Coillte said that the effects of the “unprecedented levels of damage” from storm Éowyn in January 2025 continue to impact negatively on the business.

The statement, published along with the company’s annual report for the year said that the financial impact of the weather event is estimated to be “in excess of €80m”.

While work is continuing on the salvage of windblown trees, it is not expected to be completed until mid-2027.

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Earnings before interest, taxation, depreciation and amortisation (EBITDA), for 2025 came in at €66.5m, a 5% increase on the previous year, but once exceptional costs relating to the clean-up from storm Éowyn are taken into account, the company made an operating loss of €33.5m.

The company will not pay a dividend to its shareholder (the government) for 2025. The company ended the year with net cash of €26m.

The company made progress on its wind-energy portfolio where the key ambition is to develop 1GW of renewable energy by 2030.

Coillte advanced €18m in shareholder loans to FuturEnergy, its joint venture with ESB.

Imelda Hurley, CEO of Coillte, said: “Against the backdrop of one of the most challenging years on record for the organisation due to the unprecedented impact of storm Éowyn, Coillte delivered a solid financial performance with EBITDA of €66.5 million before exceptional costs.

“The market environment in 2025 continued to be challenging across all our core markets. Ongoing geo-political tensions have led to continued end market demand uncertainty, curtailing any expected demand recovery.”

Land transfer

Coillte currently owns or manages approximately 440,000 hectares, or around 7% of Ireland’s land area.

Speaking on Thursday, before the publication of Coillte’s annual report, Minister of State for Nature Christopher O’Sullivan said that the transfer of lands from Coillte and Bord na Móna is to form part of government’s plans to improve the state Ireland’s natural environment.

Coillte has a commercial mandate, and O’Sullivan said that rather than change the company’ mandate, the land needed to restore nature could be acquired from the company. It would be given to the National Parks and Wildlife Service to manage.

O’Sullivan said that the current state of nature in Ireland is “abysmal”.