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Eircom A-Z

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  • 30-07-2004 1:33am
    #1
    ganam
    Closed Accounts Posts: 20 ✭


    As a pubic company registered for business in the US, Eircom is obliged to make an annual filing to the Securities and Exchange Commission.

    They have just filed this week and the link below will take you to the document. It's big (PDF 1.7m) and long (440 pages).

    Besides all the accounts info (tons of detail) the document includes a 'state of play' as Eircom sees it. Pages 13 to 22 are well worth reading closely.

    It's been a while since there was access to this kind of info.

    http://investorrelations.eircom.net/pdf/eircom_form20f_2004_print.pdf


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    #2
    dahamsta
    Banned (with Prison Access) Posts: 16,659 ✭✭✭✭dahamsta


    We have a significant amount of indebtedness, which may impair our operating and financial flexibility and could adversely affect our business and financial position and our ability to pay dividends
    Didn't stop them eroding their position still further by stripping €500m out of the company last year, money that would have been much better invested in the network. Surely "Sir" Tony and "Liberal" Soros are in it for the long run? :rolleyes:
    The Government of Ireland may use its position as a customer in the Irish fixed-line telecommunications market to promote competition in the market in a manner that is unfavourable to us
    They bloody well better had.
    It may not be possible to effect service of process upon us or enforce court judgements against us or our Directors
    Anyone care to explain this? I think I know what it means, but I don't understand why Eircom would be saying it?
    It is possible that ComReg will introduce additional constraints on future line rental price increases.
    See my response to the second quote.
    It is possible that we will be required to offer [LLU] to our competitors at prices which we do not believe reflect the costs we incur in providing them.
    Bullshít.
    There is a statutory provision that permits ComReg to establish a fund that would allow us to recover part of the costs of meeting our USO if ComReg determines that the net cost of meeting our USO is an unfair burden on us. We intend to seek the establishment of such a fund in the current year.
    Interesting. How is the fund, um, funded?
    If we are found to be in violation of applicable laws and regulations, we may become subject to substantial criminal and civil penalties and fines.
    How awful! Aren't those laws and regulations terrible!?

    adam


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    #3
    Ronan|Raven
    Registered Users Posts: 8,146 ✭✭✭Ronan|Raven


    It is possible that ComReg will introduce additional constraints on future line rental price increases

    One would bloody well hope so. It is bad enough we have to pay the current line rental prices but if they wish to increase them again and leave us still with the sub par network we already have serious questions need to be asked.


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    #4
    Ripwave
    Closed Accounts Posts: 2,188 ✭✭✭Ripwave


    The Government of Ireland may use its position as a customer in the Irish fixed-line telecommunications market to promote competition in the market in a manner that is unfavourable to us
    The Government of Ireland pays for about 300,000 phone lines (people in receipt of the Telephone allowance). God knows how many more lines it pays for for "official use".

    There's a total of 1.7 million phone lines in Ireland.

    The Governments "position as a customer" has been much the same as everyone else - just bend over and take it. It'd be nice to think that that might not always be the case, but I'm not holding my breath!


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    #5
    jwt
    Registered Users Posts: 849 ✭✭✭jwt


    eircom Limited
    Dividend paid and proposed 14 (11) (300) (618)
    (Loss absorbed)/profit retained for the financial year €(269) €20 €(373)

    So basically they posted a loss of 373 million this year but only after they took dividends of 618 million

    A breakdown of the turnover is
    Access (rental and connections) 489 million
    Voice traffic 596 million (that includes analog modems)
    other 543 million
    total 1,628 million

    so between line rent, connections and voice calls you have two thirds of eircoms income! And people wonder why they dont want to roll out broadband? :o

    Can you imagine what third party broadband and VoIP would do to them......:D


    John


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    #6
    Our man in Havana
    Closed Accounts Posts: 29,476 ✭✭✭✭Our man in Havana


    Quote:
    It may not be possible to effect service of process upon us or enforce court judgements against us or our Directors

    Anyone care to explain this? I think I know what it means, but I don't understand why Eircom would be saying it?


    I would like an explanation of this also!


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    #7
    kittex
    Registered Users Posts: 686 ✭✭✭kittex


    Plain English Campaign anyone?


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    #8
    Our man in Havana
    Closed Accounts Posts: 29,476 ✭✭✭✭Our man in Havana


    Are Eircom now saying that they are beyond the law?


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    #9
    Mr_Man
    Registered Users Posts: 638 ✭✭✭Mr_Man


    Eircom are saying that because they are not actually doing business in the U.S. and probably have no legal entity there, that it would be difficult for investors to sue them in the States.

    M.


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    #10
    Our man in Havana
    Closed Accounts Posts: 29,476 ✭✭✭✭Our man in Havana


    Ah thanks for clearing that up. It now makes sense.


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