Eir reports decline in sales and profits in the second quarter

Eir saw both revenue and profit decline in the second quarter of the year, while fiber broadband and wireless subscribers grew during the period.

Earnings before interest, taxes, depreciation and amortization for the second quarter ended June 30 were EUR 141 million, down 12 percent year-on-year.

Eir reported underlying revenue of €296 million for the quarter, down 3 percent year-on-year.

While revenue was boosted by growth in postpay, the launch of the National Broadband Plan and the acquisition of Evros last year, the company said it was doing so by reducing traditional access, traffic, content and roaming, and sales Tetra’s was offset joint venture.

Operating expenses increased 3 percent to 97 million euros for the period, an increase of 3 million euros year-on-year, due to a 10 percent increase in ancillary costs, while labor costs fell 4 percent.

The telecom company also saw a 2 percent increase in the number of customers using its fiber-optic broadband services to 835,000 customers at the end of the quarter. 87 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 935,000, down 1 percent year-on-year.

TV subscriptions fell 4 percent during this period.

Mobile subscriptions also grew in the quarter to 1.26 million customers, up 6 percent year-on-year, while post-payment customers grew 10 percent to 85,000 subscribers.

5G rollout continues to expand, with 5G now available in 485 towns and cities across Ireland.

The company also referenced ComReg’s most recent Consumer Line Statistics report, which shows that complaints from Eir’s mobile subscriber base have fallen by 91 percent since the third quarter of 2020, while complaints about fixed-line services have fallen by 88 percent over the same period.

“The journey is not over yet and despite great progress we can and will go further. Our goal is to ensure that all of their customers enjoy a seamless customer care experience, where issues are resolved quickly and comprehensively,” said Chief Executive Oliver Loomes.

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

“We continued to roll out our Fibre-to-the-Home (FTTH) and 5G technologies as part of our €1 billion investment program. Both our fiber rollout and our 5G networks continue to roll out and continue at pace,” he added.

https://www.independent.ie/business/irish/eir-reports-decline-in-revenues-and-profits-in-second-quarter-41946108.html Eir reports decline in sales and profits in the second quarter

Fry Electronics Team

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