Cellcom Israel Ltd. (NYSE:CEL) Q2 2019 Earnings Conference Call - Final Transcript

Aug 15, 2019 • 09:00 am ET


Cellcom Israel Ltd. (NYSE:CEL) Q2 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by. Welcome to Cellcom's Second Quarter 2019 Results Conference Call. [Operator Instructions] Following management's formal presentation, instructions will be given for the question-and-answer session. [Operator Instructions] You should have all received by now the Company's press release. If you have not received it, please contact Cellcom's Investor Relations team at GK Investor & Public Relations at 1-646-688-3559 or view it in the News section of the Company's website, www.cellcom.co.il.

I would now like to hand over the call to Mr. Gavriel Frohwein of GK Investor Relations. Mr. Frohwein, would you like to begin?

Gavriel Frohwein

Thank you, operator. I would like to welcome all of you to Cellcom Israel's second quarter 2019 conference call. I would like to thank management for hosting this call today.

With us here are Mr. Nir Sztern, CEO; and Mr. Shlomi Fruhling, CFO. Mr. Sztern will open by providing a summary of the main highlights of the quarter followed by Mr. Fruhling, who will review Cellcom Israel's financial performance in further detail.

Before I turn over the call to Mr. Sztern, I would like to remind our listeners that this call -- on in this call, management's prepared remarks may contain forward-looking statement, which are subject to risks and uncertainties, and management may make additional forward-looking statements in response to your questions. Therefore, the Company claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act of 1995 and in the Israeli Securities Law of 1968. I note that actual results may differ from those discussed today, and therefore, we refer you to a more detailed discussion of the risks and uncertainties in the Company's filings with the Securities and Exchange Commission, including under the risk factors in the Company's Annual Report for the year ended December 31st, 2018, filed under the Form 20-F, which was filed on March 18th, 2019, with the SEC.

In addition, any projections as to the Company's future performance represent management's estimates as of today. Cellcom Israel assumes no obligation to update these projections in the future as market conditions change. You should by -- you should have now received a copy of the company's press release. If you have not received it, please contact us at GK Investor and Public Relations.

I'd like to now hand over the call to Mr. Nir Sztern. Nir, please go ahead.

Nir Sztern

Thanks, Gavriel. Good day to all of you and welcome to our second quarter 2019 earnings conference call. In July, we completed IBC investment deal and the sale of our fiber network in residential areas to IBC. We see significant long-term potential from these developments, both in terms of growth on being part of -- part owner of the fastest and most advanced fixed-line communications network in Israel and also from the potential savings over the coming years to Cellcom. I will go into more details in a few moments.

We're seeing ongoing growth in our fixed-line business. Fixed-line