Eircom reports full year results

28 Aug 2008

Irish telco Eircom has reported full year results for the period ended 30 June 2008, which show that revenues rose 4% to EUR2.06 billion (USD3.03 billion). Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose EUR698 million from EUR647 million in the previous year. The rise in earnings was helped by a strong performance from the company’s wireless division Meteor. Earnings at Meteor were up by 78% at EUR116 million, as revenues rose by 24% to EUR481 million due to growth in subscribers and usage. Meteor subscribers totalled 983,000 at the end of June, up 12% year-on-year; post-paid subscribers stood at 123,000, up 23%. Monthly blended average revenue per user (ARPU) was up 4% to EUR40.2 for the twelve-month period to 30 June 2008 compared to prior year, due to increased subscriber activity and higher proportion of post-pay subscribers. However, fixed line revenue at the company was flat for the year at EUR1.6 billion; fixed line earnings were also unchanged at EUR582 million for the year. Broadband subscribers rose by 138,000 to 593,000, a 30% increase over 2007.

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