BT Ireland revenues flat at €943m -- but EBITDA climbs 9pc
BT Ireland has reported flat revenues of £757m (€943m) for its latest full financial year.
However, the division of the UK telecoms parent, which operates across the island of Ireland, said earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 9pc in the year to the end of March, helped by "supplier management and efficiency programmes".
Its free cash flow -- the amount of money it effectively has left over after running the business -- rose 13pc in the year. It doesn't release more detailed figures.
The results for the year came as BT Group released fourth-quarter results that missed analyst estimates. Sales for the period were down 4pc year on year at £4.88bn (€6.08bn). Analysts had been expecting £4.91bn. However, group EBITDA also climbed 4pc in the fourth quarter to £1.6bn (€2bn).
Speaking to the Irish Independent, BT Ireland chief executive Colm O'Neill said the company has continued to secure business here and has continued to invest in its own network and backbone to reduce its reliance on Eircom, which is currently in examinership.
BT Ireland is one of the embattled telco's biggest customers, while Eircom is also one of BT's biggest suppliers of network capacity.
BT will boost the number of telephone exchanges in the Republic, where it has unbundled from Eircom, to 89 this new financial year from 60 previously. That gives it greater latitude in service delivery. Some of the exchanges to be unbundled are in Shannon, Killarney and Letterkenny.
In the Republic, BT now deals exclusively with business customers, having exited the residential market back in 2009. Financial institutions, especially, make up an important part of its client base.
Mr O'Neill said that IT services have continued to drive BT's business here, but it was evident there was a two-speed economy still at work. Many clients are focusing on removing costs from their businesses and so trying to use more effective IT solutions.