Bezeq Group updates 2021 guidance
Immediate Report – Bezeq Group's Updated Forecast for 2021
The Company is hereby updating the Group's forecast for 2021, which was published in the Company's immediate report dated March 25, 2021 and in Section 1.6 of the chapter entitled Description of the Corporation's Business in the Company's 2020 Periodic Report published on the same date (hereinafter - the "Periodic Report”), based on the information currently known to it, as follows:
• Adjusted net profit attributable to shareholders is expected to be approximately NIS 1.1 billion (compared with approximately NIS 1 billion in the original forecast).
• Adjusted EBITDA is expected to be approximately NIS 3.65 billion (compared with approximately NIS 3.5 billion in the original forecast).
• CAPEX is expected to be approximately NIS 1.8 billion (compared with approximately NIS 1.7 billion in the original forecast).
The Company forecasts stated in this immediate report are forward looking information in its meaning in the Securities Law, 1968. The forecasts are based on the Company's estimates, assumptions and expectations.
The forecasts are based, among other things, on the Group's estimates regarding the structure of the competition in the communications market and the regulation of the sector, on the current economic situation in Israel, and accordingly - on the Group's ability to continue to implement its plans for 2021, taking into account the changes in the above, the business conditions and the impact of regulatory decisions, technological changes, developments in the structure of the communications market, etc., or if one or more of the risk factors listed in the Periodic Report materializes. In addition, there is no certainty that the forecast will fully or partially materialize, inter alia, due to the COVID-19 pandemic and the significant uncertainty resulting therefrom.
The Company will report, as required, on deviations of ± 10% or more from the amounts specified in the forecast.
“Bezeq” The Israel Telecommunication Corp., Limited
The above information constitutes a translation of the Immediate Report published by the Company. The Hebrew version was submitted by the Company to the relevant authorities pursuant to Israeli law, and represents the binding version and the only one having legal effect. This translation was prepared for convenience purposes only.