Cellcom Israel EBITDA up 21% YoY

Cellcom Israel said its first quarter EBITDA of 2016 totaled NIS 238 million, a 21.4 percent increase compared to the first quarter last year.

Net income for the first quarter of 2016 totaled NIS 59 million, a 126.9 percent increase compared to the first quarter last year.

Nir Sztern, Cellcom CEO said, “Despite the challenging competitive environment, in the first quarter of 2016 the group succeeded in strengthening its financial stability and recorded an improvement in the financial indicators alongside a decrease in expenses. In this quarter compared to the first quarter last year, the net income was doubled and EBITDA and free cash flow were increased.”