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Eir revenues jump 5pc in 2021 to over €1.2bn

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Current Eir CEO Oliver Loomes and former CEO Carolan Lennon

Current Eir CEO Oliver Loomes and former CEO Carolan Lennon

Current Eir CEO Oliver Loomes and former CEO Carolan Lennon

Telecoms provider Eir has reported revenue of €1.264bn in the last year, up 5pc on 2020, as it streamlined costs following the purchase of Evros and grew its customer base.

Earnings before interest, tax, depreciation and amortisation (Ebitda) were also up 5pc to €632m in 2021, Eir said in its results quarterly results for the period ended December 31.

Revenues were up 11pc in the final three months of 2021 to €332m while Ebitda grew by 6pc to €156m, as the company continued to ‘streamline’ costs following the acquisition of IT services provider Evros last year.

Operating costs were €100m in the quarter, up 8pc, while Eir held €289m in cash on its balance sheet.

Eir’s total fibre broadband base increased by 4pc year-on-year to 826,000 customers, while post-pay mobile was up 9pc to 891,000 customers.

Eir TV customers grew by 1pc to 82,000, while ‘bundling’ of TV and broadband services accounted for 40pc of fixed households, up three points year-on-year.

The results follow the recent appointment of former Diageo and Mars executive Oliver Loomes as CEO, replacing Carolan Lennon.

Eir has recently announced a partnership with InfraVia Capital Partners to establish a new joint venture, Fibre Networks Ireland, which Mr Loomes said would increase the rollout of fibre broadband by 25pc, with a milestone of 200,000 premises to be passed this year.

“I am inspired by Eir’s commitment and ambition to provide Ireland with world-class future-proofed connectivity infrastructure, and I am proud to be leading Eir into the next stage of its transformation,” Mr Loomes said.

"Partnering with an experienced growth infrastructure investor, with a successful track-record facilitating fibre deployment across Europe, will enable the acceleration and expansion of our ultrafast fibre-to-the-home broadband rollout to over 1.9 million homes and businesses across Ireland.

“This partnership approach will see Ireland become one of the most fibre-connected countries in the world, faster than originally planned, solidifying Eir’s position as the national market leader in fibre-to-the-home provision across retail, business, and wholesale segments.”

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