Profit rises at Three Ireland as customer numbers build

Profit at Three Ireland climbed during the first half of 2026, driven by a steady increase in customer numbers and improved financial performance. The company reported a 5 per cent rise in earnings before interest, tax, depreciation and amortisation (Ebitda) to €88 million, while underlying earnings before interest and tax grew by 13 per cent to €18 million. Revenue for the period reached €314 million, up 2 per cent from the previous year. Customer numbers at Three Ireland expanded by 6 per cent year on year, reaching a total of 5.6 million. This represents nearly half of the mobile subscription market in Ireland. Among these, contract customers saw an 8 per cent increase, totaling 4.7 million. According to ComReg’s latest quarterly report, Three holds a 49.4 per cent market share, surpassing rivals Vodafone at 26.6 per cent and Eir at 14.6 per cent. The company has maintained this leading position through consistent growth, while Eir has remained relatively stable. These figures include mobile broadband subscribers and machine-to-machine connections, which link devices such as smart meters to the network. Churn rates slightly increased to 0.9 per cent in the first half of 2026, compared to 0.4 per cent a year earlier. Despite this, the company attributed its customer growth to ongoing network expansion. Three Ireland now offers 5G coverage to 97 per cent of the population, with 4G coverage reaching 99.4 per cent. Since acquiring O2 Ireland in 2014, the company has invested €2 billion in its mobile network. Recent investments included a €1.2 million programme to enhance 4G and 5G access at key locations such as Croke Park, Aviva Stadium, 3Arena, Dublin Airport and Dundrum Town Centre. The company's profitability improved as it tightened cost controls. Average revenue per active user declined by 6 per cent compared to 2025, with contract users contributing an average of €7.19 and non-contract users paying €14.70. The blended average revenue per active user stood at €8.35. Chief Executive Elaine Carey, who assumed leadership of the Irish operations last year after serving under Robert Finnegan, expressed satisfaction with the customer growth. She highlighted the trust consumers place in the company and noted efforts to expand 5G coverage, upgrade infrastructure and combat fraudulent calls. Carey emphasized that the company’s focus remains on providing reliable connectivity and quality service. “We’ve continued to invest in the network and services that keep people connected,” she said. “Expanding 5G coverage, upgrading infrastructure across the country and helping to protect customers from scam and fraud calls are priorities.” The company employs over 1,200 staff across corporate offices and retail locations. Looking forward, Three Ireland plans to maintain its momentum by continuing to deliver on customer expectations. With a strong market position and ongoing investment in technology, the company aims to sustain its growth trajectory throughout the remainder of 2026.