Friday 23 March 2018

Exceptional flooding hits Eir with €5m of repair work as revenue rises

Eir chief Richard Moat
Eir chief Richard Moat
Michael Cogley

Michael Cogley

Irish telecoms firm Eir was hit by one-off flood repair costs to its network of €5m as revenue at the company increased by 3pc to €321m in the three month period ending March 31.

Eir's earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 4pc to €125m while operating costs remained broadly in line with the previous year, excluding storm costs.

Total broadband connections in the quarter increased by 19,000 to 836,000 and Eir said 47pc of all broadband connections are now high speed.

At the end of March total customers of Eir's TV offering stood at 49,000.

Eir chief executive Richard Moat said the three quarter results were in line with expectations.

“Our fibre rollout continues at pace and remains on target to reach 1.6 million premises by end of June 2016 and over 80pc of Irish premises as quickly as possible.

"We have commenced our rollout of high speed broadband to 300,000 premises in rural Ireland, and expect to pass the first 100,000 of those premises by the end of the calendar year," he said.

At the end of last year Eir acquired Setanta Sports and Mr Moat said work is already underway to integrate it into the business over the coming months.

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