Eir annual revenues still in decline despite strong fourth quarter

Eir chief executive Carolan Lennon: Eir said it had continued to improve its heavily criticised customer care services, with nearly 80% fewer complaints logged since the peak of the Covid crisis last year. File picture

 

Eir has posted an improved quarterly financial performance, but its revenues remain in decline on a full-year basis.

The communications group said revenue for its fourth quarter – covering the three months to the end of June – jumped 10% to €331m. Earnings for the quarter were up €22m at €181m. The company said it saw strong customer growth across all of its product platforms during the three months.

However, for the full year, Eir’s annual revenue – gradually declining in the past few years – was down by 1% to €1.2bn. That said, its adjusted earnings grew by 3%, over the year, to €656m.

Strong performance

“Our performance in the fourth quarter was strong and an improvement on recent quarters, with continued growth in our fibre, mobile, TV and bundled customer bases, coupled with the acquisition of Evros, NBP access revenue, as well as the proceeds from the sale of mobile masts, all combining to drive solid growth in both revenue and EBITDA in the quarter,” said Eir’s chief financial officer Stephen Tighe.

“We expect continued strong growth in our performance into the future, with continued EBITDA growth, business streamlining and optimisation, further cash generation, and capital expenditure on our networks to drive future growth," he said.

Customer care

Eir said it had continued to improve its heavily criticised customer care services, with a 52% reduction in fixed complaints on a quarter-by-quarter basis and nearly 80% fewer complaints logged since the peak of the Covid crisis last year.

“We have continued to focus on our strategy and objectives, with our €1bn investment to roll out fibre broadband and 5G, as well as the expansion of 4G and upgrade of our IT stack, all continuing to progress at pace in the fourth quarter," Mr Tighe said.