eir records 4% revenue increase to €325 million
Growth in superfast broadband, TV and broadband subscriptions recorded
eir revenues increased by 4% to €325 million in the first quarter of its financial year, according to the firm’s financial results for the period ending 30 September 2015.
It marks a second consecutive quarter of revenue growth and a third consecutive quarter where earnings before interest, tax, depreciation and amortisation (EBITDA) also grew.
Richard Moat, CEO of eir, described it as a strong first quarter for the firm and said the growth “provides real momentum” in a very competitive marketplace following the rebranding from eircom.
EBITDA for the quarter was €120 million, up by 6% when compared to September 2014.
Superfast broadband and TV growth
Growth in superfast broadband was noted by eir, and Mr Moat reports that they are progressing well as they aim to reach 1.9 million premises across Ireland.
He reported the strongest quarter to date for fibre broadband take-up while the quarter also saw the company become Ireland’s fastest broadband provider, with speeds of up to 1,000Mb/s using fibre-to-the-home technology.
The superfast broadband is initially available in Belcarra, Carrigaline, Castlebar, Cavan, Douglas, Drogheda, Ennis, Greystones, Kilkenny, Letterkenny, Naas, Sandyford, Sligo, Tralee and Wexford, although eir plans to expand its reach in the coming years.
The number of eir’s broadband customers totalled 798,000 at the end of September, representing an increase of 16,000 from the previous quarter and 66,000 from a year before.
Wholesale broadband connections were also up by 17,000, while eir reports that 41% of customers with home broadband subscriptions were using high-speed services.
Some 326,000 customers are now using high speed broadband services which represents 41% of eir’s broadband customer bases, while the firm’s penetration rate of all premises now stands at 24%.
TV and broadband subscriptions were up as Eer Vision TV now has 43,000 customers, while eir also reported growth in its triple-play bundles and quad-play bundles, with 65% of customers now subscribing to at least two products.