Revenue and earnings increase at Eir

Eir has reported revenue of €1.2bn and adjusted earnings of €624m for the twelve months to June 30.

he performance increased marginally compared to last year, when Eir generated revenue and earnings of €1.2bn and €600m respectively.

The company saw its earnings increase 13pc to €181m in the three months to June 30 this year, according to results from the group.

Eir said it benefitted from continued business streamlining, which drove further operating cost savings in the quarter.

Overall, operating costs at the telecoms group declined 3pc to €93m in the quarter.

Revenue, in what is the company’s fourth quarter, increased 10pc year-on-year to €331m, driven by growth in broadband, data services, post-pay and bundling, as well as the addition of revenues from Evros and NBP access, and the proceeds from the sale of mobile sites.

Eir said the results were “in line with expectations.”

The group’s broadband base totalled 970,000 customers at quarter end, growing by 1pc or 8,000 year on year, driven by growth in the wholesale division.

Customers using fibre broadband services totalled 819,000 at the end of June, representing an increase of 7pc year-on-year in the three-month period.

Eir’s mobile base stood at 1.192m customers at the end of the quarter, an increase of 3pc or 36,000 year-on-year.

Eir, which is the third largest mobile operator in Ireland in terms of revenue and customers, operates the Eir mobile and cheaper GoMo services.

The group’s post-pay base increased by 10pc or 74,000 subscribers year-on-year. Post-pay subscribers account for 71pc of Eir’s total mobile base, an increase of 4 points year on year.

At the end of June Eir had case of €224m on its balance sheet.

“2021 has continued to emphasise the critical importance of our fixed and mobile infrastructure for our customers and the economy,” Carolan Lennon, Eir chief executive, said.

“Through our €1bn capital investment programme, the most significant investment by any telecommunications provider in Ireland, Eir has withstood the storm of the pandemic ensuring our customers had the connectivity they need every single day, made possible by our team of more than 1,000 dedicated engineers,” Ms Lennon added.

Last month Eir said it would add 200,000 homes in rural and regional areas to its fibre-to-the-home broadband roll-out.

None of the homes will be in the Government’s 540,000-premises National Broadband Plan (NBP) area.

Instead, they will be in villages and towns of under 1,000 residents, previously deemed too small for Eir’s fibre rollout.

The latest move will bring Eir’s overall fibre-to-the-home broadband roll-out plan to 1.9 million, representing almost every home in the country outside the National Broadband Plan intervention area.

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