Enterprise Ireland
Annual Report and Accounts 2005
Annual Report and Accounts 2005
A very successful year for our clients
This year has been an excellent one for Enterprise Ireland clients. They increased new export sales by €1.275 billion to achieve €10.7 billion in total exports. This strong performance is a tribute to their vision and strategic planning over recent years as global competition intensified and new challenges emerged.
In addition to an excellent growth of 7.2% in total export sales on 2004, total sales, including domestic sales, rose by 6.5% to €25.8 billion in 2005. Client companies created 11,661 new jobs, of which 8,143 were first time job gains. Overall job losses were 12,395 resulting in a net decline in employment of 734.
The emergence of Irish-owned start-up companies with high growth potential and the sustained growth of established Irish businesses are central to Ireland’s continued economic success and prosperity across the regions. Irish companies make an outstanding contribution at a local level all over the country and spend over €16 billion annually on payroll and Irish-sourced goods and services.
New Corporate Strategy
In May 2005, the Board strongly endorsed Enterprise Ireland’s new corporate strategy: Transforming Irish Industry 2005-2007. The overall objectives of this strategy are: to help transform Irish companies into market-focused and innovation-driven businesses across all regions and sectors; to increase their exports, sales and employment; and to develop a highly competitive, self-sufficient, world-class industrial structure. The Board of Enterprise Ireland is fully committed to achieving the challenging targets set out in this strategy.
Corporate Governance
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.
Support from Government Departments and Partners
Throughout the year, we received great support from Government Departments and I would like to thank them for their assistance. They include: the Department of An 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.
I take this opportunity also to thank our many partners with whom we worked very closely throughout the year. They include: Bord Bia; Bord Iascaigh Mhara; FÁS; Forfás; Higher Education Authority; IDA Ireland; Inter Trade Ireland; Science Foundation Ireland; Shannon Development; Údarás na Gaeltachta; and other State agencies, industry associations and third-level institutions. I look forward to continuing our combined efforts to support and grow our clients and Ireland’s enterprise base.
Patrick J Molloy
Chairman
