Oireachtas Joint and Select Committees

Tuesday, 9 June 2015

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Strategic Plan: Bord na Móna

1:30 pm

Mr. Michael Barry:

Perhaps I will pick up on that question. As was stated, the turnover of the company is somewhat in excess of €400 million. In the year ended March 2014, we reported an after-tax profit of approximately €33 million, of which one third was paid back to the State by way of dividend. In fact, 95% went to the State and 5% to the employees, who have 5% ownership. As for the balance sheet, we have shareholders' funds in the region of €225 million. At present, we have borrowings of approximately €200 million, all of which is long-term and repayable up to the end of 2019 and all of which has been raised in the US private placement debt market.