Business

Eir reports 11pc increase in revenue for final quarter of 2021

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Telecommunications provider Eir reported a revenue increase of 11pc in the last three months of 2021, to 332 million euros.

adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased 6 percent to 156 million euros, as the company continued to ‘rationalize’ costs following the acquisition of IT service provider Evros last year.

Operating expenses for the quarter were €100 million, up 8 percent, while Eir kept €289 million in cash on its balance sheet.

The company’s 12-month financial snapshot shows sales of 1.264 billion euros, up 5 percent, with EBITDA of 632 million euros, up 5 percent, Eir said in its results for the quarter ended December 31. last year.

Eir’s total fiber broadband base grew 4pc year-over-year to 826,000 customers, while postpaid mobile grew 9pc to 891,000 customers.

Eir TV customers grew 1pc to 82,000, while ‘bundles’ of television and broadband services accounted for 40pc among fixed-line households, up 3 points from the same period last year.

The results follow the appointment of former Diageo and Mars chief executive Oliver Loomes as CEO, replacing Carolan Lennon.

Eir recently announced a partnership with InfraVia Capital Partners to form a new venture, Fiber Networks Ireland, which Mr Loomes said will increase fiber broadband deployments by 25pc, with 200,000 facilities to be adopted. in this year.

Mr Loomes said: “I am inspired by Eir’s commitment and ambition to provide Ireland with future-proof world-class connectivity infrastructure and I am proud to lead eir in. next stage of the transition.

“Partnering with an experienced growth infrastructure investor, with a successful track record of facilitating fiber optic deployments across Europe, will enable the acceleration and expansion of deployment.” deploying our ultrafast fiber-to-the-door broadband to over 1.9 million homes and businesses across Ireland.

“This collaborative approach will see Ireland become one of the countries with the most fiber connections in the world, faster than originally planned, cementing eir’s position as a national market leader in fiber optic door-to-door delivery across the retail, business and wholesale segments. . ”

https://www.independent.ie/business/irish/eir-reports-11pc-revenue-jump-in-final-quarter-of-2021-41422278.html Eir reports 11pc increase in revenue for final quarter of 2021

Fry Electronics Team

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