Mannok Holdings DAC [‘Mannok’], recently published an overview of its 2022 operating performance for the 12 months ended 31st December 2022, a period of continuing investment and progress on sustainability.
Turnover increased by 17.7 per cent on the prior year period from €269.9m to €317.7m, largely driven by inflationary induced pricing. Despite the inflationary environment, EBITDA was unchanged on the prior year period at ¤25.8m, reflecting a gradual pass through of rising input costs, fluctuations in the Euro-Sterling exchange rate and a softening of demand in response to price pressures. Notwithstanding the unfavourable cost environment, Mannok maintained employment levels and continues to employ over 800 staff, an increase of 150 since 2014, making it one of the largest employers in the region.
Post year end, John Moran, CEO and founder of RHH International, Chairman of Grid Finance, Chairman of the Limerick Tunnel PPP and board member of Shannon Airport Group, as well as being a former Secretary General of the Department of Finance, former board member of the European Investment Bank (EIB) and former Chair of the Land Development Agency, was appointed non-executive Director of Mannok.
Director of Mannok in early 2023.
Liam McCaffrey, Chief Executive Officer, said: “I welcome John to the board and look forward to working closely with him given his top-level experience at the EIB, a leader in sustainable finance and climate change.”
With operations straddling north and south of the border, Mannok comprises two key divisions, Building
Products and Packaging. Its key activities are the manufacture of cement, concrete, quarry and aggregate
products, insulation materials, as well as the manufacturing of packaging products, mainly for the food
industry, focussed on the island of Ireland and GB markets.
Commenting on outlook for the year ahead Chief Financial Officer, Dara O’Reilly said “Following some volatility in activity levels in 2022, we are seeing renewed momentum year to date and firmer demand, which inform a more encouraging outlook for the year ahead.
