Telecoms company eir has warned that its earnings for 2023 will be lower than the previous year.
In a trading update, the firm said there would be a "low single digit decrease" in its earnings before interest, tax, depreciation and amortisation for the fiscal year 2023.
However, it said the business generated strong organic cashflow and capital spend was between 21% and 23% of revenue.
In its fixed line business, the telco said it increased fibre broadband customers by 57,000, compared to increase of 45,000 the previous year.
Broadband customers rose by 20,000, compared to an increase of 8,400 a year earlier, while the number of eir TV customers grew by 16,000, compared to an increase of 2,800 in fiscal year 2022.
On the mobile side of the business, customers rose by 97,000, compared to an increase of 75,000 the previous year.
It added that the fixed percentage in contract was 72%, compared to an in contract rate of 66% during the last accounting period.
The update came as the company said it had successful syndicated a new €200 million term loan facility availed by eircom Finco S.à r.l.
It said the proceeds from the drawing under the new facility would be used to partially refinance the existing 1.75% Senior Secured Notes which are due in November.
