eir hails first annual revenue rise in 8 years

eir CEO Richard Moat

eir CEO Richard Moat described the company's fiscal year to end-June as a “landmark” year despite that fact that the Irish operator recorded a higher net loss during the period.

Moat noted that a 4 per cent year-on-year rise in revenue was the first annual growth recorded by the operator in eight years, and said a transformation programme that eir undertook during the 12-month period has positioned it well for the future.

In addition to expanding its fibre network, eir “accelerated our 4G rollout programme and have now reached 84 per cent population coverage”, Moat said in a statement accompanying the operator’s earnings announcement.

The CEO added that eir’s 4G network will achieve 95 per cent coverage by early 2017, and said the operator is “fully committed to Ireland’s digital future and we are doing more than any other operator in terms of both fixed and mobile network investment.”

The operator generated revenue of €1.29 billion ($1.44 billion) in the year to end-June compared to €1.24 billion in the 12 months to end-June 2015. However, the company’s operating profit fell from €123 million in the 2015 period to €55 million in the recent 12 months, and its net loss attributable to equity holders grew from €95 million to €158 million. Moat said EBITDA grew 5 per cent year-on-year to €505 million, excluding the cost of repairing storm damage.

eir ended the 12 month period with 1.06 million mobile customers, some 47 per cent of which were on post-pay contracts -- a 3 per cent rise on the subscriber mix at end-June 2015. Data usage in the recent 12 month period was up 52 per cent year-on-year.

CFO Huib Costermans said mobile EBITDA in the year to end-June grew 21 per cent to €70 million, and that mobile revenue was 2 per cent higher at €358 million.

The operator also reported growing demand for bundled services, noting that penetration of its triple- and quad-play services hit 21 per cent by end-June 2016.

For more:
- see this eir announcement (PDF)
- view the operator’s full earnings statement (PDF)

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