The National Ploughing Association (NPA) made losses of almost €420,000 last year despite record attendances at the 2019 Ploughing Championships in Co Carlow.

Accounts filed last week for the NPA show the organisation reported a net loss of €418,480 for its 2019 financial year, which follows the loss of €608,741 made the previous year when Storm Ali devastated the 2018 Ploughing in Tullamore.

The cost of running the Ploughing has increased significantly over recent years

A spokesperson for the NPA said the loss last year was down to the fact that the cost of running the Ploughing is roughly €6m every year, significantly higher than the NPA’s total income from gate receipts and trade stands at just over €5.6m.

“The cost of running the Ploughing has increased significantly over recent years to more than €6m per annum, which is more than our turnover at the moment. And with the World Ploughing Championships coming to Ireland next year, costs are likely to be a further €0.5m higher. The World Ploughing will be a four-day event and the NPA will have to bear the costs of hosting the participants from around the world,” said the spokesperson.

Admission fee increase

As a result of the mismatch between income and costs, the NPA confirmed it will increase its admission fee from 2021.

“From next year the NPA will be seeking to increase the admission fee to the Ploughing Championships for a single adult from €20 to €25 in order to make up the shortfall between income and the cost of running the event,” said the spokesperson.

“It’s something the NPA has been looking at doing for the last number of years to match rising costs but we held off doing it last year after the difficulties caused for attendees when storm Ali hit the Tullamore Ploughing.”

Balance sheet

The net loss for 2019 saw the accumulated reserves on the NPA’s balance sheet reduce by 3% last year to just under €13m. While the organisation is still in a very healthy financial position, the NPA points out that it cannot continue to eat into its reserves like it has over the last two years.

The number of people employed by the NPA rose from 11 in 2018 to 13 people last year

The accounts filed by the NPA show the organisation recorded a double-digit rise (+13%) in turnover last year to reach just over €5.6m as crowd numbers recovered to almost 300,000 at last year’s Ploughing Championships in Fenagh, Co Carlow.

The number of people employed by the NPA rose from 11 in 2018 to 13 people last year, which saw total staff costs rise by 13% in 2019 to just over €630,000. The total remuneration for all directors of the NPA amounted to just over €221,000 last year.