JERUSALEM: Bezeq Israel Telecom said on Thursday it has targeted annual revenue of ‍8.7 billion to ‍8.9 billion shekels ($2.8 billion) by 2029.

For the first nine months ​of 2025 Bezeq, Israel's largest telecoms group, recorded revenue of 6.5 billion shekels ⁠after 8.8 billion in 2024 and 9.1 billion in 2023.

But while Bezeq, which ⁠faces competition ‌and falling prices in areas of internet, fixed-line and mobile phone and TV services, expects largely stable revenue, it sees higher profitability.

In ⁠a regulatory filing in Tel Aviv, it projects adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 4.2 billion to 4.4 billion by 2029, up from 3.7 billion in 2024.

Capital expenses are expected ⁠at 1.5 billion to 1.6 ​billion shekels, down from 1.7 billion in 2024. Such expenses look to decline as the company has ‍just completed a nationwide deployment of its fiber optics network. In November, Chairman Tomer Raved ​told Reuters that capital expenditure should fall to 16% of sales in the next couple of years from 20% now, along with savings in headcount.

He noted that savings would amount to as much as 200 million shekels in 2026.

Bezeq's targets, the company said, do not include the effects of the removal of structural separation, mergers and acquisitions, or accounting revaluations.

The one-time government telecoms monopoly is in negotiations with the regulators to remove a separation between ⁠its core fixed-line business, which includes its fiber ‌network, with its mobile and TV units.

Bezeq said it would publish a detailed strategic and financial update in March.

Its shares rose 3.5% on Thursday. ‌They are ⁠up 7.7% so far in 2026 after a 37% spike in 2025.

 

($1 = 3.1371 ⁠shekels) (Reporting by Steven Scheer in Jerusalem; Editing by Matthew Lewis)