B COMMUNICATIONS LTD

CIK:0001402606|SEC Filings

Consolidated Statements of Income ₪ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 ILS (₪) ₪ / shares	Dec. 31, 2019 USD ($) $ / shares	Dec. 31, 2018 ILS (₪) ₪ / shares	Dec. 31, 2017 ILS (₪) ₪ / shares
Revenues	₪ 8,929	$ 2,584	₪ 9,321	₪ 9,789
Costs and expenses
Depreciation, amortization and impairment	2,064	597	2,387	2,117
Salaries	1,937	560	1,995	2,007
General and operating expenses	3,276	948	3,394	3,906
Impairment losses	1,274	369	2,294	129
Other operating expenses (income)	(188)	(54)	635	20
Costs and expenses	8,363	2,420	10,705	8,179
Operating profit (loss)	566	164	(1,384)	1,610
Financing expenses (income)
Finance expenses	738	213	620	586
Finance income	(266)	(77)	(89)	(69)
Financing expenses, net	472	136	531	517
Profit (loss) after financing expenses, net	94	28	(1,915)	1,093
Share of loss in equity-accounted investee	2	1	3	5
Profit (loss) before income tax	92	27	(1,918)	1,088
Income tax expenses (benefit)	1,473	426	(59)	347
Net profit (loss) for the year	(1,381)	(399)	(1,859)	741
Profit (loss) attributable to:
Shareholders of the company	(853)	(247)	(1,029)	78
Non-controlling interests	(528)	(152)	(830)	663
Net profit (loss) for the year	₪ (1,381)	$ (399)	₪ (1,859)	₪ 741
Earnings (loss) per share
Basic (in New Shekels per share and Dollars per share) \| (per share)	₪ (19.76)	$ (5.72)	₪ (35.46)	₪ 2.62
Diluted (in New Shekels per share and Dollars per share) \| (per share)	₪ (19.76)	$ (5.72)	₪ (35.46)	₪ 2.62

Consolidated Statements of Cash Flows ₪ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 ILS (₪)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 ILS (₪)	Dec. 31, 2017 ILS (₪)
Cash flows from operating activities
Net profit (loss) for the year	₪ (1,381)	$ (399)	₪ (1,859)	₪ 741
Depreciation, amortization and impairment	2,064	597	2,387	2,117
Loss from impairment of assets	1,274	369	2,293	129
Share of loss of equity accounted investees	2	1	3	5
Finance expenses, net	416	120	541	525
Capital gain, net	(475)	(137)	(13)	(27)
Income tax expenses	1,473	426	(59)	347
Change in inventory	(16)	(5)	(5)	(35)
Change in trade and other receivables	93	27	239	194
Change in trade and other payables	(113)	(33)	(144)	16
Changes in provisions	(49)	(14)	81	15
Changes in employee benefits	(50)	(14)	489	(33)
Change in other liabilities	(8)	(2)		(34)
Net income tax paid	(325)	(94)	(467)	(473)
Net cash provided by operating activities	2,905	842	3,486	3,487
Cash flows from investing activities
Purchase of property, plant and equipment	(1,095)	(317)	(1,216)	(1,131)
Investment in intangible assets and deferred expenses	(382)	(111)	(390)	(399)
Proceeds from the sale of PP&E and investment property	404	117	315	98
Change in investments, net	569	165	(1,168)	301
Net deposits to restricted cash	(39)	(11)
Tax payments regarding sale of investment property	(69)	(20)	(201)
Other	35	10	42	3
Net cash used in investing activities	(577)	(167)	(2,618)	(1,128)
Cash flows from financing activities
Proceeds from issuance of debentures and loans received	2,275	657	1,139	2,635
Repayment of debentures and loans	(4,287)	(1,240)	(1,793)	(1,813)
Interest paid	(496)	(144)	(523)	(537)
Dividends paid by Bezeq to non-controlling interests			(505)	(948)
Payments of principal and interest for leases	(414)	(120)	(422)
Proceeds from issuance of shares, net	447	129
Costs for early repayment of loans and debentures	(93)	(27)
Payments to Eurocom DBS				(61)
Others	(50)	(14)	(46)	(11)
Net cash used in financing Activities	(2,618)	(759)	(2,150)	(735)
Net increase (decrease) in cash and cash equivalents	(290)	(84)	(1,282)	1,624
Cash and cash equivalents as at the beginning of the year	1,104	320	2,386	762
Cash and cash equivalents as at the end of the year	₪ 814	$ 236	₪ 1,104	₪ 2,386

Consolidated Statements of Financial Position ₪ in Millions, $ in Millions	Dec. 31, 2019 ILS (₪)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 ILS (₪)
Current assets
Cash and cash equivalents	₪ 814	$ 236	₪ 1,104
Restricted cash	39	11
Investments	1,241	360	1,780
Trade receivables, net	1,689	489	1,773
Other receivables	313	90	269
Assets held for sale	43	12
Inventory	93	27	97
Total current assets	4,232	1,225	5,023
Non-current assets
Long-term trade and other receivables	477	138	470
Property, plant and equipment	6,032	1,745	6,313
Intangible assets	3,180	920	4,227
Deferred expenses and non-current investments	366	106	509
Broadcasting rights, net of rights exercised	59	17	60
Rights of use assets	1,182	342	1,504
Deferred tax assets	59	17	1,205
Investment property			64
Total non-current assets	11,355	3,285	14,352
Total assets	15,587	4,510	19,375
Current liabilities
Bank loans and debentures	1,007	291	3,997
Leases liabilities	416	120	445
Trade and other payables	1,425	413	1,702
Current tax liabilities			8
Provisions	125	36	175
Employee benefits	654	189	581
Total current liabilities	3,627	1,049	6,908
Non-current liabilities
Bank loans and debentures	10,412	3,013	9,637
Leases liabilities	969	280	1,106
Employee benefits	356	103	445
Other liabilities	139	40	175
Provisions	49	14	38
Deferred tax liabilities	237	69	302
Total non-current liabilities	12,162	3,519	11,703
Total liabilities	15,789	4,568	18,611
Equity (Deficit)
Attributable to shareholders of the company	(187)	(54)	228
Non-controlling interests	(15)	(4)	536
Total equity (deficit)	(202)	(58)	764
Total liabilities and equity (deficit)	₪ 15,587	$ 4,510	₪ 19,375