Swissport Ireland experienced a 38pc surge in wage costs in 2023, contributing to a 45pc decline in pre-tax profits, which fell to €6.54m, despite a revenue increase of 16.5pc to €61.14m.
The increase in wages is attributed to challenges in staff recruitment faced in 2022, which were overcome in 2023, leading to a higher headcount from 843 to 898 employees.
Swissport’s earnings before interest, tax, depreciation, and amortization (Ebitda) dropped to €7.39m, down from €13.12m in 2022, partly due to positive impacts from Covid-19 government support in the previous year.
The company’s operations across Dublin, Cork, and Shannon airports are expected to strengthen as the sector continues to recover, with notable revenue sources including €44m from ground handling and €16.27m from cargo services.
