eBay’s pre-tax Irish profits rise to €5m

John Donahoe,  CEO of eBay. Irish revenue is  up 26%.  Picture: AP

Pre-tax profits at the main Irish unit of online giant eBay increased by 4% to €5m last year, new figures show.

According to accounts just filed with the Companies Office, eBay Europe Services Ltd recorded the increase in pre-tax profits after revenues increased by 26% from €36.7m to €46.3m in the 12 months to the end of Dec 2012.

The average number of workers employed by the company increased from 562 to 600 last year and its principal activity is providing customer support services, corporate administration services, and other services on behalf of the eBay group.

According to the directors’ report “the business has performed broadly in line with expectations for the year”.

“The number of employees increased as planned as a result of a further expansion of European customer support activities in the company.”

The directors reveal that the company submitted further feasibility applications to the IDA, seeking grant aid towards the cost of developing a Centre of Excellence and Innovation in Dublin.

They state: “These were accepted by the IDA and a claim was submitted.”

In relation to future developments, the directors state that the Centre of Excellence and Innovation will continue to deliver innovative projects and research initiatives associated with improving customer experience in the business.

The centre will develop and provide innovative products/services, processes, skills and training to the eBay EMEA group as well as to worldwide customers.

The figures also show that the company had shareholder funds totalling €34.1m. The company recorded a 6% increase in operating profits, meanwhile, from €3.7m to €3.96m.

The company’s largest cost relates to staff and last year this increased by 25% from €34.9m.

The latest accounts also show that 554 of the company’s employees were engaged in sales and marketing, with 35 in administration.

Remuneration to directors increased from €208,000 to €272,000. The profit last year takes account of non-cash depreciation costs of €2.3m.


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