Pre-tax profits at the Irish arm of data centre builder and operator, Equinix last year increased by 5% to €16.23m.
Equinix (Ireland) Ltd operates data centres in Dublin at Northwest Business Park (two), Citywest,Blanchardstown and Kilcarbery Park and globally operates250 data centres in 71 locations.
The company's clients include Oracle, Google Cloud, Dell Technologies, AWS (Amazon WebServices) and CISCO.
New accounts show that Equinix (Ireland) Ltd recorded the increase in profits after revenues rose by 10% from €44.35 million to €48.94 million.
The firm last year paid out a dividend of €15 million and this followed a dividend payout of €50 million in 2021.
The directors for the US headquartered firm state that "demand for Equinix Ireland’s premium data centre capacity remained solid".
The directors state that the market continues to show strong growth and the growth is driven by increasing Internet traffic; rises in requirements for power and cooling; the expansion of computing requirement of the financial services industry and the emergence of Cloud computing and software as a service.
The directors state that the market continues to grow "despite the high capital costs associated with building and maintaining its sourced data centres".
The directors state that "the company is benefiting from a growth in demand for data centres and inter-connection offerings and intends to continue to increase its capacity".
The directors state that the firm's Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) last year totalled €23.67 million.
Numbers employed by the Irish unit increased from 49 to 64 made up of 45 in engineering and technical; 16 in sales and administration and three directors.
Staff costs increased sharply from €6.8 million to €10.11 million. Pay to directors totalled €738,000 made up of €432,000 in remuneration; €283,000 in share-based payments and €23,000 in pension contributions.
On the risks facing the company, the directors state that the business "is exposed to the risk that electricity providers may not be able to provide further capacity in locations where the company expects to expand".
The directors state that the firm mitigates against this risk by engaging in long-term planning with electricity providers to ensure available capacity.
The company recorded post tax profits of €13.56 million after incurring a corporaton tax charge of €2.67 million.
Shareholder funds totalled €99.4 million that included accumulated profits of €62.69 million. Cash funds totalled €3 million.
Equinix Ireland currently has an appeal lodged with An Bord Pleanála against a South Dublin County Council decision to refuse planning permission for a planned gas powered data centre at Profile Park, Nangor Rd, Clondalkin, Dublin 22.
Reporting by Gordon Deegan
