On the rocks: Double blow to drinks industry as two distilleries stop production
In a statement to the Business ...
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Agriland
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- Agriland
Irish Drinks Forum 2025 to focus on 'building resilience' in sector
The impact of tariffs on the drinks sector will be among the major talking points at the Irish Drinks Forum 2025. The event, which takes place in Athenry, Co. Galway next month, is seen as the country's flagship event for the food-and-beverage export sector. Senior executives from global drinks brands, government and supply chain leaders will gather for the event as sector faces a new era of disruption and opportunity. The forum will feature a line-up of international brands, industry pioneers, and policy leaders. This year's Irish Drinks Forum comes at a critical time as producers navigate global trade tensions including tariffs, supply chain shocks, climate pressures and shifting consumer demand. Irish drinks exports reached record highs in 2024, but those in the sector warn that volatility across raw materials, international markets and regulation is intensifying. Hosted at the BIA Innovator Campus from September 3-4, this year's forum will feature keynote appearances from global industry leaders. Among those due to address the delegates will be Jamie Fulham, planning and media manager Diageo, and Emma Walls, chief executive of the National Dairy Council (NDC). Over 40 sector leaders from across Ireland, Europe, Asia and North America will contribute to the forum, spanning whiskey, beer, Irish cream liqueurs, cider, spirits, malt, finance, sustainability, and innovation. The drinks sector now accounts for almost half of Ireland's total food and drink exports and supports over 38,000 jobs nationwide. Lynn Harte, Smart Regions Enterprise Innovation programme manager, BIA Innovator Campus and programme manager of the Irish Drinks Forum, said the event is "more than just a conference". 'It's a strategic spark for Ireland's drinks industry at a time when building resilience, innovation, and connection matter more than ever. "At BIA Innovator Campus, we're proud to host and power this national platform that unites producers, pioneers, and policymakers under one roof. "As the operational home of the forum, we're not just facilitating conversations, we're shaping the future of food and drink from the ground up. "This year's programme is bold, forward-thinking, and built on collaboration and we're excited to see the industry's next chapter take shape here in Athenry," she said. Mary Sadlier, CEO of Coole Swan Cream Liqueur, welcomed that this year's forum is focused on building resilience in the industry. 'Our resilience is all about moving forward, you only lose when you stop moving. In a retail-based business the numbers really matter," she said.
Irish Times
a day ago
- Irish Times
Aircraft leasing workers earned €206,000 on average last year
The 3,000-plus workers in the Irish aircraft leasing business each earned €206,000 on average last year, new figures show. The Republic is home to the world's top aviation lessors, including AerCap, Avolon and SMBC Aviation Capital, along with many others, buying aircraft from manufacturers such as Airbus and Boeing, and renting them to airlines. Figures published by the State's Central Statistics Office (CSO) show these businesses owned aircraft worth €268 billion at the end of 2024. It calculates that 3,005 people worked in aircraft leasing last year, earning a total of €620 million, slightly over €206,000 each on average. READ MORE Caoimhe Johnson, statistician in the CSO's national accounts division, said on Thursday that the business had grown over the last few years. 'People employed in the industry rose from 2,804 in 2019 to 3,005 in 2024, with total earnings increasing from €517 million to €620 million over the same period,' she added. Average pay increased 11 per cent during that time, from €185,000 in 2019. Lessors employed 1,853 men and 1,152 women in 2024. Women earned an average of €137,168 while their male colleagues received €249,318. The CSO cautions that as not all staff surveyed had worked a full 52 weeks, it had added up all the weeks worked and divided its total by 52. The aircraft leasing sector has continued expanding over the last five years, despite many countries grounding airlines during the 2020 Coivid pandemic and the Ukraine war's subsequent outbreak, which resulted in many companies losing aircraft leased to Russian airlines. Demand for aircraft is growing around the world, particularly in Asia, where companies say that increasing numbers of working people can now afford to fly. The CSO report, Aircraft Leasing in Ireland 2024, shows that China was responsible for 9 per cent of global income from leasing activity over the last 10 years, while India accounted for 6 per cent. Lessors earned €19.5 billion from renting aircraft to airlines last year, 59 per cent more than in 2014, when the figure was €12.3 billion. The industry earned €2.1 billion in profits last year. Companies use their own cash and loans to buy the aircraft. Irish aviation lessors owed €149.3 billion to lenders last year, while shareholders had provided businesses with €52.8 billion. Bonds – another form of borrowing – accounted for €28.1 billion of the finance that Irish lessors had raised by the end of 2024, according to the CSO.
Irish Times
a day ago
- Irish Times
Gallagher quit Nutribrand after firm decided to change chairman, says presidential hopeful Sheridan
Former presidential candidate Seán Gallagher resigned from his role at Nutribrand after it decided to replace him as chairman, the company's chief executive, Gareth Sheridan , has said. Mr Sheridan, who announced his own bid for the presidency over the weekend, said the company was 'surprised' when Mr Gallagher raised the issue of a basketball corporate box in his January 2022 resignation letter. The 35-year-old pharma businessman from Terenure in Dublin intends to run as an independent candidate, seeking a nomination from local authorities to get on the ballot paper. Mr Sheridan cofounded US-based Nutribrand in 2012, which utilises technology to prevent the abuse of patch medications such as fentanyl. READ MORE Mr Gallagher, another Irish businessman who came second in the presidential race of 2011, became chairman of Nutribrand in 2018. However, according to Mr Sheridan, Mr Gallagher resigned from the role in January 2022 when communications broke down over a change in corporate structure. A spokesman for Mr Sheridan said Mr Gallagher's resignation came shortly after the company decided his role should be filled by 'someone with US capital markets experience'. It was decided that Serguei Melnik, a cofounder of Nutribrand, would be appointed chairman and that Mr Gallagher would 'voluntarily vacate' the role and remain as director on the same remuneration package. 'Communication broke down at this point,' the spokesman said, and Mr Gallagher submitted a resignation in January 2022. The spokesman said the company was 'surprised' when Mr Gallagher referenced a corporate box in his resignation letter. In 2020 the company paid $180,000 for a corporate box from basketball team Orlando Magic at the Amway Arena Stadium in Florida, for a renewable one-year period. The company described it as a 'good fit' because 'it is the NBA's most prominent team in the fight against the misuse of opioids'. Nutribrand retains this corporate box and has extended its contract, the spokesman said. Also declared as presidential contenders are former MEP Mairead McGuinness, selected as Fine Gael's candidate, and Independent TD for Galway West Catherine Connolly, who has support from Oireachtas members. No other parties have announced candidates as yet.
