Suir Engineering has reported record-breaking financial performance as it celebrates 40 years in business.

The Waterford headquartered company revealed that there was €429 million of turnover in 2023 which represented 41 per cent year over year growth.

CEO of Suir Engineering, John Kelly, has confirmed that the company improved its liquidity base over the past 12 months and operated profitably, achieving an EBITDA of 5 per cent.

These financial results affirm Suir Engineering's position as one of the largest providers in its sector. It provides mechanical, electrical, instrumentation and high-voltage engineering services to countries beyond Ireland such as Sweden, Denmark, Germany, and more recently, the UK and Finland.

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In addition to its work in its chosen sectors of Pharmaceutical, Life Sciences and Data Centres, Suir Engineering has grown its project portfolio in Energy Power & Renewables (EP&R).

Mr Kelly, said: "Our EP&R business has operated for over 20 years and has quadrupled in size in the last six to a division now generating €120 million per year, carrying out ground-breaking and first-of-a-kind electrical power projects across the UK and Ireland.

"We are marking our 40 anniversary in 2024 and already, it’s shaping up to be our strongest ever given the €500 million order intake last year. This is a testament to our highly-skilled workforce and a demonstration of the confidence our clients have in our work and our people. Having closed the 2023 management accounts, we’re really pleased to be able to lay such strong foundations for 2024 and are optimistic that we will achieve another record-breaking performance, with new opportunities on the horizon."

Kelly confirmed that Suir Engineering will further expand its employee base, increasing it from over 1,500 to more than 1,700 in 2024, aligning with and supporting the company’s growth strategy for 2024 and the years ahead.