Revenue at telecoms company Eir rose in the first half of the year as the company continued to see steady growth in its business.
Eir said it added new broadband and mobile customers in the period from April to June, building on momentum in the early months of the year.
Revenue for the first half of 2024 was €631 million, a rise of 1 per cent year on year. However, the group noted growth in post pay mobile and access revenue for the national Broadband Plan was partly offset by falling voice traffic revenue.
Fixed line revenue was also lower, at €465 million, but mobile revenue rose 9 per cent to €184 million, with Eir’s total mobile customer base at 1.475 million at the end of June.
Earnings before interest, tax, depreciation and amortisation (ebitda) was up 4 per cent to €314 million, offset by growth in operating costs of 6 per cent.
Second quarter results were in line with expectations, the telecoms company said, with revenue up 1 per cent to €320 million, and ebitda growing 3 per cent year on year to €149 million.
Operating costs also rose, gaining 4 per cent over the year to €103 million. Cash on the company’s balance sheet stood at €347 million by the end of the quarter.
Over the period, the company added 3 per cent to its fibre broadband customer base, with Eir now passing 1.2 million premises with fibre to the home.
The TV service has also seen an increase in customers, signing up an additional 19,000 customers to bring it to 110,000.
“Eir has had a steady start to the year growing revenue and customer numbers in a solid second quarter as a direct result of our commitment to investing in and expanding Ireland’s leading fibre and mobile networks,” said chief executive Oliver Loomes.
“A dynamic telecommunications infrastructure is crucial for Ireland’s transformation into a technologically advanced and interconnected society.”
Mr Loomes said the company was continuing to invest in its network at a rate of €250 million per annum, and by the end of 2026, it expected to extend its Gigabit broadband network to 1.9 million premises.
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