Eircom has trademarked a distinctive symbol incorporating the word "Eir"and has also registered several associated trading names, as the company yesterday confirmed it is planning to rebrand its services.
The company on Tuesday reported a strong set of full-year results, with a 3 per cent rise in earnings and a return to quarterly revenue growth for the first time in seven years.
The return to topline expansion, together with the rebranding, will boost speculation that its lender-owners are once again contemplating an exit from their investment, although management stressed there are no immediate plans to reprise last year’s flotation plan.
Its chief executive, Richard Moat, who celebrated three years with the company on Tuesday, said the "imminent" name change was part of a plan to reposition Eircom's offering as "more contemporary".
“It will show that the company’s services are a big part of Ireland’s digital future, while retaining links with the past,” he said.
The Eir symbol was trademarked in April, along with “Myeir” the following month, although it is thought that the latter is not a new parent brand for its servcies.
As revealed in The Irish Times in recent days, the company has also registered several trading names in recent weeks, including Eirmobile, Eirbusiness, Eirstore and Eirnetworks, suggesting Eir may be incorporated into a parent brand.
Meteor, its mobile division, will not be part of the rebrand.
Meanwhile, Eircom has reported that turnover grew by 5 per cent to €325 million in the fourth quarter, giving managent a much-craved topline growth story, the absence of which was seen as a contributory factor in the scuppering of its flotation plan last year.
Full-year revenues were flat however at €1.26 billion. The group announced full-year ebitda (earnings before interest, taxes, depreciation, and amortisation) of €481 million up 3 per cent on the same period in 2014.
Full-year operating costs declined 7 per cent oto €51 million with fourth quarter costs falling 5 per cent.
“[The revenue growth] is the result of implementing a consistent strategy over the past three years centred on network investment,” said Mr Moat. The company has invested more than €1 billion in its network in recent years.
“[THIS] has provided much improved product capability and compelling propositions to all our customer segments. 25 per cent of customers now avail of our TV or mobile bundles and we remain the only operator in the market to offer a quad play of services,” said Mr Moat.
Eircom said broadband subscribers rose 9 per cent on an annual basis to 782,000 connections with strong high-speed fibre uptake in the year that rose 148,000 to 281,000 connections.
The group’s mobile subscriber base also increased, rising by 28,000 to 1.8 million. In the mobile segment, ebitda for the quarter was up 67 per cent to €22 million and up 62 per cent on an annual basis to €58 million
