In its Q1 results, Eir has reported its second consecutive quarter of revenue growth and third quarter of EBIDTA growth as it achieves milestones including 1Gbps broadband speeds.
Eir CEO Richard Moat said that the company fully intends to participate in the National Broadband Plan to ensure every home and business in Ireland has a minimum of 30Mbps broadband within the next four years.
During the quarter the company formerly known as Eircom rebranded as Eir.
In Q1, Eir reported revenues of €325m, up 4pc on the previous year and the second quarter of revenue growth for the company in a number of years.
EBITDA was up 6pc year-on-year to €120m, the third consecutive quarter of EBITDA growth.
Solid Q1 as 1Gbps broadband rolls out
“This solid financial performance, together with our recent brand launch, provides real momentum as we continue our transformation in an increasingly competitive market,” Moat said.
He said Eir now delivers high-speed broadband to 1.3m homes and is making progress towards its target of reaching 1.9m premises.
‘We share the Government’s vision that everyone in Ireland should have access to high-speed broadband’
– RICHARD MOAT, EIR
“During the quarter we launched Ireland’s fastest broadband, offering speeds of up to 1Gbps using fibre to the home (FTTH) technology. Beyond that, it is our intention to fully participate in the National Broadband Plan as we share the Government’s vision that everyone in Ireland should have access to high-speed broadband.”
Other technological innovations achieved during the quarter included the introduction of HD voice services on the Eir mobile network and the launch of the new Eir Vision Go service that lets users watch 50 channels on tablets and smartphones.
Eir reported that it now has 798,000 total broadband connections, up 16,000 in the quarter and that 41pc of network broadband connections are high-speed broadband.
Eir’s retail broadband base was 453,000 at the end of September, flat on last year.
This was compensated for by gains in Eir’s wholesale base which grew 71,000 year-on-year to reach 344,000 wholesale broadband lines.
Q1 was Eir’s strongest quarter of fibre connections to date, with 45,000 premises upgraded to fibre.
In terms of TV, its Eir Vision service has 43,000 customers and the service has been taken up by 24pc of Eir’s fibre customer base.
In terms of mobile there are now 317,000 4G customers and Eir’s postpay mobile base increased by 11,000 during the quarter.
In terms of Eir’s quest to be the undisputed king of quad play, Eir reported that there are now 1.9 revenue-generating units per household and that 65pc of customers now subscribe to two or more products.