Profit jumped almost 80 per cent at the Irish arm of technology giant Oracle last year as demand for the company’s products and cloud services rose.
Pretax profit at Oracle EMEA Ltd was €864.3 million for the 12 months to the end of May last, up from just under €481 million a year earlier.
Turnover at the company, which manufactures and sells computer hardware, software products, and cloud services for the Europe, Middle East, and Africa (EMEA) market, was €11.9 billion, up from €9.5 billion in the previous year.
The company paid dividends of just under €1.1 billion - or €415 per share - to its immediate parent in the group, Oracle EMEA Holdings Limited. That was more than three times the €137 per share - or €359 million - it paid in 2024.
RM Block
Staff costs were around 6 per cent higher at €137 million, despite a small decline in the workforce. Wages and salaries of €92.1 million meant the company’s 906 staff earned an average of over €101,000.
When share-based payments and pension costs are added, the average remuneration per employee jumped to just shy of €140,000. They averaged €31,330 in share-based payments.
The company has trimmed staff numbers from 2020, when it employed more than 1,400 people. Most staff are involved in sales and marketing, with more than 500 employed in that division, while 191 were employed in manufacturing and software development.
Oracle said it invested €44.4 million in research and development over the year, building on the €38 million it spent in 2024.
The company paid a tax charge of €36.1 million, down from €61.2 million in 2024, when it paid an additional €25 million in adjustments in respect of previous periods.
After the end of the period, Oracle said it would change its reporting currency from the euro to the US dollar, reflecting the increase in dollar-denominated revenues.
Oracle Inc, the overall group, which was founded by Larry Ellison, Ed Oates and Bob Milner in 1977, recorded revenues of $57.4 billion last year. It has a market cap of more than $409 billion.
The group is cutting thousands of jobs as it looks to reassure investors that its bet on AI infrastructure will pay off. It started making employees redundant on Tuesday, with thousands of Oracle’s 160,000-strong workforce expected to leave.
,About 10,000 people have lost their jobs so far, the BBC reported, citing an unnamed employee at the company.
