Eir reports rising customer numbers, 3% drop in revenues
Third quarter financial results from eir released today showed an 8% year-on-year increase in the number of fibre broadband customers to 810,000. Its postpay mobile base increased by 10% to 836,000, while its TV base increased by 5% to 81,000.
The telco attributed the growth of its mobile customer base by 18,000 to 1.189 million to the success of its low-cost GoMo service.
Eir said that 2.1 million premises are now passed by the country’s largest fibre network, representing 88% of premises in Ireland.
5G network rollout has continued to expand, with ultrafast data speeds now available in 288 towns and cities across Ireland. It said outdoor population coverage is now over 57%.
Despite growth in broadband, data services, and bundling, revenues declined by 3% (€8 million) to €299 million as Eir continued to manage declines in traditional access and voice revenues, together with Covid-19 related declines such as in sport content revenue, while also supporting increased voice and data traffic.
Despite the challenges, adjusted EBITDA remained stable for the period, with continued streamlining of the cost base resulting in a €4 million reduction in operating costs, down 4% to €92 million. Non-pay costs reduced by 8% or €4 million, while pay costs remained stable.
“At eir we remain dedicated to ensuring our customers have access to the fastest broadband, highest-quality mobile and best customer service possible,” said Carolan Lennon, CEO, eir. “We are committed to continuously improving the service we provide, including upgrading our networks, expanding the availability of fibre-to-the-home technology, and the further expansion of our 4G and 5G networks. Through our investments we are connecting for a better Ireland, helping to create a connected nation where everyone, everywhere has the opportunity to thrive.
“Our on-going €1 billion capital investment programme is bringing huge benefits for our customers, with access to high-speed broadband across Ireland,” continued Lennon. “Despite the challenges that Covid-19 brought, thanks to the dedication and commitment of Eir’s engineering teams who continued to work throughout the pandemic, eir’s network upgrades and repairs continued throughout.
“Today I am proud to say that eir has passed 2.1 million premises with Ireland’s largest fibre network, or 88% of total premises in Ireland. Of this, 820,000 premises are now passed with fibre-to-the-home across Ireland, up 64% or 319,000 year on year. This level of connectivity across the country is a huge achievement and one that eir is proud to play such a significant role in achieving.
“Eir’s 5G network expansion also continues at pace. 5G technology brings speeds that are six times faster than 4G, reducing latency and supporting the future of technological advancements. Today, Eir’s 5G network, by far Ireland’s largest, is available in 288 towns and cities across Ireland, reaching 57% of the population. 5G technology will drastically shape how we live, work and engage in technology and the continued expansion of Eir’s network will enable all our customers to avail of this technology and use it to its full potential.
“We are also seeing strong growth in our mobile offering, with almost 1.2 million mobile customers now with eir mobile and GoMo, an increase of 2% or 18,000 year-on-year. While eir mobile offers a range of packages to best suit a customer’s needs, GoMo was designed to give customers everything they need from their mobile in one simple proposition.”
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