The telco posted quarterly earnings that were in line with expectations, including 10pc year-on-year revenue growth.

Irish telco Eir has posted earnings for the three months ending 30 June, which the company described as “in line with expectations”.

Eir’s revenue for the quarter came to €331m, up 10pc year-on-year, and its earnings before interest, tax, depreciation and amortisation (EBITDA) came to €181m, an increase of 13pc. During the same period, its operating costs increased 3pc from the previous year to €93m.

The company also reported 819,000 fibre broadband customers (up 7pc) as well as 850,000 bill-pay mobile phone users (up 10pc) and 83,000 TV subscribers (up 6pc).

Eir also says that its 5G network now reaches 68pc of the Irish population. This is up from just 29pc at the end of June 2020, and from 57pc in April 2021.

Stephen Tighe, the company’s CFO, commented: “Our  performance  in  the  fourth  quarter  was  strong  and  an  improvement  on  recent  quarters,  with  continued growth in our fibre, mobile, TV and bundled customer bases.

“This, coupled with the acquisition of Evros, National Broadband Plan access revenue,  as  well  as  the  proceeds  from  the  sale  of  mobile  masts,  all  combining  to  drive  solid  growth  in  both revenue and EBITDA in the quarter.”

Tighe continued: “We  expect  continued  strong  growth  in  our  performance  into  the  future,  with  continued  EBITDA  growth, business  streamlining  and  optimisation,  further  cash  generation,  and  capital  expenditure  on  our  networks  to drive future growth.”

Carolan Lennon, Eir’s CEO, added: “2021  has  continued  to  emphasise  the  critical  importance  of  our  fixed  and  mobile  infrastructure  for  our customers  and  the  economy.

“Through  our  €1 bn  capital  investment  programme,  the  most  significant investment by any telecommunications provider in Ireland, Eir has withstood the storm of the pandemic ensuring our customers had the connectivity they need every single day, made possible by our team of more than 1,000 dedicated engineers.”

The roll-out of fibre broadband is a central part of Eir’s current and future strategy. The company’s network now reaches 1.9m premises, or 84pc of the country, on the foot of an expansion programme announced in August.

Eir is majority owned by French telco Iliad. Last month, Iliad’s 71pc owner and founder Xavier Niel launched a bid to take the company private.

 

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