eir reports revenue decline in 2Q22

30 Aug 2022

Ireland’s eir has published its financial results for the quarter ended 30 June 2022, posting a 3% year-on-year drop in underlying revenue, to EUR296 million (USD295 million). According to the company, growth in post-paid mobile and bundling, as well as an increase in National Broadband Plan (NBP) access revenue and the consolidation of Evros’ (the IT services provider it acquired in November 2021) revenue, was more than offset by a reduction in turnover due to the sale of secure communications provider Tetra, coupled with lower revenues from ‘traditional access’, pay-TV and pre-paid mobile. In addition, eir reported an underlying EBITDA of EUR141 million for 2Q22, down from EUR160 million a year earlier, saying the decline had been driven by a change in product mix, rising costs and its ‘aggressive subscriber acquisition cost strategy’.

With regards to operational highlights, eir reported a fixed broadband subscription base totalling 958,000 as of 30 June 2022, down from 970,000 a year earlier, with both retail and wholesale subscriptions declining, to 522,000 (down from 523,000 at June 2021) and 436,000 (447,000), respectively. Confirming the progress of its fibre-to-the-home (FTTH) network rollout, meanwhile, eir said that more than 864,000 premises are now passed by that technology, up 28% y-o-y, while its overarching fibre footprint (FTTH and fibre-to-the-cabinet [FTTC] combined] reached 2.0 million homes and businesses, up from 1.9 million at mid-2021.

In the mobile sector, eir reported a total of 1.26 million subscriptions as of 30 June 2022, up from 1.19 million a year earlier, with continued post-paid growth – 935,000 subscriptions, up from 850,000 at mid-2021 – offsetting a drop in pre-paid (325,000, down from 342,000). Saying its 5G network rollout continued ‘at pace’, meanwhile, eir confirmed that the next generation of mobile broadband technology was now available in more than 485 towns and cities across the country via 1,380 cell sites.

Ireland, eir, eir Mobile