Bezeq (yes) Reports Fourth Quarter And Full Year 2008 Results

TEL AVIV, Israel — Bezeq The Israel Telecommunication Corp., Limited (TASE: BEZQ), Israel’s leading telecommunications provider, announced today its financial results for the fourth quarter and full year 2008.

yes: Multi-channel pay-TV full year revenue increased 6.9% year-over-year to a record NIS 1.51 billion, driven by a 5.1% improvement in ARPU to NIS 228 and a 2.0% increase in subscribers to 560,000. Full year 2008 EBITDA totaled a record NIS 427 million, up 29.8% year-over-year, reflecting an EBITDA margin of 28.2%; and full year 2008 free cash flow increased to NIS 109 million as compared to a negative NIS 5 million in the full year 2007.

‘yes’ grew its customer base by 2.0% in 2008 with 560,000 subscribers as of December 31, 2008, up 10,400 subscribers from the year ago period and up from 556,000 as of September 30, 2008.

Number of subscribers (end of period, in thousands):

2008  2007  Change
----  ----  ------
 560   549    2.0%

More: Earnings Release