Dublin and Cork airport operator daa recorded increased profits and revenue last year, as passenger numbers continued to grow.
Revenue jumped 9% when compared to 2023 to €1.1 billion, while profits after tax before exceptions increased by 35% to €236 million.
According to daa’s financial results, earnings before interest, taxes, depreciation and amortisation (Ebitda) increased by 20% to €395 million.
Due to its strong financial performance, the company said it will pay a dividend of €68 million to the Irish state, up almost 120% on the €31 million paid out the previous year.
Passenger numbers at Dublin Airport hit 34.6 million in 2024, up 3.3% on the previous year.
Meanwhile, Cork Airport recorded its busiest year for international passenger traffic in its 63-year history, with over 3 million people travelling through.
“The overall increase in passenger numbers in 2024 drove a significant improvement in turnover, EBITDA and profit after tax, when compared with 2023,” said Peter Dunne, Group Chief Financial Officer at daa.
“Looking forward to 2025, we anticipate continuing strong passenger flows and activity levels across our business which will support the increased level of operational expenditure and capital investment required to enhance the product for the travelling public and the airlines that use our facilities,” he added.
Kenny Jacobs, Chief Executive Officer of daa said he is pleased with the progress made across both airports.
“As we look to 2025 and beyond it is clear that international connectivity has never been more critical as tariff, cost, economic and slow planning headwinds threaten Irish tourism and exports,” he said.
“Though the courts have put a temporary pause on the passenger cap, continuing uncertainty has resulted in Ireland being the only top-20 European country whose air travel showed a decline in scheduled capacity in the first quarter of 2025.
“While we are encouraged that Government is saying they are determined to act with urgency, the risk to jobs, tourism and the economy remain while we cannot get on and build,” he added.
Basil Geoghegan, Chair of the daa said Dublin Airport operates under a “complicated, burdensome, and slow planning system.”
“Despite passenger demand and stated Government policy, our ability to invest and provide vital connectivity is severely hampered,” he said.
“The current and most immediate restriction is the outdated 32 million terminal passenger cap which dates from 2007.
“It was originally based on long ago alleviated concerns about local traffic infrastructure, a matter over which daa has no control,” he added.
