Profits up 4pc at eir as broadband customer numbers increase
Earnings before interest, taxation, depreciation and amortisation at eir were up 4pc year-on-year to €520m, according to the full year results announcement from the company.
Underlying revenue grew 1pc to €1.3bn in the twelve months to 30 June.
The results were driven by continued growth of the company’s broadband, eir vision and eir sport customers.
However after the impact of mobile termination rates and foreign exchange movements, reported revenue for the full financial year declined by 1pc.
In its results announcement today the company said that the mobile termination rates and foreign exchange movements impacts were "broadly neutral" at group level.
Operating costs for the year were €490m representing a reduction of 5pc or €26m compared to the prior year.
"We have produced another year of strong financial and operational results.
The continued growth of our broadband, eir vision and eir sport customers coupled with the increased penetration of triple and quad play bundles, now at 25pc, is evidence of the value that customers see in the products and services we provide," Huib Costermans, CFO eir, said.
The total group broadband customer base was 896,000 customers at 30 June, an increase of 42,000 compared to the prior year.
Wholesale broadband connections increased by 47,000 for the year ended 30 June, bringing the total wholesale broadband lines to 452,000 lines at year-end.
The retail broadband base declined by 5,000 customers during the year to a total of 444,000.
Reported mobile revenue for the year ended 30 June of €341m represented a decreased of €17m or 5pc compared to the prior year period.
Adjusting for the impact of mobile termination rates and regulatory price changes, underlying mobile revenue of €359m for the year ended 30 June 2017 was broadly flat compared to the prior year period.
Mobile earnings before interest, taxation, depreciation, and amortisation at eir for the year ended 30 June was €68m, a decrease of 3pc on the prior year.
Meanwhile the group mobile customer base increased by 1,000 compared to the corresponding prior year, to a total of 1,061,000 customers.