Eircom reports ‘robust’ full year results as Meteor storms

27 Aug 2009

Irish former monopoly Eircom has reported a solid set of full year results for the twelve months ended 30 June 2009, with group earnings of EUR692 million (USD988 million) down 1% year-on-year on revenues of EUR1.9 billion (down 3%). Eircom booked an operating loss of EUR486 million but noted an increase in contributions from its mobile arm Meteor, where earnings rose 11% y-o-y to EUR124 million; EBITDA at its fixed line unit was EUR568 million, down 3% on FY2008. In a press release Eircom said: ‘We continue to see growth in broadband, albeit at a slower rate. Fixed line DSL customers increased by 72,000 in the year to 665,000. Over 61% of our retail DSL customers are now on speeds of 3Mbps or greater, up from 12% a year ago, and we are planning to increase our basic product speed to 8Mbps during the current year. Our successful launch of Meteor mobile broadband in March had won 9,000 new customers by the end of June’. Meteor had a total of 1.026 million customers as of 30 June 2009, up 38,000 in the year. Post-paid customers stood at 138,000, 13.5% of the total. Total PSTN lines at 30 June 2009 were 1,542,000, down 67,000 in the year.

Meanwhile, Eircom Holdings, the telco’s majority shareholder, said talks on a deal with Singapore Technologies Telemedia (STT) were continuing with a view to agreeing a recommended deal.

Ireland, eir, eir Mobile