Geoscience Ireland members’ turnover tops €1 Billion

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Geoscience Ireland members’ turnover tops €1 Billion; SMEs Generate €300 Million in 2018

 

Sean Canney TD, Minister of State for Natural Resources, has welcomed the results of a survey of the 38 companies in the Geoscience Ireland cluster that showed turnover for 2018 stands at €1,024,519,082 and that 253 net new jobs were created last year. The Geoscience Ireland business cluster is operated by IMQS corporate member Geological Survey Ireland, a division of the Department of Communications, Climate Action and Environment, and assists Irish companies in winning business in international markets.

The survey also showed that the small- and medium-sized companies (33 SMEs) within the cluster generated €299,609,082 and created 198 net new jobs; 35.7% of total turnover was derived from overseas activity.

Commenting on the survey, Minister Canney welcomed the “sustained economic growth and the creation of jobs in the highly technical geoscience sector. While construction and infrastructure activity has recovered in Ireland, a continued focus on the export potential for Irish SMEs must remain a key target for job creation.

“My Department will continue to support the Geoscience Ireland business cluster in winning business overseas, which has seen the creation of 1,356 new jobs since its launch in September 2012. We look forward to continued collaboration with Enterprise Ireland and the Departments of Business, Enterprise and Innovation, and Foreign Affairs and Trade”

A number of IMQS corporate members are also members of the Geoscience Ireland business cluster including Quarry & Mining Equipment Ltd, Golder, Gavin & Doherty Geosolutions (GDG), LTMS Limited, CDM Smith, Roadstone Ltd., Irish Drilling and Lagan Asphalt .

Key metrics from the recent survey revealed that:

  • Total turnover for 2018: €1,024,519,082; SMEs accounted for €299,609,082 (29.24% of total).
  • 74% of Geoscience Ireland companies reported turnover growth, 21% reported a decrease and 5% reported no change..
  • Total net new jobs for 2018: 253; SMEs accounted for 198 jobs (78.26%).
  • Since 2012, Geoscience Ireland companies have created 1,356 jobs.
  • 35.7% of turnover came from international markets in 2018.

Sean Finlay, Director of Geoscience Ireland and Past President of IMQS, said; “We are delighted to see the continued growth in our members’ turnover and job creation. We will continue to work with our members to source and secure commercial contracts in overseas markets”.

 

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