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Eir reports ‘solid’ trading update as revenue increases

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Carolan Lennon

Carolan Lennon

Carolan Lennon

Eir has reported “solid” results for the three months to September 30, which were “in line with expectations.”

The company reported revenue of €302m in its third quarter, up 1pc on the same period last year.

Earnings before interest, taxation, depreciation and amortisation (EBITDA) of €142m were “stable.”

Meanwhile, the group’s operating cost were €102m, a 7pc increase year-on-year.

Cash on the company’s balance sheet was €192m at the end of September.

“Our performance in the quarter to September was solid, with continued year-on-year growth across our fibre, mobile, TV and bundled customer bases, coupled with revenue growth in data services and postpay mobile, as well as growth from our recent acquisition of Evros as well as NBP access,” Stephen Tighe, Eir CFO, said.

“We expect a continued strong performance into the future, with further growth in revenue and EBITDA, continued business streamlining and optimisation, strong cash generation, and important capital expenditure on our fibre and mobile networks to drive future growth,” he added.

The total Eir fibre broadband base increased by 5pc year-on-year to 823,000 customers.

Meanwhile, the Eir postpay mobile base increased by 10pc to 869,000 customers.

The Eir TV base grew by 6pc to 83,000 customers.

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The company said it has introduced a number of new measures designed to reduce customer wait times.

“Since the arrival of the Covid-19 pandemic, it has become abundantly clear that connectivity helps provide a blueprint for modern living,” Carolan Lennon, Eir CEO, said.

Eir’s 5G network now provides more than 70pc population coverage in 352 towns and cities across Ireland, Ms Lennon said.

“We have extensive ambitions for our 5G network and the improvements this technology can bring to our daily lives,” she added.


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