Bezeq The Israel Telecommunication Corp. Ltd (BZQIF)

BZQIF Income Statement

Financials in millions ILS. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	8,808	8,884	9,103	8,986	8,821	8,723
Revenue Growth (YoY)	-1.51%	-2.41%	1.30%	1.87%	1.12%	-2.31%
Cost of Revenue	1,937	1,953	1,932	1,832	1,889	1,899
Gross Profit	6,871	6,931	7,171	7,154	6,932	6,824
Selling, General & Admin	3,097	3,257	3,374	3,389	3,257	3,173
Other Operating Expenses	11	12	14	48	-34	1
Operating Expenses	4,719	4,976	5,098	5,305	5,112	5,011
Operating Income	2,152	1,955	2,073	1,849	1,820	1,813
Interest Expense	-350	-346	-299	-254	-270	-303
Interest & Investment Income	99	106	111	44	32	30
Earnings From Equity Investments	-9	-8	-	-	-	-
Currency Exchange Gain (Loss)	-6	-	-12	-8	-5	-
Other Non Operating Income (Expenses)	-71	-48	-59	-120	-40	-14
EBT Excluding Unusual Items	1,815	1,659	1,814	1,511	1,537	1,526
Merger & Restructuring Charges	-197	-195	-74	-180	-132	-113
Gain (Loss) on Sale of Investments	44	59	25	23	-	-11
Gain (Loss) on Sale of Assets	1	8	2	8	175	40
Asset Writedown	-137	-137	-157	-	-	-293
Other Unusual Items	-	-	-75	-26	-15	-65
Pretax Income	1,526	1,394	1,535	1,336	1,565	1,084
Income Tax Expense	306	321	346	336	382	288
Earnings From Continuing Operations	1,220	1,073	1,189	1,000	1,183	796
Minority Interest in Earnings	-1	-1	-	-	-	-
Net Income	1,219	1,072	1,189	1,000	1,183	796
Net Income to Common	1,219	1,072	1,189	1,000	1,183	796
Net Income Growth	9.13%	-9.84%	18.90%	-15.47%	48.62%	-
Shares Outstanding (Basic)	2,786	2,770	2,767	2,766	2,765	2,765
Shares Outstanding (Diluted)	2,786	2,770	2,767	2,766	2,765	2,765
Shares Change (YoY)	-0.14%	0.11%	0.04%	0.04%	-	-
EPS (Basic)	0.44	0.39	0.43	0.36	0.43	0.29
EPS (Diluted)	0.44	0.39	0.43	0.36	0.43	0.29
EPS Growth	9.29%	-9.94%	18.86%	-15.50%	48.62%	-
Free Cash Flow	1,929	2,090	2,122	2,150	1,511	2,087
Free Cash Flow Per Share	0.69	0.76	0.77	0.78	0.55	0.76
Dividend Per Share	0.141	0.288	0.277	0.195	0.087	-
Dividend Growth	-49.88%	4.21%	41.81%	124.97%	-	-
Gross Margin	78.01%	78.02%	78.78%	79.61%	78.59%	78.23%
Operating Margin	24.43%	22.01%	22.77%	20.58%	20.63%	20.78%
Profit Margin	13.84%	12.07%	13.06%	11.13%	13.41%	9.13%
Free Cash Flow Margin	21.90%	23.52%	23.31%	23.93%	17.13%	23.93%
EBITDA	3,074	2,973	3,085	3,717	3,709	3,650
EBITDA Margin	34.90%	33.47%	33.89%	41.36%	42.05%	41.84%
D&A For EBITDA	922	1,018	1,012	1,868	1,889	1,837
EBIT	2,152	1,955	2,073	1,849	1,820	1,813
EBIT Margin	24.43%	22.01%	22.77%	20.58%	20.63%	20.78%
Effective Tax Rate	20.05%	23.03%	22.54%	25.15%	24.41%	26.57%

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.