Eircom suffers 9% fall in revenue in Q1 (Ireland)

www.WirelessFederation.com/news: 9% year-on-year fall in the turnover of Irish former monopoly fixed line operator Eircom has been recorded for the nine months ended March 31, 2010 because of intense competition in the country and the impact of economic recession.

From EUR1.518 billion a year ago, the consolidated revenues dropped to EUR1.388 billion (USD1.707 billion). Mobile revenues from Meteor fell 6% to EUR351 million and EBITDA declined by 3% y-o-y to EUR497 million. CAPEX of the company was EUR218 million, compared with EUR270 million earlier and net debt was EUR3.3 billion and it had cash balances of EUR265 million.

According to the company, reductions in pay and non-pay costs resulting from cost saving initiatives introduced during the year and lower direct cost of sales in line with the reduction in revenue lead to the loss.