Latest news with #EoinVaughan
Irish Times
29-05-2025
- Business
- Irish Times
Mercury Engineering aims for €3bn revenue within five years
Specialist builder Mercury aims to boost annual revenues by two-thirds to €3 billion by 2029, the Irish company says in a document setting out its plans for the next five years. The news comes just weeks after the builder of data centres and pharmaceutical and microchip factories reported that it earned €114 million in profit last year. Mercury's target for annual revenues of €3 billion from 2029 is 66 per cent more than the €1.8 billion it reported for last year. The Dublin-headquartered business operates from 20 locations across Europe. READ MORE Its strategy document, titled Go Beyond, focuses on several European regions where Mercury believes there are opportunities for growth. These include the Nordics, where the company calculates it can grow turnover to €750 million in 2029 from €69 million last year. In Germany, Mercury believes it can boost sales to €850 million from €580 million last year. The Irish company is building a new base in Schönebeck, which is about two hours southwest of Berlin. That will serve as a key centre for operations across Europe. In Italy and Spain, Mercury is targeting turnover of €300 million in 2029 from €128 million in 2024. Chief executive Eoin Vaughan said having a strong 'localised presence in mainland Europe' was a priority for the group as it prepared to expand. 'We will maintain our position as the European leader in data centre construction,' he says. 'The next five years will see enhanced growth in life sciences.' Mr Vaughan said Mercury would continue working with multinational clients in the semiconductor business. When it reported results this month, Mercury said data centre construction contributed €1.55 billion to sales last year, with semiconductors adding €154 million and life sciences €81 million.
Irish Times
13-05-2025
- Business
- Irish Times
Mercury reports almost €114m profit
Profits at specialist construction group Mercury rose 55 per cent to almost €114 million last year, new figures show. Accounts just filed for the Dublin-based group, which operates across Europe, said revenues climbed 14 per cent to €1.8 billion in 2024. Operating profit grew 56 per cent to €113.5 million, aided by a strong performance in Germany, which contributed €580 million to sales. Mercury builds specialised facilities for the data centre, semiconductor and life science industries from 20 centres across Europe. READ MORE Its data centre building business contributed €1.55 billion to sales last year, with semiconductors adding €154 million and life sciences €81 million. Eoin Vaughan, chief executive, acknowledged that there were 'challenges ahead' but stressed that the company was confident about its outlook. 'Mercury has a strong record of adapting and delivering for our clients,' he said. 'Our projects and partnerships span year and annual results are only a snapshot of this wider context.' Mr Vaughan added that it remained focused on the long term. The company's chief executive pointed out that it was poised to sustain growth across its key three industries. Eric Wallace, chairman, said the results were a testament to the entire workforce across all its territories.
