Partner Communications Company Ltd. (NASDAQ:PTNR) Q2 2020 Earnings Conference Call - Final Transcript

Aug 18, 2020 • 10:00 am ET

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Partner Communications Company Ltd. (NASDAQ:PTNR) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Partner Communications Second Quarter 2020 Results Conference Call. All participants are present in a listen-only mode. [Operator Instructions] Following management's formal presentation, instructions will be given for the question-and-answer session. [Operator Instructions]

I would now like to turn the call over to Mr. Gideon Koch. Mr. Koch, please begin.

Executive
Gideon Koch

Thank you. And thank you to all our listeners, for joining us on this conference call to discuss Partner Communications' second quarter results for 2020. With me on the call today is Isaac Benbenisti, Partner's CEO; and Tamir Amar, our CFO. Isaac Benbenisti will provide an update on Partner's business and strategic developments and an overview of the results for the second quarter. He will then hand over to Tamir, who will provide a more detailed discussion of the quarterly financial and operational results. And finally, we'll move onto the Q&As.

Before we begin, I would like to draw your attention to the fact that all statements in this conference call may be forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933 as amended, Section 21E of the US Securities Exchange Act of 1934 as amended, and the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Regarding such forward-looking statements, you should be aware that Partner's actual results might vary materially from those projected in the forward-looking statements.

Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements are contained in Partner's press release dated August 18, 2020, as well as Partner's filings with the US Securities and Exchange Commission on forms 20-F, F-1 and 6-K as well as the F-3 shelf registration statement, all of which are readily available. Please note that the information in this conference call related to projections or other forward-looking statements is subject to the previous safe harbor statement as of the date of this call.

For your information, this call is being broadcast simultaneously over the Internet, and can be accessed through our website. If you have any further questions following the call, please feel free to contact our Head of Investor Relations and Corporate Projects, Liat Glazer Shaft, on 972-54-781-5051.

I will now turn the call over to Partner's CEO, Isaac Benbenisti. Isaac?

Executive
Isaac Benbenisti

Thank you, Gideon. Good day, everyone, and welcome to our earnings conference call. The rapid adjustments we have made at Partner to adapt to the coronavirus period are reflected in the results that we published today.

Partner finished the quarter with a net profit of NIS7 million, despite the harmful impact from the restrictions on international travel and the reduced activities in shopping malls. The strengthening of the fixed-line segment and our status as a communication group contributed to our ability to remain stable during this period.

In addition, Partner's financial strength led to an improvement in the outlook of our A+ rating from negative to stable. This change when the impact