Internet Gold Reports its Financial Results for the Third Quarter of 2017

 

- Bezeq's Results for the Third Quarter of 2017 Are In Line with its 2017 Annual Guidance

- Net Profit of NIS 18 Million Attributable to Shareholders of Internet Gold forthe Third Quarter of 2017

RAMAT GAN, Israel, Nov. 30, 2017 /PRNewswire/ -- Internet Gold - Golden Lines Ltd. ("the Company") (NASDAQ Global Select Market and TASE: IGLD) today reported its financial results for the third quarter of 2017. Internet Gold holds the controlling interest in B Communications Ltd. (TASE and NASDAQ: BCOM), which in turn holds the controlling interest in Bezeq, The Israel Telecommunication Corporation Ltd. (TASE: BEZQ).

"During October 2017, we succeeded in extending the average duration of our outstanding debt by entering into various debenture exchange transactions and reduced the total payment due during 2018 to only NIS 144 million ($41 million). We are very pleased with the results of both B Communications and Bezeq and feel very comfortable with our debt and equity positions," said Doron Turgeman, CEO of Internet Gold.

Private placement of Series D Debentures: During October 2017, the Company conducted two private placements of approximately NIS 227 million par value of its Series D Debentures to certain institutional, "qualified" and private investors in Israel in exchange for approximately NIS 205 million par value of its outstanding Series C Debentures. Upon completion of the exchange offer, an aggregate principal amount of NIS 40.5 million par value of Series C Debentures and NIS 757.3 million par value of Series D Debentures remain outstanding.

Debt and Liquidity Balances

As of September 30, 2017, Internet Gold's unconsolidated liquidity balances comprised of cash and cash equivalents and short-term investments totaled NIS 197 million ($56 million), its unconsolidated total debt was NIS 798 million ($226 million) and its unconsolidated net debt was NIS 601 million ($170 million).


(In millions)

September 30,

September 30,

September 30,

December 31,


2017

2017

2016

2016


NIS

US$

NIS

NIS






Series C debentures

257

73

384

389

Series D debentures

541

153

546

551

CPI forward

-

-

6

6

Total debt

798

226

936

946






Cash and cash equivalents

20

6

64

48

Short-term investments

177

50

313

334

Total liquidity

197

56

377

382






Net debt

601

170

559

564






Internet Gold's Third Quarter Consolidated Financial Results

Internet Gold's consolidated revenues for the third quarter of 2017 totaled NIS 2.42 billion ($683 million), a 3.8% decrease compared to the NIS 2.51 billion reported in the third quarter of 2016. For both the current and the prior-year periods, Internet Gold's consolidated revenues consisted entirely of Bezeq's revenues.

Internet Gold's consolidated operating profit for the third quarter of 2017 totaled NIS 419 million ($118 million), a 14.0% decrease compared with NIS 487 million reported in the third quarter of 2016.

Internet Gold's consolidated net profit for the third quarter of 2017 totaled NIS 201 million ($57 million) compared with a net loss of NIS 41 million reported in the third quarter of 2016. The loss in the third quarter of 2016 was due to one-time refinancing expenses recorded by B Communications related to the early redemption of its 7⅜% Senior Secured Notes ("Notes").

Internet Gold's net profit attributable to shareholders for the third quarter of 2017 totaled NIS 18 million ($5 million) compared with a net loss of NIS 180 million for the third quarter of 2016.

Internet Gold's Third Quarter Unconsolidated Financial Results

(In millions)

Three months ended September 30,


Year ended December 31,


2017

2017

2016


2016


NIS

US$

NIS


NIS







Financial expenses, net

(6)

(2)

(13)


(44)

Operating expenses

(1)

-

(1)


(5)

Interest in BCOM's net profit (loss)

25

7

(166)


(153)

Net profit (loss)

18

5

(180)


(202)

As of September 30, 2017, Internet Gold held approximately 65% of B Communications' outstanding shares. Accordingly, Internet Gold's interest in B Communications' net profit for the third quarter of 2017 totaled NIS 25 million ($7 million) compared with a net loss of NIS 166 million in the third quarter of 2016. The loss in the third quarter of 2016 was due to one-time refinancing expenses recorded by B Communications related to the early redemption of the Notes.

