Telecoms company Eir said revenue fell in the third quarter and earnings were flat, in line with expectations as the company continued to roll out fibre broadband and 5G mobile services around the country.
In a presentation, Eir said reported revenue for the three months ended September 30th was €306 million, down €3 million from the same period a month earlier. Over the first nine months of the year, revenue was €4 million lower at €900 million. Underlying revenue fell by 1 per cent in the quarter to €293 million, with adjusted earnings before interest, tax, depreciation and amortisation flat year on year as the company incurred additional costs related to the acquisition of Evros. Underlying revenues exclude Tetra, which was sold in March 2022 and one-off strategic project revenues.
Operating costs for the quarter were €100 million, down 2 per cent year on year, while non-pay costs fell by 9 per cent. Eir’s costs relating to pay were up 7 per cent, or €3 million.
The company employed 3,487 full time staff at the end of the third quarter, an increase of 4 per cent year on year.
It had cash on hand of €659 million at the end of the quarter.
The company said its fibre broadband base rose 2 per cent to 840,000, with its overall broadband base down 1 per cent due to a decline in wholesale customers. Eir’s fibre to the home (FTTH) now passes more 925,000 premises.
Mobile customers were also higher at almost 1.3 million, a 7 per cent rise, with an increase in post-pay customers to 960,000. The company has made its 5G services available to more than 500 towns and cities across Ireland.
However, despite gains in other areas, Eir TV customers fell 2 per cent to 82,000.
Eir chief executive Oliver Loomes said 2022 continued to be a solid year for the company. “The pace of our FTTH network roll-out is something we are really proud of and we look forward to hitting the major one million milestone early next year,” he said. “Eir has and will continue to make significant investments in our infrastructure, we invest €250 million annually to ensure we have world-class technologies and the highest-quality connectivity available to our customers.”
Mr Loomes said the company’s future focus included a dedicated programme to install a nationwide network of electric vehicle chargers in partnership with EasyGo, replacing Eir phone kiosks. “To date we have committed to delivering more than 70 installs through partnerships with eight county councils, which benefit not only the local communities, but also those travelling through these areas,” he said. “The rapid EV charging units are replacing unused Eir payphone kiosks and are an excellent example of the extent to which Eir has evolved, and continues to transform to meet the changing needs of our society.”
