eir reports latest financial results, posting increases in revenue and EBITDA

24 Nov 2021

Ireland’s eir has published its results for the quarter ended 30 September 2021, reporting a total turnover of EUR302 million (USD339 million), up 1% year-on-year, with the company noting that revenue growth in data services, post-paid and bundling, as well as the addition of NBP [National Broadband Plan] access revenue, was partly offset by a reduction in traditional access, voice traffic, sport content, UK, and pre-paid revenues. Fixed line revenue totalled EUR231 million in the three-month period under review, up from EUR221 million a year earlier, while mobile revenue was down marginally, falling to EUR80 million from EUR83 million. Group EBITDA, meanwhile, reached EUR142 million, broadly stable y-o-y, while operating costs totalled EUR102 million, representing a 7% increase on an annualised basis, driven in part by the company’s acquisition of Evros Technology Group earlier this year.

With regards to operational indicators, eir reported a fixed broadband subscription base of 967,000 as of 30 September 2021, a figure unchanged from a year earlier, albeit that retail subscriptions accounted for 442,000 of the latest total, down from 455,000 a year earlier, while wholesale subscriptions increased to 525,000 from 512,000. According to eir, meanwhile, 85% of its fixed broadband subscriptions were connecting via a fibre-based service as of end-September 2021, up from 81% a year earlier. In terms of its fibre rollout, the operator confirmed its fibre-to-the-home (FTTH) rollout passed more than 715,000 premises at the end of the reporting period, up 34% y-o-y, while a further 1.2 million premises had access to fibre-to-the-cabinet (FTTC) technology.

In the mobile sector, total mobile subscriptions increased to 1.206 million as of 30 September 2021, up from 1.184 million a year earlier, with the bulk of these – 869,000 up from 791,000 – being post-paid subscriptions. Of note, eir confirmed its GoMo (MVNO) sub-brand had passed 300,000 subscriptions by the end of the quarter. However, pre-paid subscriptions declined to 337,000 from 393,000, ‘primarily driven by migration of customers to [post-paid] contracts’. eir also offered an update on its 5G network rollout, confirming that this infrastructure was now available to ‘over 70%’ of the population, with a presence in ‘352 towns and cities from 1,135 sites across all counties’.

Commenting on the company’s performance, eir CFO Stephen Tighe said: ‘Our performance in the quarter to September was solid, with continued year-on-year growth across our fibre, mobile, TV and bundled customer bases, coupled with revenue growth in data services and post-pay mobile, as well as growth from our recent acquisition of Evros as well as NBP access … We expect a continued strong performance into the future, with further growth in revenue and EBITDA, continued business streamlining and optimisation, strong cash generation, and important capital expenditure on our fibre and mobile networks to drive future growth.’

Ireland, eir, eir Mobile, GoMo (Ireland)