Internet Gold's unconsolidated net financial expenses in the third quarter of 2017 totaled NIS 6 million ($2 million) compared with NIS 13 million in the third quarter of 2016. These expenses consist of NIS 10 million ($3 million) of interest and CPI linkage expenses related to its publicly-traded debentures. These expenses were partially offset by financial income of NIS 4 million ($1 million) generated by short term investments.

Internet Gold's unconsolidated net profit for the third quarter of 2017 totaled NIS 18 million ($5 million) compared with a net loss of NIS 180 million for the third quarter of 2016.

The Bezeq Group Results (Consolidated)

To provide further insight into its results, the Company is providing the following summary of the consolidated financial report of the Bezeq Group for the third quarter ended September 30, 2017. For a full discussion of Bezeq's results for the third quarter ended September 30, 2017, please refer to its website: http://ir.bezeq.co.il.

Bezeq Group (consolidated)

Q3-2017

Q3-2016

  % change


(NIS millions)






Revenues

2,415

2,510

(3.8%)

Operating profit

544

599

(9.2%)

Operating margin

22.5%

23.9%


Net profit

322

394

(18.3%)

EBITDA

980

1,041

(5.9%)

EBITDA margin

40.6%

41.5%


Diluted EPS (NIS)

0.12

0.14

(14.3%)

Cash flow from operating activities

982

902

8.9%

Payments for investments

353

349

1.1%

Free cash flow 1

677

577

17.3%

Total debt

11,533

11,246

2.6%

Net debt

8,968

9,400

(4.6%)

EBITDA (trailing twelve months)

3,911

4,067

(3.8%)

Net debt/EBITDA (end of period) 2

2.29

2.31






1 Free cash flow is defined as cash flow from operating activities less net payments for investments. 

2 EBITDA in this calculation refers to the trailing twelve months.

Revenues of the Bezeq Group in the third quarter of 2017 were NIS 2.42 billion ($683 million) compared to NIS 2.51 billion in the corresponding quarter of 2016, a decrease of 3.8%. The decrease was due to lower revenues in all group segments.

Salary expenses of the Bezeq Group in the third quarter of 2017 were NIS 502 million ($142 million) compared to NIS 501 million in the corresponding quarter of 2016.

Operating expenses of the Bezeq Group in the third quarter of 2017 were NIS 956 million ($271 million) compared to NIS 994 million in the corresponding quarter of 2016, a decrease of 3.8%. The decrease in operating expenses was due to a reduction in the operating expenses of the various Group subsidiaries, which was influenced by the early adoption of accounting standard IFRS 15.

Other operating income, net of the Bezeq Group in the third quarter of 2017 amounted to NIS 23 million ($7 million) compared to NIS 26 million in the corresponding quarter of 2016. The decrease in other operating income was due to a NIS 11 million ($3 million) fine imposed by the Ministry of Communications as well as an increase in the provision for legal claims, partially offset by an increase in capital gains from the sale of real estate by Bezeq Fixed-Line.

Depreciation and amortization expenses of the Bezeq Group in the third quarter of 2017 were NIS 436 million ($124 million) compared to NIS 442 million in the corresponding quarter of 2016, a decrease of 1.4%. The decrease in depreciation expenses was due to a reduction in the amortization expenses related to the purchase price allocation recorded in connection with the increase in its ownership interest in Yes, partially offset by an increase in depreciation expenses in the cellular segment due to the early adoption of accounting standard IFRS 15.

Operating profit of the Bezeq Group in the third quarter of 2017 was NIS 544 million ($154 million) compared to NIS 599 million in the corresponding quarter of 2016, a decrease of 9.2%.

Financing expenses, net of the Bezeq Group in the third quarter of 2017 amounted to NIS 94 million ($27 million) compared to NIS 104 million in the corresponding quarter of 2016, a decrease of 9.6%. The decrease in financing expenses was primarily due lower expenses at Yes partially offset by an update in the estimated fair value of advanced payments made by the Bezeq Group to Eurocom DBS of NIS 13 million ($4 million).

Tax expenses of the Bezeq Group in the third quarter of 2017 were NIS 128 million ($36 million) compared to NIS 99 million in the corresponding quarter of 2016, an increase of 29.3%. The increase in tax expenses was due a decrease in tax expenses in the third quarter of 2016 as a result of tax adjustments in respect of prior years at Bezeq Fixed-Line.

