Pre-tax profits almost double to €23.12m at Denis O'Brien's Actavo

Fueled by strategic streamlining and cost cuts despite revenue decline.

The group is co-owned between Denis O’Brien and long-time business partner, Leslie Buckley

Pre-tax profits at Denis O’Brien’s engineering services group Actavo almost doubled to €23.12m last year as the directors continued to streamline the business.

New consolidated accounts filed by Actavo Group Ltd show that the group’s pre-tax profits increased by 80% from €12.82m to €23.12m despite revenues declining by 17.5% from €197.1m to €162.6m.

The directors disclose that in a post balance sheet event the group paid out a dividend of €10m.

The €10m dividend payout followed a €10m dividend payout in 2025.

The group is co-owned between Denis O’Brien and long-time business partner, Leslie Buckley and they hold their respective 87% and 13% stakes in Actavo through Isle of Man-registered companies.

The directors also reveal that “the group commenced and completed the sales of the assets of one of its core businesses since the year end as part of ongoing strategy to streamline its business”.

Last year, numbers employed reduced by 254 from 1,612 to 1,358 made up of 1,063 in operations and 274 in general and administration.

Staff costs declined by 23.5% from €91.8m to €70.19m.

The group’ core operating profit last year increased by 65.2% from €13.9m to €22.9m after its gross margin rose from 19.4% to 26.2%.

The directors state that revenues declined 17.5% “as we completed a number of contracts in the prior year and continue to streamline our operations”.

The directors state that they “are pleased with 2025 business performance overall and the stability of all our divisions across the group”.

They state: “In 2025 the group continues to exit underperforming contracts and business units. We are confident of continuing to grow the business into the future.” The accounts show that the group’s Irish business last year accounted for 81% of group revenues at €131.1m compared to Irish revenues accounting for 70.5% at €138.8m in the prior year.

Last year ‘rest of world’ revenues totalled €31.42m compared to €56.22m in the prior year.

The profit last year takes account of non-cash depreciation costs of €2.76m.

Directors’ remuneration last year totalled €1.575m made up of €1.44m in salaries and fees and €135,000 in retirement benefits.

At the end of December last, the group had shareholder funds of €50.6m that included accumulated profits of €33.4m.

The group’s cash last year increased from €45.3m to €50.5m and the directors state that “cash improvement being driven by strong underlying profit generation and working capital unwind on contracts coming to a conclusion”.

The directors state that “the group has no third-party debt, other than the leases on certain right of use assets”.