Eir third quarter results show €324m in revenue, up 3%

Results in line with analyst expectations as investment in fibre pays off

Trade

Oliver Loomes, eir

Er results for the third quarter of 2024 rose by 3% (€9 million) to €324 million.

The telco’s strategy to build out its fibre network saw its broadband base increase by 3% year on year to 883,000 customers.

In mobile, eir reported 1.498 million total customers, up 7%. Postpay mobile customers increased by 111,000 to 1,184,000 customers.

Multi-play bundling accounted for 55% of eir fixed-line households.

Eir has committed a further €500 million in capital investment to further build out its fibre network across Ireland. eir’s critical role in driving a digitally inclusive Ireland, with a network supporting €172 billion of activity in digital economy, alongside the Government’s national broadband plan, will mean that every home and business in the country – more than 2.4 million premises – will have access to high-speed gigabit broadband by the end of 2028.

Oliver Loomes, eir CEO, said: “Eir has achieved another quarter of solid performance, underpinned by our commitment to building Ireland’s best fibre and mobile networks. Revenue increased by 3% year-on-year, reaching €324 million, and EBITDA rose by 1% to €148 million. These results reflect the effective execution of eir’s strategic priorities, particularly our focus on expanding high-quality telecommunications infrastructure to meet growing customer demand. With 1.3 million premises now passed with fibre-to-the-home and over 500,000 homes and businesses connected, eir is not only solidifying its leadership in the sector but also championing the drive toward a digitally inclusive Ireland.

“I’m also proud that we have published our first Economic and Social Impact Report, showcasing eir’s vital role in driving Ireland’s economic growth and development. Over the past six years, we’ve invested nearly €1.7 billion in telecommunications infrastructure, making Ireland one of the most digitally connected countries in Europe. Looking ahead, we have committed an additional €500 million to expand our gigabit fibre network, from 1.3 million premises currently to 1.9 million across the country.”

Stephen Tighe, eir CFO, added: “Our performance in the third quarter of 2024 was in line with expectations. We saw growth across the eir fibre broadband base and in total mobile customers, with a further increase seen in the multi-play bundling of eir fixed households. Our solid commercial momentum is now delivering organic revenue growth on a consistent basis.

“We have continued rolling out our fibre-to-the-home (FTTH) and 5G technologies as part of our €1 billion capital investment programme. Both our fibre rollout and our 5G networks continue to expand and continue at pace.”

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