Eir second quarter results fall short of expectations
Second-quarter results for eir ended 31 December 2017 revealed a dip in revenue compared to the same period in 2016 according to figures released today. The telco reported revenue of €322 million for the quarter, down 2% year-on-year.
The telco also revealed a reduction in operating costs of €10 million, down 8% year-on-year.
Storm Ophelia came in for special mention having cost €3 million in network repairs.
Eir continued to grow its market share in broadband – revealing 595,000 fibre connections.
In a statement accompanying the results, eir CEO Richard Moate drew attention to the decision to withdraw from the government’s National Broadband Plan.
“In terms of the National Broadband Plan (NBP), we have taken the difficult decision to withdraw from the tender process,” said Moate.
“Based upon the significant commercial issues and complexity within the process, together with growing uncertainty on a range of regulatory and pricing issues that reside outside of the NBP process, the company’s board has decided that the risks are too great for its continued participation in the NBP.”
“Over 73% of Irish premises have access to high speed broadband and that will grow to over 80% of homes and businesses when the rural 300,000 rollout is complete. Our 300,000 rural broadband rollout is progressing well and fibre to the home (FTTH) technology is now available to more than 170,000 homes and businesses including 130,000 of our rural rollout. We are encouraged by the positive connection rates for the FTTH products to date. When combined with our mobile network, which delivers 4G coverage to 96% of the population, our network infrastructure is providing seamless connectivity for our customers.”
Eir is in the process of being acquired by a consortium led by NJJ Telecom Europe, part of NJJ Group and Iliad.