Eir announces a 2% increase in its revenues in the first quarter of 2022
Telecommunications company Eir recorded revenue of 303 million euros for the first three months of the year, up 2% compared to 2021.
The results are due to an increase in data services, bundling, last year’s acquisition of IT services provider Evros and the roll-out of the National Broadband Plan.
There was a decline in traditional access, traffic, content and mobile revenue.
Earnings before interest and amortization amounted to 144 million euros, down 7% year-on-year.
Operating expenses increased by 10% to €100m, including a 9% increase in non-salary costs and 11% in salary costs, driven by Evros. Cash on the balance sheet amounted to €329 million at the end of March.
Broadband customers were down 1pc to 961,000 customers at the end of March, although fiber broadband customers numbered 831,000, an increase of 3pc, meaning that 87pc of the broadband base d ‘Eir are now connected to the fiber network.
Eir had just over 1.2 million mobile customers at the end of March, a 4% increase from 2021, with paid subscribers up 9% to 909,000 customers, representing 74% of the total mobile base.
Multi-play bundles accounted for 41% of Eir’s fixed households.
Chief executive Oliver Loomes said customer complaints have improved significantly and are at their lowest point since communications regulator ComReg started recording complaints in 2015.
According to the ComReg Consumer Line Statistics report, mobile customer complaints have dropped 91% and landline customer complaints have dropped 89% since the third quarter of 2020.
“At eir, we are focused on continuing to improve every day through continued investment, training and the expansion of care centers nationwide,” Loomes said.
“While there is evidence of strong improvements, eir is committed to continuing progress through our customer service to significantly improve the service all customers receive; including shorter wait times, faster resolution and more ways to deliver care.
Eir’s rollout of fibre-to-the-home broadband continued, with 800,000 premises completed by the end of March, a 28% increase from 2021.
Eir has also made 5G available to all of its customers in Ireland.
Chief Financial Officer Stephen Tighe said the performance was in line with expectations. “We have seen growth on eir’s fiber broadband base, as well as eir’s postpaid mobile base, with a further increase in eir’s fixed household multi-play aggregation.
“Our fiber rollout and 5G networks continue to grow and continue apace.
“At eir, we have also invested heavily in our customer service offering, opening a new care center in Waterford while expanding our recruitment drive to our other centers in Sligo, Cork and Limerick.
“Looking forward, eir is committed to delivering strong and consistent results that will demonstrate further growth in our customer bases, with continued business development and optimization, with strong cash generation and, most importantly, the continuation of eir’s capital investment program in our fiber and mobile networks to drive growth.