Oracle's Irish arm returns to profit after revenues top €9.5 billion
The directors of the main Irish arm of Larry Ellison's Oracle believe that the direct impact of US, European Union and other jurisdictional tariffs and non tariff measures to be minimal.
That is according to new accounts for Oracle EMEA Ltd which show that the business returned to pre-tax profit last year to record pre-tax profits of €480.97m.
This followed revenues increasing by 4% from €9.15 billion to €9.54 billion in the 12 months to the end of May last. Oracle's global revenues in fiscal 2024 totalled $53 billion.
The pre-tax profit of €480.97m at Oracle EMEA Ltd last year followed a pre-tax loss of €89.77m in fiscal 2023.
The main activity of the Irish based company is the manufacture and sale of computer hardware and software products and cloud services in the Europe, Middle East and African (EMEA) markets.
The company paid out a dividend of €359m last year and in a post balance sheet event paid out on March 31, 2025 a further €371.26m dividend to Oracle EMEA Holdings Ltd.
The accounts were signed off on April 15 which came only five days after US President, Donald Trump announced a 90 day pause on a range of reciprocal tariffs imposed on his so-called "Liberation Day" on April 2.
A 10% tariff does remain in place for goods on most of the US's trading partners and there are exemptions for pharmaceuticals and microchips and some other items.
In a post balance sheet event, the directors of Oracle EMEA state that they consider the direct impact of US, European Union and other jurisdictional tariffs and non tariff measures to be minimal.
"Such measures are dynamic and the directors will continue to actively monitor the situation and may take further actions that may alter the company's business operations as may be required," they said.
The company recorded a post tax profit of €419.74m after incurring a corporation tax charge of €61.22m.
The directors state that the increase in revenues is in addition to a decrease in distribution costs. They state that as a result of external factors, the company experienced foreign exchange losses of €50.68m.
Profits last year increased as a non-cash impairment of €208m that occurred in 2023 did not re-occur last year.
Numbers employed by the group last year reduced from 1,049 to 918 made up of sales and marketing of 524, 177 in manufacturing and software development, 158 in finance and administration and 59 in product localisation and translation.
Staff costs last year declined from €138.92m to €128.96m that included share based payments of €23.93m.
The profit last year takes account of non-cash amortisation charges of €475.29m and research and development costs of €37.98m.
At the end of May last, Oracle EMEA Ltd had shareholder funds of €9 billion that included accumulated profits of €3.64 billion. Cash funds reduced from €114.68m to €108.05m.
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