ESB make operating profit of €455m

ESB make operating profit of €455m

The ESB Group made an operating profit last year of €455m.

The profit after exceptional items, interest and tax was €60m.

Its full-year results to the end of 2018 have been published this morning.

They show a total capital investment in critical long term electricity infrastructure of €1.2bn.

Commenting on the results Pat Fenlon, ESB’s Chief Financial Officer said: “In continued challenging market conditions, ESB delivered a satisfactory financial performance in 2018 with profit after exceptional items, interest and tax of €60 million and almost €1.2 billion of energy infrastructure investments.

"ESB continued to focus on delivering long term value and investing in critical long term electricity infrastructure for the benefit of our customers, shareholders and the wider Irish economy.

He added: "ESB’s diversified businesses and solid financial position ensure it is well placed to meet the challenges that lie ahead and remain at the forefront of the energy sector in an all-islands market.”

More on this topic

New wind farm passes ‘hugely important milestone’ as construction beginsNew wind farm passes ‘hugely important milestone’ as construction begins

ESB begins decarbonising yellow van fleet with 70 full electric vehiclesESB begins decarbonising yellow van fleet with 70 full electric vehicles

ESB power plants that are closing should never have been built - An TaisceESB power plants that are closing should never have been built - An Taisce

Kieran Mulvey appointed Just Transition Commissioner for closure of peat-fired power stationsKieran Mulvey appointed Just Transition Commissioner for closure of peat-fired power stations

More in this Section

China welcomes preliminary deal in trade war it blames on USChina welcomes preliminary deal in trade war it blames on US

Irish shares climb as election drives sterlingIrish shares climb as election drives sterling

Profits fall at hotel groupProfits fall at hotel group

Profits rise 35% as gym group Flyefit expandsProfits rise 35% as gym group Flyefit expands


Lifestyle

Want to be cultured this Christmas? From TV to podcasts to books, Ed Power has the definite list of everything you missed this year - so you can curl up on the couch and catch upThe definite list of everything you missed this year

Artist Ciara Rodgers teaches older people how to rediscover their creativity and regain confidence, says Rowena WalshBrush with art: Discovering your creative side in later life

Furniture, paintings, jewellery and silver are on offer at James Adam in Dublin, writes Des O’SullivanAll set for home run: See what's on offer at the James Adam sale in Dublin

It’s not too late to hunt out a unique gift. Des O’Sullivan previews sales in the lead-up to the festive seasonA flurry of auctions in Munster sets the scene for Christmas

More From The Irish Examiner