{"id":224708,"date":"2026-01-03T05:43:15","date_gmt":"2026-01-03T05:43:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/224708\/"},"modified":"2026-01-03T05:43:15","modified_gmt":"2026-01-03T05:43:15","slug":"mobile-phone-operator-three-ireland-loses-e31m-in-2024-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/224708\/","title":{"rendered":"Mobile phone operator Three Ireland loses \u20ac31m in 2024 \u2013 The Irish Times"},"content":{"rendered":"<p class=\"c-paragraph paywall \">High interest rates and restructuring costs left mobile network business <a href=\"https:\/\/www.irishtimes.com\/tags\/three-ireland\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.irishtimes.com\/tags\/three-ireland\/\">Three Ireland<\/a> (Hutchison) Ltd with a \u20ac31 million loss in 2024, new figures show.<\/p>\n<p class=\"c-paragraph paywall \">The company, owned by Hong Kong-based, Cayman Islands-registered multinational CK Hutchison Holdings, operates Three Ireland, one of the Republic\u2019s leading mobile phone networks.<\/p>\n<p class=\"c-paragraph paywall \">Accounts recently filed for 2024 show that it lost \u20ac31.2 million that year, improving on a \u20ac36.2 million shortfall in 2023.<\/p>\n<p class=\"c-paragraph paywall \">The Irish business paid a \u20ac42 million dividend to immediate parent Hutchison Europe Holdings Telecommunications, according to directors Frank Sixt and Robert Finnegan.<\/p>\n<p class=\"c-paragraph paywall \">The figures show revenue grew almost 2.5 per cent to \u20ac630.4 million in 2024 from \u20ac613.2 million the previous year. Operating profit rose 50 per cent to \u20ac36 million from \u20ac24 million over the same period.<\/p>\n<p class=\"c-paragraph paywall \">An interest bill of more than \u20ac76 million left the company with a pretax loss of \u20ac38.5 million, but a \u20ac7.3 million tax credit cut this deficit.<\/p>\n<p class=\"c-paragraph paywall \">One-off restructuring and inflation increased costs to \u20ac421 million from \u20ac414 million, according to Mr Sixt\u2019s and Mr Finnegan\u2019s report.<\/p>\n<p class=\"c-paragraph paywall \">The accounts show it paid \u20ac9.5 million severance during the year. Staff numbers fell to 1,199 from 1,353 in 2023.<\/p>\n<p class=\"c-paragraph paywall \">Excluding the severance bill, Three\u2019s wages, social insurance and pension costs fell to \u20ac101.8 million from \u20ac105.7 million.<\/p>\n<p class=\"c-paragraph paywall \">Higher rates and an adjustment stemming from the sale of assets resulted in 2024\u2019s interest bill of \u20ac76 million, up from \u20ac60 million the previous year, the report adds.<\/p>\n<p class=\"c-paragraph paywall \">A capital restructuring wiped out intercompany borrowing, boosting net assets at the end of 2024 to \u20ac1.36 billion from \u20ac508 million 12 months earlier, the directors note.<\/p>\n<p class=\"c-paragraph paywall \">They expected revenue and margins to continue growing through 2025 while the repayment of intercompany debts should cut interest costs.<\/p>\n<p class=\"c-paragraph paywall \">\u201cDuring the year the company continued its roll out of 5G equipment,\u201d they say. \u201cBy year end, 1,497 sites (2023: 1,284) had been upgraded.\u201d<\/p>\n<p class=\"c-paragraph paywall \">\u201c5G\u201d is industry jargon for fifth generation, the latest version of mobile technology.<\/p>\n<p class=\"c-paragraph paywall \">In June 2025, Three Ireland appointed Elaine Carey as chief executive, promoting her from chief commercial officer. Her predecessor, Mr Finnegan, became deputy chairman of CK Hutchison Group Telecom Holdings Ltd.<\/p>\n<p class=\"c-paragraph paywall \">Directors say they continued to monitor energy costs and inflation through 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"High interest rates and restructuring costs left mobile network business Three Ireland (Hutchison) Ltd with a \u20ac31 million&hellip;\n","protected":false},"author":2,"featured_media":224709,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,61,60,54317],"class_list":["post-224708","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ie","tag-ireland","tag-three-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/224708","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=224708"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/224708\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/224709"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=224708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=224708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=224708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}