Cellcom Israel Ltd. announced consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported revenues of ILS 959 million compared to ILS 1,022 million a year ago. The decrease was due to a 5% decrease in service revenue, which amount to ILS 739 million; and 11% decrease in equipment revenues, which amount to ILS 220 million. The general decline was due to the ongoing high level of competition in general in the Israeli cellular market. Operating profit was ILS 67 million compared to ILS 101 million a year ago. Profit before taxes on income was ILS 36 million compared to ILS 77 million a year ago. Profit for the period was ILS 26 million compared to ILS 59 million a year ago. Profit attributable to owners of the company was ILS 25 million or ILS 0.25 per basic and diluted share compared to ILS 58 million or ILS 0.59 per basic and diluted share a year ago. Net cash from operating activities was ILS 77 million compared to ILS 239 million a year ago. Acquisition of property, plant, and equipment was ILS 93 million compared to ILS 68 million a year ago. Additions to intangible assets and others were ILS 47 million compared to ILS 22 million a year ago. EBITDA was ILS 201 million compared to ILS 238 million a year ago. Free cash flow was ILS 66 million compared to ILS 149 million a year ago. The decrease in free cash flow, resulted mainly from a one-time tax refund received in the first quarter of 2016 and from higher cash capital expenditures in fixed assets and intangible assets in the first quarter of 2017 compared to the first quarter of 2016. During the first quarter of 2017, the company invested ILS 140 million ($39 million) in fixed assets and intangible assets (including, among others, investments in the company's communications networks, information systems, software and TV set-top boxes and capitalization of part of the customer acquisition costs as a result of early adoption of a new International Financial Reporting Standard (IFRS 15)), compared to ILS 90 million ($25 million) in the first quarter 2016.