Revenue at telecommunications provider Three Ireland rose last year, as the company continued to grow its customer base.
Total revenue at the Irish business was €630 million, up 2 per cent year on year, while earnings before interest, tax, depreciation and amortisation (ebitda) was up 13 per cent to €175 million year on year.
Operating costs were higher, growing €2 million over the year.
The company saw its customers base increase last year, with contract customers up 11 per cent on the prior year. Adding 400,000 customers over the year boosted the total number of paying customers to more than 4.9 million.
A large number of those additional customers were down to growth in the Internet of Things (IoT) section, where Three has a 79 per cent share.
What do Donald Trump’s April tariffs mean for Ireland?
Three’s total market share is now more than 48 per cent. More than 80 per cent of Three’s customers are on post-pay contracts. Average blended revenue per active user was €9.21, down more than 10 per cent.
“We’re pleased with Three Ireland’s financial performance for 2024, which showed strong margin growth of 5 per cent to €484 million aligned with good cost control despite inflationary pressures, delivering a positive growth in EBITDA of €20 million from 2023," said Simon Henry, Three Ireland’s chief financial officer of Three Ireland.
The year also saw spending of €95 million in its network and energy saving initiatives, in line with previous years. Three has invested more than €1 billion since 2015 in its Irish network.
