Business Irish

Saturday 7 December 2019

Eircom posts 3pc drop in quarterly revenues, mobile stronger


Ailish O'Hora

EIRCOM has posted revenues of €313m, down 3pc year on year in the quarter ended September but up 1pc quarter on quarter.

However, the company said that its mobile division was continuing to grow with sales up 2pc compared with the same period last year.

Earnings before interest, tax, depreciation and appreciation of €114m were off 6pc due to planned investment in subscriber growth, the company added today.

Its broadband connections were up 8pc to 731,000 broadband connections while costs also fell.

“We have maintained our momentum in the first quarter, through focused commercial execution and continued investment in our fixed and mobile network," said chief executive Richard Moat.

"The rate of revenue decline has slowed significantly, an encouraging sign of stabilisation, helped by two consecutive quarters of mobile revenue growth.

"Our bottom line performance remains in line with expectations, following a decision to make commercial investments this quarter that will deliver long term growth."

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