The company maintains its NIS 1.7 billion profit guidance, and sees free cash flow of NIS 2.25 billion.
Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) released updated guidance for its 2015 results today. The company estimates that it will report an annual net profit of NIS 1.7 billion, and that its EBITDA (earnings before interest, tax, depreciation and amortization) will total NIS 4.25 billion.
The group's free cash flow for the year is expected to be NIS 2.25 billion.
This represents amplification of the guidance Bezeq gave in November 2015, when it also forecast a profit of NIS 1.7 billion.
Bezeq is in talks with the Tax Authority with a view to amending its tax assessments in connection with the increase in its holding in satellite broadcasting company Yes to 100% last June, which will affect the accounting treatment that Bezeq gave to the effect of the event in its financial statements. The arrangement reached with the Tax Authority will of course affect Bezeq's results in the future, as it gradually tries to use Yes's accumulated losses. Last year, the Israel Securities Authority did not let Bezeq recognize a huge capital gain of NIS 831 million in the second quarter.
Published by Globes [online], Israel business news - www.globes-online.com - on February 1, 2016
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