The Irish arm of US logistics company FedEx last year delivered a dividend of €50 million.
New accounts filed by FedEx Express Ireland Ltd show that pretax profits declined by 22 per cent to €3.2 million in the 12 months to the end of May last.
This followed revenues increasing marginally from €65.05 million to €65.38 million.
The directors state that revenues increased by 0.5 per cent “due to increased volumes during the year”.
RM Block
The main activity of the company is as a carrier of goods of every nature and description. It also operates a global data centre in Dublin for the FedEx group.
Other operating income of €6.73 million was generated from the operation of the data centre, down on the €15.6 million generated by the data centre in 2024.
The company made the €50 million dividend payout after the share capital of the company was reduced by a capital reduction by cancelling 52 million ordinary shares of €1.25 each.
This resulted in a cumulative transfer of €72.7 million from the share capital and share premium accounts to the company’s accumulated profit reserves.
The company’s operating profits declined by 26 per cent to €2.11 million and interest income of €1.09 million resulted in the pretax profit of €3.2 million.
It recorded post tax profits of €2.68 million after incurring a corporation tax charge of €524,175.
The number employed by the firm last year reduced from 277 to 272 while s
taff costs reduced from €17.19 million to €16.31 million.
This included salary costs of €13.97 million and share based payments of €215,830.
Pay to directors last year increased from €211,870 to €372,764, the largest component being €264,364 in compensation for loss of office/other termination payments.
The remainder of directors’ pay comprised €37,297 in emoluments compared to €182,277 under that heading in 2024. Directors also received €13,956 under long term incentive schemes and €57,147 through the exercise of share options during the year.
Globally, in the year end of May last, FedEx recorded revenues of $87.9 billion (€74 billion) and employed 440,000 staff. It also had 695 owned aircraft in service and 78,000 vehicles.
