Redundancy costs of €770,220 at the Irish arm of DHL last year contributed to pre-tax profits decreasing by 6% to €8.93m.
Recently filed accounts for DHL Express (Ireland) Ltd show that pre-tax profits decreased from €9.48m to €8.93m despite revenues rising by 6% from €188.14m to €199.28m.
The firm provides door to door pick up and express delivery of time sensitive shipments from Ireland to more than 220 countries worldwide.
The directors state that the revenue increase represents "a strong performance given the economic conditions in Ireland and internationally".
The firm last year paid out a dividend of €10m and this followed a dividend payout of €5m in 2024.
Numbers employed reduced by more than 10% of the workforce at 55 from 512 to 457 during the year.
The 55 reduction in workforce coincided with the firm incurring "termination costs" of €770,220 and this followed €88,190 paid out under the same heading in 2024.
The €770,220 in termination costs was part of €33.5m in staff costs last year which was down €2m on the €35.5m paid out in 2024.
Wages and sales reduced by 8% from €30.02m to €25.55m while other compensation totalled €691,743 and share based payments totalled €111,709.
Operating profits declined marginally from €8.08m to €7.93m and net interest and finance payments of €997,000 compared to €1.4m under the same heading in the prior year contributed to pre-tax profits declining from €9.48m to €8.93m.
The directors state that "despite the year-on-year decrease in profit, the results are considered satisfactory given the ongoing challenges in the domestic and international economy".
They state that "our core International Air Express service (import and export) continues to represent the largest contribution to total turnover and has been the key driver of the growth generated throughout the year".
"International Road, Domestic and Same Day services have also performed well and delivered significant results," they add.
The directors state that "2025 saw global supply chains across the international Express market continuing to be impacted by the ongoing geo-political upheavals but, in particular, the energy crisis, the impact of high inflation and weak (to negative) economic growth across some countries served".
They state that "despite these circumstances, the DHL Express business in Ireland delivered strong growth in turnover and also recorded a satisfactory profit for the year".
"Aided by our steady financial performance in 2025, it remains our clear intention to continue to invest in the DHL Express Ireland business through our network infrastructure and facilities to strengthen our network and support our customers across the country, focussing on our carbon reduction agenda," they add.
Owned by the German-based Deutsche Post, the firm last year recorded post tax profits of €7.65m after incurring a corporation tax charge of €1.27m.
At the end of December last, shareholder funds totalled €33.3m which included accumulated profits of €9.3m.
The profit last year takes account of combined non-cash depreciation costs of €1m.
Directors'pay totalled €796,223 made up of €673,778 in emoluments, €76,844 in benefits under a long term benefit scheme and €45,601 in pension contributions.
The profit also takes account of lease costs of €5.5m.
Reporting by Gordon Deegan
