Enterprise Ireland
Annual Report and Accounts 2004
Annual Report and Accounts 2004
Irish companies rose to the challenges in 2004 of new markets, tough competition from low-cost suppliers, a strong euro and continuous pressure to innovate on a global level. Their increased export success and corporate growth is a tribute to their strategic thinking and ambition to drive their businesses forward and contribute to the growth of the Irish economy.
Total export sales of €10.167 billion were achieved in 2004 by Enterprise Ireland clients, which represents a growth on 2003 of 5.6%. Total sales by clients, including domestic sales, reached €24.405 billion, up 4.3%.
Client companies created 11,898 new jobs in 2004, of which 7,934 were first-time job gains. Overall job losses were 13,215. This results in a net decline in employment of 1,317, a 60% reduction in net job losses on 2003.
Irish industry and entrepreneurship is of paramount importance to our economy and to our society, not least because of the significant regional economic impact arising from the activities of Irish companies. During 2004, this amounted to €17 billion in payroll and procurement expenditures with every county in Ireland benefiting.
The Board of Enterprise Ireland is committed to achieving the highest standards of corporate governance, commensurate with Enterprise Ireland’s responsibilities as a statutory agency. In so doing, the Board applies the principles of good governance, which are set out in the Code of Practice for the Governance of State Bodies (Department of Finance, October 2001). The Board and Management are, furthermore, committed to ensuring that all of their activities, whether covered specifically or otherwise in the code, are governed by the ethical and other considerations implicit within it.
In July 2004, Barry O’Halloran retired from membership of the Board of Enterprise Ireland, in accordance with Section 9(8) and (9) of the Industrial Development (Enterprise Ireland) Act, 1998. Barry has served as a Board member since the establishment of Enterprise Ireland in 1998 and has made a very valuable input to the work of the Board over these formative years. On behalf of the Board, I thank Barry most sincerely for the quality of his commitment and contribution. On September 17th 2004, An Tánaiste and Minister for Enterprise, Trade and Employment, Ms Mary Harney, TD, appointed Gerard O’Malley and Margaret Daly to the Board. Gerard O’Malley is Managing Director of Malley & Associates Intersearch. Margaret Daly is an Environmental Consultant (Margaret Daly Consulting Ltd.). Both Gerry and Margaret bring valuable experience to the Board of Enterprise Ireland.
I would like to thank all Government Departments for their excellent support of Enterprise Ireland, including: the Department of the Taoiseach; the Department of Enterprise, Trade & Employment; the Department of Agriculture & Food; the Department of Communications, Marine & Natural Resources; the Department of Education & Science; the Department of Finance and the Department of Foreign Affairs.
My thanks also to our other partners, including: Bord Bia; Bord Iascaigh Mhara; FÁS; Forfás; IDA Ireland; InterTradeIreland; Science Foundation Ireland; Higher Education Authority; Shannon Development; Údarás na Gaeltachta and other State Agencies, industry associations and third level institutions. It is my pleasure to work alongside such partners for the benefit of Irish industry.
Patrick J Molloy
Chairman