Eir reports a 1 percent decline in third-quarter revenue

Eir saw broadband and TV subscribers fall in the third quarter of the year but reported a rise in mobile subscriptions, while complaints against the company continued to fall.

Earnings before interest, taxes, depreciation and amortization (EBITDA) for the third quarter ended September 30 were level with the prior year at EUR 139 million.

This has been attributed to streamlining the company’s cost base, but has been offset by additional costs following the acquisition of Evros last January.

Eir reported underlying revenue of €293 million for the quarter, down €4 million year-on-year.

While revenue was boosted by post-payment growth, the launch of the National Broadband Plan and revenue from the Evros acquisition, the company said this was offset by reductions in traditional access, traffic, content and roaming.

Operating expenses fell 2 percent to 100 million euros during the period, a decrease of 2 million euros year-on-year. Utilities fell 9 percent while labor costs rose 7 percent.

The telecom company also saw a 2 percent increase in the number of those using its fiber-optic broadband services to 840,000 customers at the end of the quarter. 88 percent of the group’s broadband base is now connected to Eir’s fiber optic network.

According to Eir, two million buildings are now traversed by the fiber optic network. When a home is “handed over”, it means that it is available for connection through a retail broadband provider.

The Group’s broadband base now totals 957,000, down 1% year-on-year due to a decline in wholesale customers.

TV subscriptions fell 2 percent during this period.

However, bundling increased, with Eir reporting that 85 per cent of households with fixed consumers are now using bundles of two or more products. This is an increase of 2 percent over the same time last year.

Mobile subscriptions also grew in the quarter to 1.295 million customers, up 7 percent year-on-year, while post-payment customers grew 10 percent to 91,000 subscribers.

5G rollout continues to expand, with 5G now available in 510 cities across Ireland.

The company also referenced ComReg’s latest Consumer Line Statistics Report, which showed that complaints from Eir’s customer base had fallen by 40 percent over the past year.

They are now at their lowest level since reporting began in 2015.

“We will continue to build on these advances through 2023 to ensure all of our customers enjoy a seamless customer care experience with issues resolved quickly and comprehensively,” said Chief Executive Oliver Loomes.

Chief Financial Officer Stephen Tighe said the third quarter was in line with expectations.

“We saw growth in eir fiber broadband base and total mobile subscribers, including eir postpaid mobile base, with further growth in multi-play bundling of eir fixed-line homes,” he added.

In August, Eir increased its fixed-line, broadband and mobile charges by €5 a month, a measure affecting 50,000 residential customers.

https://www.independent.ie/business/irish/eir-reports-a-1pc-decline-in-third-quarter-revenues-42144958.html Eir reports a 1 percent decline in third-quarter revenue

Fry Electronics Team

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