Data centre builder Winthrop Technologies has “an exceptionally strong order book for 2026 and beyond” after pre-tax profits last year rose by 27% to €131m.
New consolidated accounts for the Dublin-headquartered Winthrop Technologies Ltd show the business achieved the sharp increase in profits as revenues rose by 27% from €1.1 billion to €1.4 billion.
The revenue and profit increases are skewed as the prior period was for eight months.
The directors state that the group has “an exceptionally strong order book for 2026 and beyond and retains a strong cash generating capability”.
On the group’s future developments, the directors point to the impact of Artificial Intelligence.
The directors’ report states that the directors look forward to further strong growth in the coming years as a result of the excellence of Winthrop’s delivery to date in the sector “and growing demand in the industry arising from ongoing escalation in cloud-based demands and the emergence of Al-related requirements”.
The group last year recorded post tax profits of €112.3m after incurring a corporation tax charge of €18.69m.
The directors state that they expect to see continued strong growth in future years based on the depth, visibility and quality of pipeline opportunities and the ongoing positive dynamics of the sector.
The business continues to expand across Europe with key strategic clients and now operates in multiple locations throughout Europe and is currently active in eight jurisdictions, they add.
The firm’s website lists data centre projects in Dublin, Frankfurt, Warsaw, Amsterdam along with a number in locations in Finland.
The directors state that the business continues to expand across Europe with key strategic clients and now operates in multiple locations.
They state that earnings before interest tax depreciation and amortisation (EBITDA) increased by 36% or €36.4m from €102.4m to €138.8m in 2025.
The directors state that the increase in EBITDA and pre-tax profits “are a reflection of the ongoing robust profitability of the principal business of the group”.
The group last year paid out a dividend of €927,000 which was a small fraction of the €94.6m dividend paid out in 2024.
In April 2024, the world’s largest alternative asset manager, Blackstone, acquired a 50.7% stake in Winthrop Technologies with the remainder of the shares held between the existing shareholders – founder Barry English; Group CEO Anne Dooley and Managing Director Bernard Keane.
A mechanical engineer, Ms Dooley joined Winthrop Technologies in 1997 during Winthrop’s start-up phase.
Numbers employed by the group last year increased from 692 to 724 as staff costs rose by 57%from €66.26m to €104m.
The profits take account of non-cash depreciation costs of €7.98m.
Pay to directors increased by 21% from €1.96m to €2.38m that included €79,000 in pension contributions.
Key management personnel last year shared €3.03m compared to €2.77m in the prior eight month period.
Shareholder funds last year increased from €199.39m to €310.89m, which included accumulated profits of €271.23m.
Cash funds increased from €119.64m to €210.4m.
Reporting by Gordon Deegan
