In the first six months, Eir, a telecommunications company, reported rising revenues, indicating ongoing growth in the firm’s operations. From April to June, the company managed to acquire new customers in the sphere of broadband and mobile services, building on the positive momentum it achieved at the start of the year.
Eir’s first half earnings for the year 2024 was recorded at €631 million, exhibiting an annual increase of 1 per cent. Nonetheless, the firm highlighted the growth in postpaid mobile and national Broadband Plan access revenue was partially balanced out by a decline in voice traffic revenue.
With regards to fixed line, the earnings were somewhat lower, at €465 million, but mobile earnings saw a 9% rise to €184 million. By the end of June, Eir’s total mobile customer base had reached 1.475 million.
Earnings before interest, tax, depreciation and amortisation (ebitda) saw a 4 per cent increase to €314 million, although it was balanced by operating cost growth of 6 per cent. The second quarter results were as expected, with revenues growing 1 per cent to €320 million, and a 3 per cent annual ebitda growth to €149 million.
The total operating costs rose 4 per cent over the year to €103 million, while cash reserves came in at €347 million at the end of the quarter. Over the duration, the firm increased its fibre broadband customer base by 3 per cent, with Eir now offering fibre to the home to over 1.2 million premises.
The TV service also recorded a growth in subscriptions, increasing by an additional 19,000 customers, reaching a total of 110,000. Owing to its commitment to invest and expand Ireland’s principal fibre and mobile networks, Eir made a solid progress in the second quarter, witnessed by increment in revenue and subscriber numbers, stated CEO Oliver Loomes.
Loomes reaffirmed that a dynamic telecoms infrastructure is vital for Ireland’s transformation into a technologically advanced and interconnected society. He also revealed that the enterprise intends to continue its network investments, at a rate of €250 million annually. It is anticipated that by the end of the year 2026, Eir would extend its Gigabit broadband network to serve 1.9 million premises.