- The Irish National Stud reported a €1.5m loss before tax in 2025.
- This marked an improvement compared with the €1.8m loss in 2024.
- Turnover reached €6.7m during the year.
- The stud welcomed 31 foals and increased bloodstock sales income.
- More than 146,000 visitors attended the site in 2025.
Visitor numbers at the Irish National Stud rose to more than 146,000 in 2025 from 144,000 the year before. The state-owned centre in Co Kildare reported a loss before tax of €1.5m in 2025, an improvement from €1.8m the previous year. Overall turnover including non tourism related activities fell to €6.7m from €7m in 2024.
Tourism has become an essential revenue stream, generating €2.62 million in tourism revenues for the company alongside its €4 million stud activity earnings.
The recovery from the pandemic has remained strong, with management noting that the business bounced back ahead of the average tourism market. Key drivers for the sustained visitor interest include:
- The Irish Racehorse Experience: An award-winning, interactive attraction detailed on the Irish National Stud Plan Your Visit Page that uses gaming technology to let visitors virtually buy, train, and race their own thoroughbred.
- The Grounds: The combination of a working stud farm with the world-famous Japanese Gardens and St. Fiachra’s Garden.
- Industry Collaboration: The launch of the Horse Country Equine Tourism Experience in 2025 further boosted visibility for County Kildare’s bloodstock tourism.
The equestrian attraction and operating stud farm has cut its annual losses in the first full year without income from its former star stallion Invincible Spirit. Invincible Spirit generated around 70pc of revenue in 2017 and 40pc in 2020 before retirement in 2024. The stud hosted more horses from France and Germany to offset reduced arrivals from Britain after Brexit. It recorded 31 foals during the year and improved income from bloodstock sales.
The operating loss before depreciation decreased to €140,538 from €447,011. The organisation continues work to develop new stallion income streams to replace the contribution from Invincible Spirit.
Dáirine Walsh shared “2025 has been a year of operational and net gains from last year, as we continue our transition through the inevitable decline in income arising from Invincible Spirit.”
