Eir revenue rises for 2023 but higher costs hit earnings

Revenue at telecoms company Eir rose 4 per cent last year, the company said, nearing €1.3 billion as broadband and postpay mobile customers grew.

Eir said the figures were lifted by a strong fourth quarter, which was marked by revenue growth of 3 per cent compared to the same period in 2022.

But the year’s earnings before interest, tax, depreciation and amortisation fell 3 per cent to €591 million as costs rose 3 per cent to €399 million. The increase in costs was more marked in the final quarter, rising 8 per cent as non-pay costs including accommodation increased.

Its fibre broadband customer base rose 3 per cent to 869,000, with its postpay customer base rising 12 per cent year on year to more than 1.1 million. In total, Eir has more than 1.4 million mobile customers, an 8 per cent increase, with 77 per cent of those paying subscriptions each month and the remainder on prepay.

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Chief financial officer Stephen Tighe said the performance was in line with expectations.

“We saw growth across the eir fibre broadband base and in total mobile customers, with a further increase seen in the multiplay bundling of Eir fixed households,” he said. “Our solid commercial momentum is now delivering organic revenue growth on a consistent basis.”

Revenue was up across both fixed and mobile businesses for the year.

Chief executive Oliver Loomes said 2023 marked a year of “significant achievements” across Eir’s operations, including reaching a milestone in its broadband business and extending the rollout of 5G in its mobile division to a further 600 sites.

“Looking forward, Eir remains dedicated to its role as the leading telecommunications investor in Ireland. We are steadfast in our ambitious endeavours to further develop and expand our infrastructure,” he said. “Our goal is clear: to position Ireland among the top-tier of globally connected countries.”

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