IEDR reports 8.7% increase in turnover for 2019
Significant investments made to enhance infrastructure, expand and protect .ie domain namespace
22 July 2020 | 0
IE Domain Registry’s turnover increased by 8.7% year-on-year in 2019, according to its latest annual report.
The company, which administers and manages the .ie country domain, reported turnover of €3.61 million in 2019, up from €3.32 million in 2018.
An operating profit of €84,796 was reported, which was down from €147,558 in 2018. However, the company said it incorporated expenditure of €216,500 from its strategic development fund to finance promotional, marketing, and customer service activities that expand and protect the .ie domain namespace. It was also reported that the company ended the year with €4.1 million in members’ funds, which was annual increase of 5.9%.
Further, the report revealed that at 50,167, .ie domain registrations in 2019 were down slightly from 2018’s figures, when a record-setting 51,040 registered.
“2019 was a year of building foundations – foundations for expansion and also foundations for the future security, stability, and resilience of the infrastructure that underpins the .ie domain namespace,” said David Curtin, chief executive of IE Domain Registry. “With ongoing emphasis on strategic execution, IE Domain Registry delivered a solid performance, with net growth of over 18,000 .ie domains, and ended the year in a solid financial position…”
The company carried out an extensive due diligence process in 2019, and recently announced plans to licence a state-of-the-art registry management system for domain registrars. In partnership with the Canadian Internet Registration Authority (CIRA), the new system will assist the channel registrars in driving their own growth and expansion in the coming years.
“We set the foundations for customising a new, state-of-the-art registry management system for the .ie domain namespace,” said Curtin. “This development will ensure that our technical systems can support the long-term growth of .ie domains and allow our registrars and channel partners to drive their own growth and expansion throughout the coming years.
The company added that it will continue to monitor the health and safety consequences and risks to the business arising from the Covid-19 pandemic. It said the dramatic uptake in the use and application of digital tools during the lockdown has further motivated its mission to be a digital advocate for SMEs, citizens, and communities alike.
“In 2019 we also continued to advocate for the digitalisation of SMEs through events and research like the SME Digital Health Index, Digital Town, and Optimise,” continued Curtin. “We believe that there is a need to provide supports and shoulder-to-shoulder assistance to SMEs so that they can leverage the benefits of a strong, modern digital presence using an identifiably Irish .ie web address.
“With business premises closed and people all over the world working from home, the uptake and use of digital tools has accelerated dramatically. 2020 heralds the next wave of digitalisation – the first six months of the year have highlighted the dramatic positive effects that digital tools can have, saving time and money and providing efficient new ways of working, particularly for remote workers.”