Walls Construction posts 48% profit rise as revenues exceed €630m

Walls Construction Holdings Ltd, the builder behind Dublin’s Central Bank headquarters and the 3Arena, recorded pre-tax profits of €36.56m in 2024, up 48% from €24.67m the previous year. Revenue rose 10.5% to €631.18m, reflecting the company’s expanding operations across multiple construction sectors.

The group paid out €24.08m in dividends, up from €16.45m in 2023, while maintaining a healthy cash balance of €111.1m with no external debt. Operating profits of €34.14m, supplemented by interest receivable of €2.42m, underpinned the strong pre-tax performance.

Walls Construction has bolstered its management structure over the past two years to support increased turnover and maintain operational efficiency. Staff numbers grew from 437 to 478, with payroll rising by 10% to €52m. Directors’ pay also increased by €1m to €3.4m.

The firm has diversified geographically and across construction sectors, completing projects including LinkedIn’s Dublin HQ, Google Bolands Mill, and the Kerry Group Global Technology and Innovation Centre in Naas, Co Kildare. The strong order book positions the company for continued growth in 2025 and provides visibility into 2026 projects with both new and existing clients.

Walls Construction also made investments aligned with its ESG strategy, acquiring a biological asset valued at €220,143 and a property including a forest plantation for potential carbon offsets. Directors acknowledged broader macroeconomic factors, including tariffs and tax policy, but remain confident in the group’s financial stability.

The company’s post-tax profit for the year stood at €31.42m, after a corporation tax charge of €5.14m, while shareholder funds totalled €41.89m, including accumulated profits of €38.9m.

Explore the full financial breakdown and project pipeline of Walls Construction in the full story.