eir’s underlying revenue, EBITDA up in FY 2017

14 Sep 2017

Irish multi-service operator eir has published its financial results for the year ended 30 June 2017, revealing that underlying revenue increased by 1% year-on-year to EUR1.32 billion (USD1.57 billion). However, on a reported basis turnover was 1% lower than in FY 2016, at EUR1.30 million. Consumer revenues accounted for EUR648 million of the company total, representing underlying annual growth of 1.4%, attributed by and large to the introduction of higher-value bundle plans. Turnover from the company’s business and wholesale services were roughly unchanged y-o-y, however, at EUR374 million and EUR340 million, respectively. On the back of lower operating costs, meanwhile, EBITDA for the year under review was EUR520 million, representing a 4% annualised increase.

In operational terms, eir reported a total of 1.349 ‘group access paths’ for the end of June 2017, broadly unchanged from 1.350 million a year earlier. That figure comprised 1.172 million access lines (FY16: 1.216 million), 169,000 ‘Stand Alone Broadband’ (SABB) services (FY16: 124,000) and 9,000 LLU connections (FY16: 10,000). The company’s fixed broadband base stood at 896,000 at the end of the reporting period, up almost 5% y-o-y, with fibre-based connections accounting for an increasing proportion of the total – 61.5% at end-June 2017, compared to 50.2% a year earlier. In the mobile arena, eir’s customer base was stable at 1.061 million (FY16: 1.060 million), with 48.4% of subscribers signed up to a post-paid plan, up from 46.9% at mid-2016.

With regards to the company’s infrastructure, eir confirmed that 1.7 million premises are now within its fibre footprint, with the bulk of those (1.6 million) connected via fibre-to-the-cabinet (FTTC) technology, while a further 120,000 homes and businesses have access to fibre-to-the-home (FTTH). Looking ahead, eir has said it expects its fibre network to cover 1.9 million premises by end-2018, made up of 1.6 million premises passed by FTTC and 300,000 by FTTH. Meanwhile, the company’s 4G mobile network now covers 96% of the population, with its nationwide 3G coverage augmented by HSPA+, which has signal coverage of 80% of inhabitants.

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