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eircom revenue decreases but broadband connections on the rise

Broadband connections increasing as the company focuses on expanding their fibre to the home (FTTH) footprint

eircom experienced revenues of €311 million for the third quarter of the year, a 1% decrease compared to the January to March period last year.

However, the company enjoyed continued broadband growth in this quarter, with 766,000 total broadband connections as of the end of March, an increase of 9%.

As well as 18,000 new broadband connections in the quarter, eircom experienced a strong high speed fibre uptake from customers - up from 40,000 to 242,000.

The network has now passed 1.2 million homes and businesses, representing more than 50% of all premises in Ireland.

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The group said 22% of its customers now have TV/mobile bundles. In addition, it said it now has 37,000 television customers.

Commenting on today’s announcement, Richard Moat, CEO of eircom Group, said: “The financial performance of the group in the third quarter is highly encouraging – the business is nearing an inflection point with fixed line revenues flattening year on year and mobile performance strengthening.”

Moat believes that leveraging eircom’s unique quad play capability allows them to continue to offer customers the most compelling bundles in the market at competitive prices.

“The rollout of fibre to the home (FTTH) technology that will deliver the fastest broadband in the country with speeds of up to 1Gb per second is also underway and will be available commercially from the end of the summer.”

“Our multi-year network investment programme and ensuing fibre footprint provide the foundations to sustain our position as the leading Irish telecommunications provider in the digital economy.”

The company also said it was appointing Huib Costermans as its new Chief Financial Officer and Erik Slooten as Chief Information Officer. Both will take up their roles in August.

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