ESB make operating profit of €455m

By Greg Murphy

The ESB Group made an operating profit last year of €455m.

The profit after exceptional items, interest and tax was €60m.

Its full-year results to the end of 2018 have been published this morning.

They show a total capital investment in critical long term electricity infrastructure of €1.2bn.

Commenting on the results Pat Fenlon, ESB’s Chief Financial Officer said: “In continued challenging market conditions, ESB delivered a satisfactory financial performance in 2018 with profit after exceptional items, interest and tax of €60 million and almost €1.2 billion of energy infrastructure investments.

"ESB continued to focus on delivering long term value and investing in critical long term electricity infrastructure for the benefit of our customers, shareholders and the wider Irish economy.

He added: "ESB’s diversified businesses and solid financial position ensure it is well placed to meet the challenges that lie ahead and remain at the forefront of the energy sector in an all-islands market.”

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