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eir records 2% revenue decline in FY19

3 Sep 2019

Irish fixed line incumbent eir has published its financial results for its financial year ending 30 June 2019, revealing a 2% year-on-year decline in revenue to EUR1.25 billion (USD1.37 billion), attributed to ‘regulatory FTTC pricing changes, a decline in fixed access and managed services revenue, and increased promotional activity to drive retail subscriber growth’. The lion’s share of revenue – EUR939 million – was generated by the company’s fixed line services, down 3% on an annualised basis, and more than offsetting a 2% increase in turnover from mobile services, which rose to EUR344 million. Meanwhile, total group EBITDA for the twelve-month period under review was EUR578 million, up 10% y-o-y, with the improvement underpinned by a 14% reduction in operating costs, to EUR406 million. Capital expenditures for the year totalled EUR270 million, down 13% y-o-y.

In operational terms, eir reported a total of 1.317 million access paths at 30 June 2019, down from 1.340 million a year earlier, including: 648,000 retail access lines (Jun-18: 654,000); 475,000 wholesale access lines (496,000); 3,000 wholesale LLU (4,000). With regards to broadband lines, the telco said it had 944,000 at mid-2019, comprising 464,000 retail connections and 480,000 wholesale. In the mobile sector, eir reported a total subscriber base of 1.023 million, down from 1.047 million at mid-2018, of which 451,000 were pre-paid, 537,000 post-paid and 35,000 mobile broadband only customers.

Turning to the progress of its fibre network rollout, eir said its infrastructure now passed 1.9 million premises, or 81% of all homes and businesses, with 36% of those premises passed connected. Specifically, the telco noted that fibre-to-the-home (FTTH) technology had been made available to a total of 375,000 premises – including more than 308,000 as part of its rural rollout – up from 242,000 a year earlier. Alongside this, eir noted that a EUR150 million investment designed to upgrade and expand its mobile network by 25% was ‘well underway’. According to the telco extensive upgrades and new sites had been made live across 16 counties, and it has said it expects to achieve 99% geographical 4G coverage within two years, providing downlink speeds of up to 350Mbps. 5G services, meanwhile, are expected to launch in five unnamed major cities ‘later in 2019’.

Ireland, eir, eir Mobile

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