The company’s profits increased as revenues rose by 5pc from €101.4m to €106.26m, Dublin Port Company’s 2024 annual report shows.
Total operating costs outpaced the increase in revenues, rising by 7.6pc to €67.5m.
The rise in revenues was despite the closure of Boliden Tara Mines for most of 2024, which hit volumes at the port.
In his report, Dublin Port chief executive Barry O’Connell says that the increase in revenues “was largely driven by price increases and increased activity levels in towage and pilotage services offsetting reduced volumes”.
Mr O’Connell says port throughput in 2024 finished at 35.2 million tonnes, representing a decrease of 1.2pc on the previous year.
Exports fell by 4.7pc in the year to 13.3 million tonnes, while imports increased by 1pc to 21.9 million tonnes, and the total throughput “was lower than budgeted throughput of 36.6 million tonnes”.
Mr O’Connell says the key reasons for this reduction in volumes was the cessation of iron ore shipments due to the temporary closure of Boliden Tara Mines, as well as the cessation of bottom-ash exports by the Encyclis incinerator and disruption to cement production.
The level of exports of contaminated soil in 2023 was not replicated in 2024.
Tourist traffic also fell in 2024, with passengers and tourist vehicles down 6pc and 7.7pc respectively.
“Approximately 60pc of the decline was due to the closure of Holyhead in December which saw tourist passengers and vehicles down over 60pc,” Mr O’Connell said.
The pre-tax profit takes account of interest costs of €2.83m and a €850,000 property writedown.
The company more than doubled its dividend payout last year from €2.25m to €5.9m.
The remuneration for Mr O’Connell remained at €263,000, made up of salary of €210,000 and €53,000 in “other benefits including pension costs and taxable benefits”.
Three staff members earned more than €200,000 with seven earning between €150,000 and €200,000 and a further 50 earning between €100,000 and €150,000.
Numbers employed increased from 150 to 155, and staff costs rose from €16.48m to €17.1m.
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