Revenue dips at Eir as exceptional charges hit profits

• Published date: 21 March 2023

Revenue for 2022 was €1.23 billion, down €2 million year on year, while adjusted earnings before interest, tax, depreciation and amortisation (ebitda) was €652 million, representing a €10 million decline. Amortisation charges rose 13 per cent, or €5 million, to €43 million as a result of the acquisition of Evros Technology Group in the prior year

Pretax profits were €63 million for the year, down from €351 million a year earlier as exceptional items primarily relating to the sale of the fibre business and assets to the group's subsidiary with InfraVia, Fibre Networks Ireland Limited, resulted in a charge of €208 million. Some €25 million of that charge is related to restructuring programme costs, €5 million for group reorganisation costs and €1 million for Covid-19 related costs.

Eir said the results were in line with expectations.

The company said its fixed-line division, which includes broadband, voice and data services for consumers, business users and wholesale customers, was largely stable in terms of revenue for the year. It contributed 74 per cent of revenue before inter-segment eliminations for 2022, driven by a 14 per cent increase in other products and services revenue, a 3 per cent increase in voice traffic revenue, offset by a 10 per cent decrease in access revenue.

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