Bezeq projects increased fibre reach, raises net profit estimates

Bezeq projects increased fibre reach, raises net profit estimates

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Bezeq raised its estimate for adjusted 2022 net profit to US$325-US$354 million as it expects to reach more homes with its fibre-optic network.

Israel’s largest telecoms group projects that it will reach 1.5 million homes with its fibre network in 2022, up from 1.4 million previously, the company announced in a regulatory filing.

"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 2022," Bezeq said in a statement.

The company had previously been embroiled in a standoff with Israel’s regulator over its fibre deployment.

Last year, both sides eventually came to an agreement stating that Bezeq did not have to cover 100% of the country and the operator began its rollout in March 2021.

Its domestic rivals Cellcom and Partner Communications have also been increasing their respective fibre rollouts in Israel.

Earlier this year, Bezeq signed an agreement with Arc Solutions to connect the UAE and Bahrain directly to Israel.

Bezeq is one of Israel’s leading ISPs and is the first Israeli company to own a submarine cable system connecting the country to Europe.

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