Growth in customers sees eir revenue rise to €315m
Customers using fibre broadband services totalled 860,000 at quarter end, representing an increase of 2% or 20,000 customers annually. The Group mobile base stood at 1.4m customers at quarter end, an increase of 8% or 105,000 year on year.
Mobile growth across eir's consumer and ICT base saw the group post a €9m increase in revenue, rising to €315m in the three months to the end of September.
In the same time, operating costs fell by 4% to €96m, following an 8% drop in pay costs. However, The firm's earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 3% or €4m in the same period, with eir attributing the decline to a higher cost of sales from increased commercial investment, coupled with revenue mix.
Maintaining their financial expectations, chief executive, Oliver Loomes noted a "strong quarter" for the company, "significant customer gains across the business."
Customers using fibre broadband services totalled 860,000 at quarter end, representing an increase of 2% or 20,000 customers annually. The Group mobile base stood at 1.4m customers at quarter end, an increase of 8% or 105,000 year on year.
However, the Group's broadband base totalled 947,000 customers at quarter end, decreasing by 1% or 10,000 annually, driven by a decline in wholesale customers of 5% or 27,000.
"In summary, the Group has delivered solid financial and operational results for the third quarter to 30 September 2023, in line with expectations," the company said, with chief financial officer, Stephen Tighe, adding, "We saw growth across the eir fibre broadband base and in total mobile customers, with a further increase seen in the multi-play bundling of eir fixed households.
"Our solid commercial momentum is now delivering organic revenue growth on a consistent basis."
The CFO also noted eir's continued rolling out our fibre-to-the-home (FTTH) and 5G technologies as part of our €1bn capital investment programme, with 1.9m premises expected to be passed with FTTH broadband by end of 2026.
"Through this large-scale investment, we are well-positioned to expand our customer base through the offering of high quality, high value products over the coming years," Mr Tighe concluded.
