State public transport group CIÉ earned almost €6.6 million profit last year as revenues rose, new figures show.
CIÉ owns Bus Éireann, Dublin Bus, Iarnród Éireann and CIÉ Tours, along with properties linked with those businesses around the State.
Profits at the company reached €6.57 million last year, from €122,000 in 2024, according to its annual report.
Revenues topped €2 million last year from €1.8 million in 2024.
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The company paid a €2 million once-off bill stemming from the restructuring of its companies in 2024, a cost it did not have last year.
Earnings before interest, tax and write-offs, which measures the cash a company generates, rose 41 per cent to €41 million.
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CIÉ reached a new deal on its pensions with the unions representing most of its workers last year, eliminating a liability that had reached €361 million by the end of 2024.
As a result it ended last year with net assets of €370 million, against a shortfall of €157 million 12 months earlier.
The group continued to support investment by individual subsidiaries last year, according to chief executive Stephen Kent.
That included work on extending Dublin’s light rail Dart service, Bus Connects and funding the development of its Tivoli site in Cork.
Individual group companies lead investment in specific projects with funds provided by the National Transport Authority, but CIÉ provides legal and property advice, Kent explains in his annual statement.
Meanwhile, Minister for Transport Darragh O’Brien appointed Gerard Ryan as chairman of Dublin Bus for six months from September.
Ryan will replace Gary Owens, whom the Minister appointed chairman of State airports company DAA earlier this year.
He will hold the post while independent body Public Jobs seeks a replacement for Owens. Ryan was a director of Bus Éireann from 2012 to 2021, the Minister noted.
