Meteor boosts eircom’s Q3 performance

28 May 2008

Irish former monopoly eircom today announced its third quarter financial results for the period ending 31 March 2008, posting revenues of EUR515 million (USD811.5 million), up 5% on the corresponding period of 2007. The group’s mobile arm Meteor posted a 23% year-on-year rise in revenues to EUR120 million on the back of strong subscriber growth and rising monthly ARPUs. The cellco added a net 13,000 new users in the three months to 31 March 2008 to end the period with 975,000 users, up 17% on the same time last year. Meteor’s EBITDA also climbed by 88% in the year to EUR30 million, eircom said, helping drive group earnings before restructuring costs up 11% to EUR175 million. The incumbent’s fixed line business was stable; sales of voice call services were up one percentage point on Q1 2007, to EUR413 million, while the fixed line division’s EBITDA edged up 3% to EUR145 million. eircom’s broadband operations also continued to perform strongly, adding 37,000 new customers in the three months under review, to end March with 571,000 users (up 37% y-o-y). Broadband growth was seen both in the former monopoly’s retail and wholesale businesses, it said.



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