Eir confirms steady customer growth with stable revenue last quarter

6 days ago

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The telco is continuing to expand its 5G and fibre broadband networks across Ireland.

Eir had a period of customer growth and stable revenue for the quarter ending 30 September 2021.

The telecoms company reported steady growth in users of its mobile, broadband and TV services, while it works to expand the availability of its services across Ireland.

Eir’s GoMo mobile network now has more than 1.2m users, a 2pc increase on last year, with a significant increase of 10pc for its postpay customer base, now at 869,000 users. TV customers increased by 6pc to 83,000.

Meanwhile, its number of broadband customers was steady at 967,000, with a 3pc increase in wholesale customers and a 3pc decrease in retail customers.

The company’s revenue remained stable at €302m, a 1pc increase from last year, while its operating costs went up by 7pc to €102m. Cash on its balance sheet stood at €192m at the end of the quarter.

Eir has been steadily expanding its services across Ireland and its 5G network is now available to more than 70pc of the population. It also announced this month it will provide free upgrades to its 5G network to all current holders of Eir mobile plans, but this does not apply to GoMo customers.

The telco’s fibre network now passes 2m premises, representing 85pc of the total premises in Ireland. There were 823,000 Eir fibre broadband customers last quarter, an increase of 5pc year on year.

Eir CEO Carolan Lennon said the company is investing €1bn to upgrade its fibre network across Ireland.

“Upon completing the fibre roll-out programme, and in conjunction with the National Broadband Plan, Ireland is on track to become one of the most connected countries in the world,” Lennon added.

Eir’s CFO, Stephen Tighe, said the company expects similar growth in the future after having a solid last quarter.

“We are continuing to focus on our strategy and objectives, with our €1bn investment to roll out Ireland’s best fibre broadband and 5G networks, as well as the expansion of our 4G network and the transformation of our IT stack, all continuing to progress at pace in the quarter,” Tighe said.

Eir Evo officially launched this month after the merger of Eir Business and IT services provider Evros Technology Group.

Lennon said this new company will “provide business customers with an expanded portfolio of services, including voice and
collaboration, cybersecurity, networking and cloud technologies, managed services and more”.

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Leigh Mc Gowran is a journalist with Silicon Republic

editorial@siliconrepublic.com