Eircom's third quarter earnings flat at €119m

Wednesday 28 May 2014 08.13
Eircom's revenue for the three month period to the end of March was down around 5% to €315m
Eircom's revenue for the three month period to the end of March was down around 5% to €315m

Eircom has reported a continued stabilisation of its finances in its third financial quarter.

The company said its earnings before interest, tax and depreciation came in at €119m - flat on the previous year. 

Revenue for the three month period was down around 5% to €315m and the company said it spent around €10m on repairs after the damage of the "unprecedented winter storms".  

Eircom said its retail customers base stood at 1,931,000 at the end of March. This includes 1,072,000 mobile customers. It said its total customer base - including wholesale customers - stood at 2,408,000.

Its total broadband customer base stood at 704,00 by the end of March, an increase of 8,000 in the quarter and 41,000 in the 12 months to March, which was mainly driven by its wholesale business. 

In its mobile business, Eircom said its customer numbers rose by 6,000 to 1,072,000. It noted 59,000 net additions in the higher value postpaid segment and this segment now accounts for 39% of its overall base, up from 31% the same time last year. 

Eircom chief executive Herb Hribar said the company's investment programme continues, and by the end of March, the company's fibre footprint had passed 800,000 homes and businesses. 

"We are on track to pass 1,000,000 premises during summer 2014 and 1,400,000 premises by 2016, which will provide 70% of all homes and businesses in Ireland access to high speed broadband," Mr Hribar said.

He also said the company's 4G rollout is ahead of schedule and now covers 50% of the country's population. 

Eircom also said in its trading update today that it is exploring a number of strategic options with a view to further strengthening the financial position of the company.