Bord na Móna confident despite fall in turnover

BORD na Móna remains confident of boosting turnover to around €800 million over the next four to five years, despite seeing a 4% decline to €384m in its last financial year.

The state-backed energy company said the 12 months to the end of March was a challenging period and was impacted by adverse weather, making maintaining profitability “a significant achievement”.

Turnover fell from €401.5m to €384m, with pre-tax profit down by nearly €7m to €12.9m. However, crucially EBITDA (earnings before interest, tax, depreciation and amortisation), the basis for the company’s borrowing covenants, jumped from €57.2m to €64.6m.