Net profit of the Bezeq Group in the third quarter of 2017 was NIS 322 million ($91 million) compared to NIS 394 million in the corresponding quarter of 2016, a decrease of 18.3%. The decrease in net profit was due to the aforementioned reduction in revenues and increase in tax expenses.

EBITDA of the Bezeq Group in the third quarter of 2017 was NIS 980 million ($278 million) (EBITDA margin of 40.6%) compared to NIS 1.04 billion (EBITDA margin of 41.5%) in the corresponding quarter of 2016, a decrease of 5.9%.

Cash flow from operating activities of the Bezeq Group in the third quarter of 2017 was NIS 982 million ($278 million) compared to NIS 902 million in the corresponding quarter of 2016, an increase of 8.9%. The increase in cash flow from operating activities was due to changes in working capital.

Payments for investments (Capex) of the Bezeq Group in the third quarter of 2017 was NIS 353 million ($100 million) compared to NIS 349 million in the corresponding quarter of 2016.

Free cash flow of the Bezeq Group in the third quarter of 2017 was NIS 677 million ($192 million) compared to NIS 577 million in the corresponding quarter of 2016, an increase of 17.3%. The increase in free cash flow was due to the aforementioned increase in cash flow from operating activities as well as an increase in proceeds from the sale of real estate due to timing differences.

Total debt of the Bezeq Group as of September 30, 2017 was NIS 11.5 billion ($3.3 billion) compared to NIS 11.2 billion as of September 30, 2016.

Net debt of the Bezeq Group as of September 30, 2017 was NIS 9.0 billion ($2.54 billion) compared to NIS 9.4 billion as of September 30, 2016.

Net debt to EBITDA (trailing twelve months) ratio of the Bezeq Group as of September 30, 2017, was 2.29, compared to 2.31 as of September 30, 2016.

ISA Investigation: The Company has been reporting the events concerning the investigation by the Israel Securities Authority ("ISA") relating to alleged improprieties surrounding the YES -Bezeq transaction and the transaction between YES and Space Communication Ltd. As reported, the investigation appears to focus on Bezeq's 2015 acquisition of the remaining ownership interest in its satellite TV unit, YES, from its then parent company, Eurocom DBS. Following initial reports concerning the investigation, civil claims with motions to certify the claims as class action lawsuits were filed in Israel against the Company, Bezeq and others. The Company is currently evaluating the claims and its course of action.


On November 6, 2017, the Securities Authority issued a press release indicating the conclusion of the Investigation and the transfer of the investigation file to the Tel Aviv District Attorney's Office (Taxation and Economics). The District Attorney's Office is authorized to decide on further action at their discretion.

Notes:

Convenience translation to U.S Dollars

Unless noted specifically otherwise, the dollar denominated figures were converted to US$ using a convenience translation based on the New Israeli Shekel (NIS)/US$ exchange rate of NIS 3.529 = US$ 1 as published by the Bank of Israel for September 30, 2017.

Use of non-IFRS financial measures

We and the Bezeq Group's management regularly use supplemental non-IFRS financial measures internally to understand, manage and evaluate its business and make operating decisions. The following non-IFRS measures are provided in the press release and accompanying supplemental information because management believes these measurements provide consistent and comparable measures to help investors understand the Bezeq Group's current and future operating cash flow performance and are useful for investors and financial institutions to analyze and compare companies on the basis of operating performance:

  • EBITDA - defined as net profit plus income tax expenses, share of loss in equity accounted investee, net financing expenses and depreciation and  amortization;
  • EBITDA trailing twelve months - defined as net profit plus income tax expenses, share of loss in equity accounted investee, net financing expenses and depreciation and  amortization during last twelve months;
  • Net debt - defined as long and short term bank loans and debentures minus cash and cash equivalents and short term investments;
  • Net debt to EBITDA ratio - defined as net debt divided by the trailing twelve months EBITDA;
  • Free Cash Flow (FCF) - defined as cash from operating activities less cash used for the purchase/sale of property, plant and equipment, and intangible assets, net.

These non-IFRS financial measures may differ materially from the non-IFRS financial measures used by other companies.

We present the Bezeq Group's EBITDA as a supplemental performance measure because we believe that it facilitates operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structure, tax positions (such as the impact of changes in effective tax rates or net operating losses) and the age of, and depreciation expenses associated with, fixed assets (affecting relative depreciation expense).

