Eir (Most Preferred) Q4 24: A good EBITDAaL growth quarter and solid guidance
Eir has reported a solid set of Q4 numbers, with underlying SR trends slightly better at +0.8% y/y from 0% y/y in Q3, and EBITDAaL growth much better at +5.9% y/y from +0.7% y/y in Q3. New 2025 guidance is a touch ahead of us at the FCF level. We continue to think that although the Eir spreads are quite tight, they could be tighter still given the outlook (asset cover) and leverage (possible rating upgrade to come?).
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
- Global healthcare thematic research
We provide debt research on:
- Pan European Telecom Services and Cable
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