Zimmer Worldwide generated 70% of its global revenues from making artificial knees and hips last year.
The firm’s Irish unit, based in Shannon, Co Clare, specialises in constructing artificial knees.
Zimmer Orthopedics Manufacturing Ltd commenced operations here in 2009 and has grown the number of employees at its base in the Shannon Free Zone to more than 300.
The increase in profit followed revenues increasing by 5%, from $237.37m to $250.37m (€189m to €199.7m), in the 12 months to the end of December last.
The accounts filed with the Companies Office disclose that the firm paid a dividend of $150m to its parent last year.
The directors’ report in the accounts states that the firm continued to grow its output during 2013: “The facility continues to build its supply chain by delivering products to a number of jurisdictions worldwide.”
The directors state that average headcount rose by 7%, with capital investment increasing by 9%.
According to the directors, Zimmer will continue to increase output and expand its capabilities on the site.
Zimmer designs, develops, manufactures, and markets orthopaedic reconstructive, spinal, and trauma devices, dental implants, and related surgical products.
The profit for 2013 takes account of non-cash depreciation costs of $6.88m.
The Shannon plant manufactures orthopaedic femoral knees and the figures show that staff costs for 2013 increased from $14.68m to $16.2m. The staff costs include remuneration for the firm’s three directors, Adrian Furey, Fiona Sullivan, and Guillaume Genin, which increased last year from $439,254 to $489,751.
The company’s cost of sales last year totalled $51m with the company recording a gross profit of $117.4m. Other operating expenses totalled $79.82m while the firm’s spend on research and development during the year totalled $1m. The firm last year paid tax of $14.6m.
A breakdown of the company’s revenues show that $171.3m was generated in ‘rest of world’ with $79m generated in Europe.
Headquartered in Warsaw, Indiana, Zimmer has operations in more than 25 countries and sells products in more than 100 countries.
Zimmer’s worldwide sales were $4.62bn, last year, and the company employs some 9,000 people around the world.
© Irish Examiner Ltd. All rights reserved