Eircom today reported earnings were down 4% at €333 million while revenue was relatively unchanged at €1 billion in the six-month financial period ended 31 December 2008. The former State-telco has written down  goodwill by €720 million - - reflecting a plunge in the value of €2.36 billion three years ago, when the firm was bought by a fund managed by Australian investment bank Babcock & Brown.

The defined benefit pension scheme has fallen to a deficit of €433 million, from a surplus of €20 million at 30 June 2008 and a surplus of €422m at 30 June 2007, reflecting the sharp declines in stock markets.

In the fixed line segment, the group added 46,000 DSL broadband customers during the first six months of the financial year, down 42% on the prior period. During the period Eircom lost 41,000 Retail telephone customers, compared with 8,000 in the corresponding period last year.

Meteor mobile revenues, before intra-company eliminations, were €255 million in the half year, up 7% on the corresponding period. EBITDA was up 6% to €57 million. Although mobile subscriber growth was down 44% year on year at 49,000 in the period, Eircom says the continued increases in"market share reflect the compelling value to customers of Meteor’s products and services."

Cash capital expenditure for the first six months of the year was €197 million, reflecting our commitment to investing in advanced telecoms services for Ireland. Eircom has invested approximately €900 million in capex in the past two and a half years.

Eircom also announced the appointment of Cathal Magee, Managing Director of Eircom Retail as Acting CEO with immediate effect. Magee replaces Rex Comb, who is returning to Australia. The Board has a search process underway to fill the role of Chief Executive on a permanent basis.

Former Dell executive Nicky Hartery, has been appointed as non-executive director to the Eircom Board.