eircom announces Q2 and 1H financial results

28 Feb 2008

Irish former monopoly eircom today announced its second quarter and half year financial results for the period ending 31 December 2007. The operator said fourth-quarter revenue of EUR520 million (USD781 million) was 6% higher than that posted in the year earlier period, while EBITDA before restructuring costs, transaction costs, and other costs was up 12% year-on-year. For the six months ended December, group revenue was EUR1.03 billion, up 5% on the corresponding six months in the prior year, while group EBITDA was EUR346 million, a 7% rise year-on-year.

Commenting on the results, eircom’s chief executive officer Rex Comb said: ‘The second quarter and the half year results reflect the group’s continued ability to deliver solid revenue growth in both mobile and fixed line. Meteor continues to underpin our growth in revenue, EBITDA and subscribers. 54,000 new subscribers joined Meteor this quarter. This brings our total mobile subscribers to 962,000, including 116,000 post-paid subscribers, as of the 31 December 2007, a 20% year on year increase. As of 31 January 2008, there are 972,000 mobile subscribers on Meteor’s network. Increased capital expenditure continues in line with the company’s commitments announced in November 2006. Capital investment cash outflow, including DSL broadband rollout and mobile infrastructure, stood at EUR157 million for the half year period to date. This investment has underpinned and facilitated greater fixed line customer retention and broadband subscriber growth. 44,000 additional DSL broadband customers joined eircom this quarter, a substantial 26% increase on the previous quarter. The increase in broadband customers is reflected across both Retail and Wholesale. Retail added 33,000 DSL subscribers in the quarter, bringing its total base to 381,000’.

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