Profit at medical product manufacturing firm Hollister dips

US medtech manufacturer employs near 1,000 people at its base in Ballina, Co Mayo

In July this year, Hollister announced that is investing €80m and creating 50 new jobs at its Ballina facility.

Pre-tax profits at one of the largest and longest established US multi-national firms based in the west of Ireland, Hollister, dipped marginally to €22.2m last year.

Consolidated accounts filed by medical device manufacturer Hollister ULC show the group recorded a slight decrease in profits as revenues increased from €330.4m to €331.9m. The pre-tax profits of €22.2m last year follow pre-tax profits of €22.4m in 2023.

Hollister is a global leader in ostomy, continence, wound care, and critical care products and its Irish base is located in Ballina, Co Mayo.

In July of this year, Hollister announced an €80m R&D investment and a digital transformation project that will create an additional 50 jobs in Ballina.

The US medtech manufacturer will next year celebrate 50 years of operating in Ballina, where second and third generations of families are employed at the plant.

The company now employs almost 1,000 people at its Ballina base and the global continence care R&D team is based in Ireland.

The members of Hollister UC are Hollister Manufacturing, Hollister Limited, Hollister Capital Limited, Hollister Finance, and Hollister International Finance Ltd.

The accounts show the average number of group employees during 2024 totalled 1,551. A breakdown of employees show that 973 were employed in production and distribution, 502 in administration, and 76 in management.

Staff costs last year increased from €90.65m to €98.63m.

Aggregate emoluments paid to 24 key management personnel totalled €6.38m,  or an average of €266,102 to the company executives.

Key management personnel also benefited from €738,723 in pension contributions.

The group’s activities consist of the manufacture of disposable medical devices under the general description of ostomy care products and VaPro intermittent catheters.

They state the outlook for 2025 is for continued growth in both Ostomy and VaPro businesses and this will arise from new product introductions and product launches.

The profit last year takes account of non-cash depreciation costs of €27.59m, a foreign exchange gain of €3.46m and a R&D credit of €2m.

The group recorded post tax profits of €21.44m after taking into account a corporation tax charge of €819,379.

At the end of December last, shareholder funds totalled €266.38m that included accumulated profits of €249.43m.