Eir see revenues fall as operating costs increase

The total Eir fibre broadband base increased by 2% year on year to 835,000 customers.

Revenues at Eir fell by €12m in the second quarter as the telecoms firm lost TV and broadband customers.

In a trading update, the company said its results were in line with expectations underlying revenue of €296m for the three months to June 30 decreased by 3%. The company said that revenue growth amongst mobile bill pay, national broadband plan access and revenues from its Evros unit were offset by a reduction in traffic, content and roaming as well as the sale of Tetra joint venture.

Eir's underlying earnings before interest, tax, depreciation and amortisation (EBITDA) was €141m, a 12% decrease, or €19m, year-on-year. Operating costs of €97m increased by 3%, or €3m, year-on-year. Non-pay costs increased by 10% or €5m, while pay costs decreased by 4% or €2m.

The total Eir fibre broadband base increased by 2% year-on-year to 835,000 customers, and the Eir postpay mobile base increased by 10% to 935,000 customers. 

“Our performance in the second quarter of 2022, to the end of 30 June 2022, was in line with expectations," Stephen Tighe, Eir's CFO said. "We saw growth across the eir fibre broadband base and in total mobile customers, including the eir postpay mobile base, with a further increase seen in the multi-play bundling of eir fixed households."

Oliver Loomes, Eir's CEO said the company's engineers have passed 864,000 of a targeted 1.9 million premises as part of their fibre-to-the-home (FTTH) roll-out programme. 

"Our rollout, combined with the National Broadband Plan, will make Ireland one of the most fibre-connected countries in the world," he said.