The number of employees earning over €100,000 at Irish Water increased by 43 last year from 133 to 176.
That’s according to the utility’s 2021 annual report, which shows Irish Water’s operating profits rose 46 percent last year to €382.34 million.
The report shows that Irish Water saw operating profits rise as the government subsidy to the state utility rose 9.5 per cent last year from €815m to €893m.
The utility’s total revenue for 2021 increased 12% from €1.06 billion to €1.19 billion.
The total income includes commercial income of EUR 298.08 million, which consists of income from abroad from EUR 173 million to EUR 198.4 million and income from new connections from EUR 73.19 million to EUR 99.6 million Assemble euros.
The state has given the utility hefty annual subsidies since it first suspended domestic water fees in 2016, before formally abolishing them in 2017 after much public opposition to the fees. The charges were shelved after more than €500 million was spent installing 820,000 water meters across the country. The report shows that 11 of the 176 employees making over €100,000 received more than €175,000, including Niall Gleeson, MD of Irish Water, who received a €239,000 pay package – the same level as in 2020.
The report shows that 13 employees received between 150,000 and 175,000 euros; 28 employees between 125,000 and 150,000 euros and 124 employees between 100,000 and 150,000 euros.
Irish Water employs 823 people and has staff costs of €81.8 million. The report states that Irish Water has “delivered a satisfactory financial performance in 2021”, particularly in the context of the challenges of Covid-19 and rising energy costs.
After accounting for interest costs of €3.4m and combined non-cash depreciation and amortization costs of €152.27m, Irish Water reported pre-tax income of €226.63m – an 87% increase from pre-tax income of €120 €.68 million in 2020. Any surplus at Irish Water is reinvested to fund critical infrastructure projects.
https://www.independent.ie/business/irish/irish-water-has-176-staff-earning-over-100000-a-year-41924378.html Irish Water has 176 employees earning over €100,000 a year