DAA overseas businesses make €42m
The State-owned airports operator, which runs Cork and Dublin airports in the Republic, also owns DAA International, a management and consultancy firm and Aer Rianta International, which runs duty free stores in airports around the world.
The pair jointly earned profits of €42 million in 2024, according to accounts just filed for both businesses.
Aer Rianta International, the bigger of the two, grew profits 33 per cent last year to €36.2 million from €27 million in 2023.
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Sales dipped slightly to €217.5 million from €218.3 million, according to the accounts. Net assets rose 13 per cent to €330.5 million from €290.7 million, aided by the growth in profit.
Aer Rianta International holds DAA's shares in Düsseldorf Airport in Germany, and in Hermes Airports, which operates Larnaca and Paphos airports in Cyprus.
It manages shops in Cork and Dublin airports along with interests in retailers in 27 gateways across 13 countries, including Abu Dhabi, Barbados, Canada and Saudi Arabia.
Directors Ray Hernan and Colin O'Donovan said the company performed strongly last year, growing revenues and generating 'robust profits', in their report filed with the accounts.
Pretax profits at DAA International grew 6 per cent to €5.87 million from €5.55 million last year, its accounts show.
Revenue rose 10 per cent to €44.3 million from €40.2 million. Net assets almost trebled to €8.87 million from €3 million, according to the accounts.
DAA International offers advice, management and investment services to airport clients around the world.
Its flagship contracts in 2024 were for the management of King Abdulaziz International Airport in Jeddah and the Red Sea International Airport, Saudi Arabia.
Directors Edward Rowney and Miriam Ryan said it also provided consultancy in the Philippines, Australia, Canada, Uzbekistan and Europe during last year.
The directors say that the company continues to position itself to cash in on emerging opportunities this year and beyond.
In DAA's annual report, published earlier this year, the State company's chairman, Basil Geoghegan, noted that DAA International 'played a crucial role in assisting its clients at Red Sea International and Jeddah airports', aiding them in handling 49 million passengers last year.
He also noted that Aer Rianta International had a record year.
DAA will report results for the first six months of this year early next month.
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