024 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q2-2024 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q2-2024 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Telep
Slide 19: Pelephone | Q2-2025 Summary
Pelephone | Q2-2025 Summary Higher service revenues driven by continued growth in postpaid ARPU was NIS 46, up 4.5%, a Y-o-Y subscribers, including 5G increase of NIS 2 subscriber plans, despite the impact on roaming revenues in June due to the war with Iran 5G postpaid subscriber plans grew by 39k
Slide 20: Pelephone | Q2-2025 Key Financial Highlights
Pelephone | Q2-2025 Key Financial Highlights | NIS million Revenues Adjusted EBITDA Adjusted Net Profit 1.4% 2.6% 22% 489 506 524 525 496 191 191 193 186 186 41 41 141 141 169 165 135 36 33 32 348 365 355 360 361 32% 34% 32% 35% 34% 34% 35% 33% 34% 35% Q2-2024 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q2-2024
Slide 21: Pelephone | Growth in Service Revenues and 5G Plans
Pelephone | Growth in Service Revenues and 5G Plans Postpaid Subscribers on 5G Plans Comparison of Service Revenues in Q2 (Thousands) (NIS million) 14.9% 3.7% 1,276 1,315 1,329 1,195 1,237 1,144 341 350 348 361 276 299 Q2-2024 Q3-2024 Q4-2024 Q1-2025 Q2-2025 As of Q2-2020 Q2-2021 Q2-2022 Q2-2023 Q2-
Slide 22: Pelephone | Q2-2025 Key Operational Metrics
Pelephone | Q2-2025 Key Operational Metrics Subscribers (Thousands) ARPU (NIS) 1.1% 4.5% 2,615 2,639 2,633 2,631 2,645 387 388 376 366 366 46 45 45 46 44 2,228 2,251 2,257 2,265 2,279 Q2-2024 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q2-2024 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Postpaid Prepaid • Continued growth
Slide 23: yes | Q2-2025 Summary
yes | Q2-2025 Summary Revenues increased 1.3% to NIS 320 TV subscribers increased by 1k million, due to higher revenues from the sequentially, reaching 562k, TV + fiber bundle representing the first quarterly increase since Q1-2023 Adj. EBITDA rose 30% to NIS 56 million, driven by higher revenues Co
Slide 24: yes | Q2-2025 Key Financial Highlights
yes | Q2-2025 Key Financial Highlights | NIS Million Revenues Adjusted EBITDA Adjusted Net Profit 1.3% 30% 69% 316 317 317 319 320 51 49 56 (5) 43 35 (13) (16) (22) 14% 11% 16% 15% 18% (30) 14% 14% 11% 16% 15% Q2-2024 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q2-2024 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q2-2024 Q3
Slide 25: yes | Q2-2025 Key Operational Metrics
yes | Q2-2025 Key Operational Metrics Subscribers (Thousands) ARPU (NIS) 2.7%(1) 0.9% 189 189 174 184 175 187 172 186 174 172 567 563 562 561 562 • Total subscribers increased Q-o-Q, for the first quarterly growth since Q1-2023 • ARPU subscribers rose NIS Q2-2024 Q3-2024 Q4-2024 Q1-2025 Q2-2025 5 y-
Slide 26: Bezeq International | Q2-2025 Summary
Bezeq International | Q2-2025 Summary Continued transition from consumer ISP Free cash flow in H1-2025 totaled NIS focus to development of ICT business 19 million, compared to NIS 13 activity: communications, data centers, million in the corresponding period integration, public cloud and cyber Reven
Slide 27: Thank You!
Thank You! For more information please visit us ir.bezeq.co.il
Bezeq The Israel Telecommunication — Q2 2025 Earnings Presentation on 6ix