eir records revenues of €328 million in Q2

Telecoms operator reveals superfast broadband services now available to 1.4 million properties

David Baker
by David Baker on 27th January, 2016

Irish telecoms operator eir saw revenues grow by 4% to €328 million in the second quarter, according to its latest financial figures.

It marks a third consecutive quarter of growth while eir’s EBITDA (earnings before interest, tax, depreciation and amortisation) is now €117 million – a rise of 4% year on year.

eir’s Chief Financial Officer Huib Costermans suggested that the firm is predicted low single digit bottom line grow for the complete financial year.

The second quarter saw eir – formerly eircom – acquire Setanta Sports for an undisclosed sum to enhance its TV offering, while 1.4 million households can now receive fibre broadband speeds up to 100 Mbps.

Growth in superfast subscriptions

Some 28,000 properties can access up to 1,000 Mbps broadband too with eir Chief Executive Richard Moat saying that investment in the network continued as planned in the second quarter.

“We remain fully committed and on target to deliver our promise to reach 1.9 million premises by 2020, many of which will have speeds of up to 1,000 Mbps,” he explained.

eir is the fastest broadband provider when offering these speeds – initially rolled out across 15 towns including Belcarra, Cavan, Drogeda, Kilkenny, Sligo and Wexford.

Moat added that the Government’s National Broadband Plan has now entered the pre-qualification phase and that the company is “participating fully in the process to ensure eir makes a compelling submission”.

eir now has 817,000 broadband customers, including those with home broadband subscriptions or TV and broadband subscriptions – a rise of 19,000 in the second quarter. According to the firm, 44% of those connections are superfast broadband.

eir Vision TV

The telecom provider’s eir Vision TV service now has 45,000 customers, meaning it is used by 24% of the consumer fibre customers.

Some 18% of the total customer base have subscribed to a triple play bundle or quad play bundles.

Moat highlighted the acquisition of Setanta Sports as a “transformational opportunity for the business” and added that approvals for the move are expected later in the year. 

Comapre the latest eir broadband TV and home phone pakages