Eir’s annual revenue up €1m in 2022

Q4 operating costs were 6% lower than in the same period in 2021

Trade

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Eir’s full year revenue rose by €1 million between 2021 and 2022, rising to €1.244 billion, according to its latest financial report.

The telecommunications company said it delivered solid financial and operational results in line with expectations for the fourth quarter to 31 December 2022. 

It said its revenue reached €344 million in the fourth quarter, an increase of €17 million (5%) year-on-year.  The company said revenue growth in postpay, NBP access and bundling, as well as the addition of revenues from Evros was offset by reductions in traditional access, content, and other mobile revenue.  

Operating costs were 6% lower than in the same period in 2021, while non-pay costs and pay costs decreased by €2 million (4%) and €4 million (8%) respectfully.

The total eir fibre broadband customer base increased by 2% year-on-year to 844,000, and the eir postpay mobile base increased by 10% to 982,000 customers. Multi-play bundling accounted for 45% of eir fixed households, up 5% year-on-year.

Meanwhile, its broadband base totalled 953,000 customers at quarter end, decreasing by 1% or 10,000 year-on-year driven by a decline in wholesale customers of 15,000 (3%). Customers using fibre broadband services totalled 844,000 at quarter end, representing a year-on-year 2% increase (18,000 customers).

Currently 89% of its broadband base is connected to eir’s fibre network, which represents a 42% penetration of total premises passed with eir fibre broadband. 

At the end of Q4, its mobile base stood at 1.3 million customers, which is an increase of 92,000 customers (8%) from 2021’s figures. Its postpay base increased by 10% or 91,000 subscribers year-on-year. Postpay subscribers represent 75% of the total mobile base.

“At year end, more than two million premises had been  passed by Ireland’s largest fibre network and more than 987,000 had been passed by the rollout of eir’s  Gigabit fibre-to-the-home (FTTH) network,” said Oliver Loomes, eir CEO. “However, as of February 2023, premises passed by our Gigabit  FTTH network had exceeded one million. This Gigabit fibre broadband network now gives at least 2.3 million people access to secure, high-speed internet, fundamentally changing the way we work and live.  

“Through more than 50,000 kilometres of fibre, connecting over 800 villages, towns and cities across the island, this network continues to expand each day to bring high-speed internet to an ever-greater number of  communities. When completed, it will reach 1.9 million homes and businesses, covering 84% of premises in Ireland. 

“The pace of our FTTH network roll-out has been truly extraordinary and we are now passing a record 250,000 premises a year with this revolutionary infrastructure. None of this would be possible without the tireless work of our fibre build team, working every day to connect for a better Ireland.”

Stephen Tighe, eir CFO, added: “With 1.9m premises expected to be passed with FTTH broadband by end of 2026, together with our rapid  expansion in 5G network coverage, through this large-scale investment, we are well-positioned to expand our  customer base through the offering of high quality, high value products over the coming years.” 

TechCentral Reporters

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