eir claims ‘solid results’ as it publishes first quarter financials

19 May 2022

Ireland’s eir has released what it called ‘solid results in line with expectations’ in publishing its performance for the quarter ended 31 March 2022. With the company reporting a total turnover of EUR303 million (USD318 million), this represented a 2% year-on-year increase from 1Q21, said to have been driven by growth in data services and bundling, as well as the addition of revenues from EVROS and National Broadband Plan (NBN) access, partly offset by lower turnover from ‘traditional access, traffic, content, and mobile’.

With regards to other key financial indicators, eir’s EBITDA totalled EUR144 million in 1Q22, a 7% drop from the EUR154 million reported for the opening quarter of 2021, while operating costs were up by 10% at EUR100 million. Capital expenditure stood at EUR60 million in the first three months of 2022, compared to EUR74 million in 1Q21.

In operational terms, eir reported that its fixed broadband subscriptions numbered 961,000 at the end of March 2022, down from 970,000 a year earlier, with the drop being ‘due to traditional access decline’. Of the most recent total 435,000 were retail subscriptions (Mar-21: 447,000), while 526,000 were wholesale (523,000). Of note, however, eir did state that 87% of its fixed broadband subscriptions were now connecting via a fibre-based service, up from 84% at Q1 2021. In the mobile sector, meanwhile, subscriptions were reported to have increased to 1.234 million, from 1.192 million at March 2021, of which the lion’s share – 909,000, up from 850,000 – were post-paid.

Ireland, eir, eir Mobile, GoMo (Ireland)