EBITDA should not be considered in isolation or as a substitute for net profit or other statement of operations or cash flow data prepared in accordance with IFRS as a measure of profitability or liquidity. EBITDA does not take into account our debt service requirements and other commitments, including capital expenditures, and, accordingly, is not necessarily indicative of amounts that may be available for discretionary uses. In addition, EBITDA, as presented in this press release, may not be comparable to similarly titled measures reported by other companies due to differences in the way that these measures are calculated.

Management of Bezeq believes that free cash flow is an important measure of its liquidity as well as its ability to service long-term debt, fund future growth and to provide a return to shareholders. We also believe this free cash flow definition does not have any material limitations. Free cash flow is a financial index which is not based on IFRS. Free cash flow is defined as cash from operating activities less cash for the purchase/sale of property, plant and equipment, and intangible assets, net.

Bezeq also uses net debt and the net debt to EBITDA trailing twelve months ratio to analyze its financial capacity for further leverage and in analyzing the company's business and financial condition. Net debt reflects long and short term liabilities minus cash and cash equivalents and investments.

Reconciliations between the Bezeq Group's results on an IFRS and non-IFRS basis with respect to these non-IFRS measurements are provided in tables immediately following the Company's consolidated results. The  non-IFRS financial measures are not meant to be considered in isolation or as a substitute for comparable IFRS measures, and should be read only in conjunction with its consolidated financial statements prepared in accordance with IFRS.

About Internet Gold

Internet Gold is a telecommunications-oriented holding company which is a controlled subsidiary of Eurocom Communications Ltd. Internet Gold's primary holding is its controlling interest in B Communications Ltd. (TASE and Nasdaq: BCOM), which in turn holds the controlling interest in Bezeq, The Israel Telecommunication Corp., Israel's largest telecommunications provider (TASE: BEZQ). Internet Gold's shares are traded on NASDAQ and the TASE under the symbol IGLD. For more information, please visit the following Internet sites:

www.igld.com
www.bcommunications.co.il 
http://ir.bezeq.co.il 
www.eurocom.co.il

Forward-Looking Statements

This press release contains forward-looking statements that are subject to risks and uncertainties.  Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, general business conditions in the industry, changes in the regulatory and legal compliance environments, the failure to manage growth and other risks detailed from time to time in B Communications' filings with the Securities Exchange Commission.  These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements.  Stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement.

For further information, please contact:

Idit Cohen - IR Manager
idit@igld.com
Tel: +972-3-924-0000

Investor relations contacts:
Hadas Friedman - Investor Relations
Hadas@km-ir.co.il/  
Tel: +972-3-516-7620

Internet Gold - Golden Lines Ltd.

Condensed Consolidated Statements of Financial Position as at

(In millions)




















September 30,

September 30,

September 30,

December 31,


2017

2017

2016

2016


NIS

US$

NIS

NIS

Current assets





Cash and cash equivalents

2,562

725

1,012

810

Investments

562

159

1,483

1,240

Trade receivables, net

1,948

552

1,998

2,000

Other receivables

294

83

228

217

Related party

43

13

-

-

Inventory

101

29

96

106

Total current assets

5,510

1,561

4,817

4,373






Non-current assets





Trade and other receivables

520

148

641

644

Property, plant and equipment

6,974

1,976

7,042

7,072

Intangible assets

6,102

1,729

6,724

6,534

Deferred expenses and investments

557

158

483

465

Broadcasting rights

457

129

450

432

Deferred tax assets

1,014

287

1,103

1,007

Total non-current assets

15,624

4,427

16,443

16,154






Total assets

21,134

5,988

21,260

20,527


Internet Gold - Golden Lines Ltd.

