Vertiv's Irish Unit Sees Profit Surge
Vertiv's Irish unit reported a big increase in profits for the last fiscal year. This growth was driven by a rise in sales of data centre equipment. Financial filings showed that revenues for Vertiv Ireland Limited rose from €131.2 million to €182.5 million. The company's pretax profits more than doubled, going from €43.6 million to €111.6 million.
Cost of sales fell 23% to €41.7 million, which helped boost profits. In 2025, the directors approved a €62 million dividend and a further €100 million payout for this year. Vertiv's parent company, based in Ohio, also reported global sales of $10.2 billion (€8.8 billion) in 2025. The order backlog more than doubled to $15 billion due to strong demand from data centre clients.
The company has expanded its workforce in Ireland, adding over 500 new employees since the start of the year. Plans include creating an additional 300 jobs in Donegal and developing a new 7,000 square meter production facility at its current site in Letterkenny. Vertiv now employs nearly 2,500 people across Ireland, with operations in Donegal, Derry, Limerick, and Dublin.
The rise in data centre investment has been fueled by major tech firms like Meta and Alibaba. As demand for IT infrastructure continues to grow, Vertiv is set to take advantage of this trend. The company has seen a strong increase in orders, with clients placing requests well ahead of typical delivery timelines.
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The surge in Vertiv's profits reflects broader trends in the data centre sector. This could positively influence technology and infrastructure stocks. Investors may look for similar growth patterns in related companies as demand for data services increases. Watch for further announcements from Vertiv about its expansion plans and job creation initiatives.
Based on reporting by: irishtimes.com