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Eir reports a 2pc rise in revenue in first quarter of 2022

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Eir has passed 800,000 homes

Eir has passed 800,000 homes

Eir CEO Oliver Loomes

Eir CEO Oliver Loomes

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Eir has passed 800,000 homes

EIR lost broadband and TV customers but boosted mobile subscriptions in the first three months of the year, although complaints against the firm are dropping.

Reported revenue came in at €303m for the first three months of the year, a rise of 2pc compared to the same period in 2021, Eir said in its first quarter financial results.

Revenues were boosted by data services, product bundling, last year’s acquisition of Evros and the National Broadband Plan rollout.

Earnings before interest, taxes, depreciation and amortisation was at €144m, a fall of 7pc year on year.

Operating costs were up 10pc to €100m, including a rise of 9pc in non-pay costs and 11pc in pay costs, driven by IT services firm Evros. There was €329m in cash on Eir’s balance sheet at the end of March.

Despite the boost in mobile customers – up 4pc to just over 1.2 million – mobile revenues fell January to March.

But bill-paying subscriptions rose 9pc to 909,000 customers, representing 74pc of Eir’s total mobile base.

Broadband customers were down 1pc to 961,000 at the end of March, though fibre broadband customers were up 3pc to 831,000, 87pc of Eir’s total broadband base.

TV subscriptions fell 1pc to 80,000.

Bundling of two or more products was up two points on the first quarter of 2021.

Eir had rolled out fibre broadband to 800,000 premises by the end of March, a 28pc increase compared to 2021. It aims to cover 1.9 million premises under the National Broadband Plan.

All Eir’s Irish customers now have access to 5G.

Chief executive Oliver Loomes said customer complaints have improved significantly and stand at their lowest point since the communications regulator, ComReg, began recording complaints in 2015.

Complaints from mobile customers are down 91pc since the third quarter of 2020, with complaints from fixed-line customers have fallen by 89pc, ComReg said.

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“While there is evidence of strong improvements, Eir is committed to further advancements through our customer care to markedly enhance the service that all customers receive; including lower wait times, faster resolution and more ways to provide care,” Mr Loomes said.

Chief financial officer Stephen Tighe said financial performance in the first quarter was in line with expectations.

“Looking forward, Eir is committed to delivering strong, consistent results which will showcase further growth across our customer bases.”


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