Irish telco Eircom has announced its financial results for the third quarter of FY14/15, reporting revenues of EUR311 million (USD356 million), down 1.4% year-on-year; despite the drop, the telco noted that the rate of revenue decline continues to decrease. Broken down further, fixed revenues for the quarter ended 31 March 2015 totalled EUR235 million, down 8% y-o-y, while mobile revenues increased 4% to reach EUR87 million. EBITDA for the quarter was reported at EUR120 million, up 8% on an annualised basis, while CAPEX increased from EUR70 million to EUR76 million, representing 25% of revenues.
CEO Richard Moat commented: ‘The financial performance of the group in the third quarter is highly encouraging – the business is nearing an inflection point with fixed line revenues flattening year on year and mobile performance strengthening … We now have 22% of our consumer base on TV/mobile bundles. The rollout of our Next Generation Access (NGA) network continues at pace. Our network has now passed 1.2 million homes and businesses, representing more than 50% of all premises in Ireland.’