Dublin Zoo is now "operating profitably" and the entity which operates Dublin Zoo and Fota Wildlife Park in Cork expects to record "a small surplus" for the year.
That is according to new annual accounts filed by the Zoological Society of Ireland, which show that the not-for-profit organisation recorded operating losses of €4m in 2020 due to the Covid-19 pandemic impact.
The €4m operating loss is before public and State Covid-19 support is taken into account.
The society recorded the operating losses of €4m after the impact of Covid-19 lockdowns and restrictions put a €10.28m hole in the society's operating revenues.
The new accounts show that the society’s operating income last year declined by 46% or €10.28m from €22.2m to €11.9m.
The operating income plunged due to numbers attending Dublin Zoo last year more than halving from 1,040,284 to 460,483 last year while attendance numbers at Fota Wildlife Park reduced from 462,047 to 384,901.
Last year was the first time in ten years where Dublin Zoo did not have more than one million visitors.
A successful fundraising drive, Save Dublin Zoo softened the financial impact of the pandemic.
In response to the mounting operating losses and plunging revenues, Dublin Zoo last November launched its Save Dublin Zoo and received an outpouring of public support with the directors reporting that by the end of last year the Save Dublin Zoo fundraiser had generated €2.7m.
As a result of the fundraiser, of which €2.2m is recognised in the accounts, and Covid income related supports of €1.1m including wage subsidy scheme payments together with grant aid to support animal welfare, the society’s deficit for the year totalled €599,000.
The deficit also takes into account non-cash depreciation charges of €3.4m.
Confirmation that the zoo is now operating profitably follows 12 months after dire warnings from the zoo that it may have to close its gates due to the impact of Covid-19.
The zoo also warned that it may run out of cash by spring time of this year.
In response, the Government stepped in to provide Dublin Zoo and Fota Wildlife Park with €1.1m in funding to stabilise the parks’ finances while the public inundated the Save Dublin Zoo campaign with donations.
The directors said that subsequent to year end, both Dublin Zoo and Fota Wildlife Park were closed again for a number of months due to Covid-19 restrictions.
"The parks have now reopened and are currently operating profitably although at restricted levels," the directors said.
"Although there is continuing uncertainty in relation to the ongoing impact of the Covid-19 pandemic, the group expects to make a small surplus for the year to December 31st," they added.
A breakdown of the society's revenues show that gate receipt revenues more than halved last year from €15.14m to €7.5m.
The society’s shop income reduced by 47% from €2.97m to €1.57m
Numbers employed reduced from 167 to 124 and staff costs reduced from €7.4m to €5.22m.
Underlining that the society maintains a strong balance sheet, at the end of December last, the society’s funds totalled €30.88m.
