Eir's quarterly revenue decline slightly by 1%

Eir's TV service customer base dropped 2%, or 1,000 customers, to 82,000.

Eir's operating costs decreased 2% year on year to €100m.

Eir posted a slight drop in underlying revenue during Q3, despite economic headwinds including rising energy costs.

Eir’s underlying revenue declined 1%, or €4m, to €293m compared to the same period last year.

“2022 continued to be a solid year for Eir,” said its CEO Oliver Loomes.

The telecoms firm said that revenue growth in postpay, National Broadband Plan access and bundling, and additional revenues from its acquisition of Evros were offset by a reduction in traffic, content and other mobile revenue.

Meanwhile, Eir’s competitor Vodafone said high energy costs and wider inflation have impacted the telecommunication company’s financial performance, forcing it to lower its full year guidance to the bottom end of its prior range.

Vodafone said a “comprehensive action plan” is underway to mitigate the effects of the wider economy, including raising prices across Europe and finding cost savings across the business However, Eir has not yet lowered its guidance for the rest of the year amid economic uncertainty.

“We are well-positioned to expand our customer base through the offering of high quality, high value products over the coming years,” said Stephen Tighe, Eir’s CFO.

In its latest trading update, Eir also posted underlying Ebitda of €139m, which was flat year on year.

The company’s operating costs decreased 2% year on year to €100m.

Eir’s fibre broadband customer base increased by 2% to 840,000 customers, and its postpay mobile customers increased by 10% to 960,000 customers.

However, its TV service customer base dropped 2%, or 1,000 customers, to 82,000.

The company said the latest results are in line with expectations.

- Additional reporting by Bloomberg