Condensed Consolidated Statements of Financial Position as at

(In millions)



September 30,

September 30,

September 30,

December 31,


2017

2017

2016

2016


NIS

US$

NIS

NIS

Current liabilities





Bank loans and credit and debentures

963

273

2,491

2,181

Trade and other payables

1,833

519

1,611

1,661

Related party

-

-

6

32

Dividend payable

522

148

490

-

Current tax liabilities

125

35

223

138

Provisions

94

27

87

80

Employee benefits

251

71

280

315

Total current liabilities

3,788

1,073

5,188

4,407






Non-current liabilities





Bank loans and debentures

13,800

3,909

12,226

12,241

Employee benefits

260

74

237

258

Other liabilities

292

83

257

244

Provisions

48

14

47

47

Deferred tax liabilities

516

146

645

593

Total non-current liabilities

14,916

4,226

13,412

13,383






Total liabilities

18,704

5,299

18,600

17,790






Equity





Attributable to shareholders of the Company 

233

66

198

194

Non-controlling interests

2,197

623

2,462

2,543

Total equity

2,430

689

2,660

2,737






Total liabilities and equity

21,134

5,988

21,260

20,527

         Internet Gold - Golden Lines Ltd.

Condensed Consolidated Statements of Income for the

(In millions, except per share data)


Nine months period ended September 30,

Three months period ended September 30,

Year ended December 31,


2017

2017

2016

2017

2017

2016

2016


NIS 

US$

NIS 

NIS 

US$

NIS 

NIS 









Revenues

7,331

2,077

7,580

2,415

683

2,510

10,084









Costs and expenses








Depreciation and amortization

1,590

451

1,622

537

152

539

2,161

Salaries

1,500

425

1,509

502

142

501

2,017

General and operating expenses

2,897

821

2,995

959

272

997

4,024

Other operating expenses








  (income), net

(1)

-

(21)

(2)

(1)

(14)

21










5,986

1,697

6,105

1,996

565

2,023

8,223









Operating profit

1,345

380

1,475

419

118

487

1,861









Financing expenses, net

407

115

816

119

33

455

975









Profit after financing 








 expenses, net

938

265

659

300

85

32

886









Share of loss in 








 equity-accounted investee

4

1

4

-

-

2

5









Profit before income tax

934

264

655

300

85

30

881









Income tax expenses

273

77

301

99

28

71

442









Net profit (loss) for the period

661

187

354

201

57

(41)

439









Profit (loss) attributable to:








Shareholders of the Company

42

12

(198)

18

5

(180)

(202)

Non-controlling interests

619

175

552

183

52

139

641









Net profit (loss) for the period

661

187

354

201

57

(41)

439









Earnings (loss) per share








Basic

2.21

0.63

(10.37)

0.95

0.27

(9.43)

(10.52)

Diluted

2.21

0.63

(10.37)

0.95

0.27

(9.43)

(10.52)

Reconciliation for NON-IFRS Measures

EBITDA

The following is a reconciliation of the Bezeq Group's net profit to EBITDA:

(In millions)

Three month period ended September 30,

Trailing twelve months ended September 30,


2017

2017

2016

2017

2017

2016


NIS 

US$ 

NIS

NIS 

US$ 

NIS








Net profit

322

91

394

1,215

344

1,428

Income tax expenses

128

36

99

562

159

534

Share of loss in equity-    accounted investee

-

-

2

5

1

7

Financing expenses, net

94

27

104

433

123

308

Depreciation and amortization

436

124

442

1,696

481

1,790








EBITDA

980

278

1,041

3,911

1,108

4,067

 

Net Debt

The following table shows the calculation of the Bezeq Group's net debt:

(In millions)

As at September 30,


2017

2017

2016


NIS 

US$ 

NIS





Short term bank loans and credit and debentures

555

157

2,135

Non-current bank loans and debentures

10,978

3,110

9,111

Cash and cash equivalents

(2,471)

(700)

(938)

Investments

(94)

(27)

(908)





Net debt 

8,968

2,540

9,400

Net Debt to Trailing Twelve Months EBITDA Ratio

The following table shows the calculation of the Bezeq Group's  net debt to trailing twelve months EBITDA ratio:

(In millions)

As at September 30,


2017

2017

2016


NIS 

US$ 

NIS





Net debt 

8,968

2,540

9,400





Trailing twelve months EBITDA

3,911

1,108

4,067





Net debt to EBITDA ratio

2.29

2.29

2.31

 

Reconciliation for NON-IFRS Measures

Free Cash Flow

The following table shows the calculation of the Bezeq Group's free cash flow:

(In millions)

Three month period ended September 30,


2017

2017

2016


NIS 

US$ 

NIS





Cash flow from operating activities

982

278

902

Purchase of property, plant and equipment

(255)

(72)

(290)

Investment in intangible assets and deferred expenses

(98)

(28)

(59)

