Coillte has said Storm Éowyn in January caused “unprecedented” levels of damage to its estate at an estimated cost of over €60m.
Of the over 26,000 hectares of Ireland’s forests with windblow damage, 14,500 hectares are managed by Coillte.
Announcing its financial results for 2024, Coiltte said it experienced highly challenging market conditions, impacted by inflationary pressures and lower end-market demand resulting in lower prices.
Revenue fell to €390m, down from €414m in 2023, while operating profit fell to €19m from €61m the previous year.
Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) fell from €106m to €63m.
“2024 was a year focused on optimising financial delivery against the backdrop of challenging market conditions and continuous cost management, and on significantly progressing our forestry strategic vision ambitions to 2050,” said Vivienne Jupp, Chair of Coillte.
“As we entered 2025, we were confronted by the stark reality of the impact of Storm Éowyn. Productive forests, biodiversity areas and recreation trails and parks across the Coillte estate have been extensively impacted,” she added.