Proceeds from the sale of property, plant and equipment

48

14

24





Free cash flow

677

192

577

 

Loan to Value (LTV)

The following table shows the calculation of IGLD's loan to value ratio:

(In millions)

As at September 30,


2017


                      NIS



IGLD's unconsolidated net debt

601



Market value of B Communications shares held by IGLD

976



IGLD's LTV

61.6%

Net Asset Value (NAV)

The following table shows the calculation of IGLD's net asset value:

(In millions)

As at September 30,


2017


NIS



Market value of B Communications shares held by IGLD

976



IGLD's unconsolidated net debt

601



IGLD's NAV

375


Designated Disclosure with Respect to the Company's Projected Cash Flows

In connection with the issuance of the Series D Debentures in 2014, we undertook to comply with the "hybrid model disclosure requirements" as determined by the Israeli Securities Authority and as described in the prospectus governing our Series D Debentures.

This model provides that in the event certain financial "warning signs" exist, and for as long as they exist, we will be subject to certain disclosure obligations towards the holders of our Series D Debentures.

In examining the existence of warning signs as of September 30, 2017, our board of directors noted that our consolidated financial statements (unaudited) as well as our separate internal (unpublished) unaudited financial information as of and for the three months period ended September 30, 2017 reflect that we had a continuing negative cash flow from operating activities of NIS 1 million in the third quarter of 2017.

The Israeli regulations provide that the existence of a continuing negative cash flow from operating activities could be deemed to be a "warning sign" unless our board of directors determines that the possible "warning sign" does not reflect a liquidity problem.

Such continuing negative cash flow from operating activities results from the general operating expenses of the Company of NIS 1 million in the third quarter of 2017 and due to the fact that the Company, as a holding company, does not have any cash inflows from operating activities. Our main source of cash inflows is generated from dividends (classified as cash flow from investing activities) or debt issuances (classified as cash flow from financing activities). We did not have any such inflows in the third quarter of 2017.

Such continuing negative cash flow from operating activities does not effect our liquidity in any manner. Our board of directors reviewed our financial position, outstanding debt obligations and our existing and anticipated cash resources and uses and determined that the existence of the continuing negative cash flow from operating activities, as mentioned above, does not reflect a liquidity problem.

Internet Gold's Unconsolidated Balance Sheet

(In millions)

September 30,

September 30,

September 30,

December 31,


2017

2017

2016

2016


NIS 

US$

NIS

NIS

Current assets





Cash and cash equivalents

20

6

64

48

Short-term investments

177

50

313

334

Total current assets

197

56

377

382






Non-current assets





Investment in an investee (*)

834

236

757

758






Total assets

1,031

292

1,134

1,140






Current liabilities 





Current maturities of debentures

183

51

130

130

Other payables

2

1

9

21

Total current liabilities

185

52

139

151






Non-current liabilities





Debentures

613

174

797

795






Total liabilities

798

226

936

946






Total equity

233

66

198

194






Total liabilities and equity

1,031

292

1,134

1,140

 

(*) Investment in B Communications.

Unconsolidated figures as of September 30, 2017:

  • Unconsolidated total equity represents 22.6% of unconsolidated total balance sheet.
  • Unconsolidated LTV ratio is 61.6%.
  • The ratio of cash and cash equivalents plus short-term investments plus dividend receivable from B Communication and market value of B Communications shares over the control permit (approximately 14.78% of B Communications outstanding shares) to unconsolidated current maturities of debentures is 2.27. 
  • Internet Gold's NAV is NIS 375 million.  

 

 

View original content:http://www.prnewswire.com/news-releases/internet-gold-reports-its-financial-results-for-the-third-quarter-of-2017-300564281.html

SOURCE Internet Gold - Golden Lines Ltd.



Journalists and Bloggers

Visit PR Newswire for Journalists for releases, photos and customised feeds just for media.

View and download archived video content distributed by MultiVu on The Digital Center.

 

Get content for your website

Enhance your website's or blog's content with PR Newswire's customised real-time news feeds.
Start today.

 

 
 

Contact PR Newswire

Send us an email at info@prnewswire.co.il or call us at +972-77-2005042

 

 
 

Become a PR Newswire client

Send us an email at info@prnewswire.co.il or call us at +972-77-2005042

 

 
  1. Products & Services
  2. News Releases
  3. Contact Us