Annual Report & Review – 6% increase in turnover in 2016

by
on July 20th, 2017

We recorded a 6% increase in turnover in 2016, from €2.86 million in 2015 to €3.03 million last year. Full details can be found in our Annual Report & Review for 2016, which we published today. Overall, the report shows that we are in a solid financial position, ending 2016 with €3.6 million in members’ funds and €6.3 million in liquid funds and investments. Deferred income on the balance sheet increased by 4% in 2016, to €2.05 million, up from €1.97 million in 2015.

2016 operational highlights

A total of 34,615 new .ie domains were registered in 2016, a slight 1.7% decrease when compared to 2015 (35,225).

The IEDR’s multi-stakeholder Policy Advisory Committee (PAC) was extremely busy in 2016, bringing about a number of key policy changes. These included new rules to allow one- and two-letter domains (for example t.ie and fg.ie) and domain names with fadas on vowels (for example. fáilte.ie); a secondary market to allow the private resale of .ie domains was introduced

We also published two editions of our flagship research, the dot ie Digital Health Index, which measures and analyses the ‘e-health’ of Irish SMEs. A separate report, the Domain Profile Report analyses the geographic spread of dot ie domains. It was also published twice in 2016.

On 27 October 2016, we hosted Ireland’s second Internet Day at the Mansion House in Dublin. Headlined by businesswoman and serial entrepreneur Emma Sinclair MBE, the youngest ever person in the UK to take a company public, the event focused on Ireland’s SME community and the importance of e-commerce.

IEDR’s OPTIMISE Fund continued in 2016, supporting 15 Irish SMEs with over €120,000 worth of services to develop a modern, e-commerce-enabled website.

Comment

IEDR will continue to invest in the promotion of the .ie namespace this year and in 2018. In particular, we will push ahead with new domain policy changes, allowing users easier access to .ie domains while preserving and improving existing security requirements. In October, the company will host Ireland’s third annual Internet Day, headlined by a major international tech CEO.  Commenting on the annual report, David Curtin, Chief Executive of IEDR, said:

“2016 was a solid year for IEDR, despite macroeconomic uncertainty, new domain choices and new global trends in domain ownership, such as shorter domain life-cycles. Moving forward, policy changes introduced by the PAC will continue to ensure that dot ie is the domain name of choice for business owners who need a presence online, with a website or email address that is Identifiably Irish.

“Looking to the end of 2017 and into next year, we are confident that continued strong investment in our Strategic Development Fund will consolidate and grow IEDR’s position in the Irish domain market, with new .ie domain initiatives, policies and events.

“We will continue to work shoulder to shoulder with Ireland’s SME community to bring them online and introduce them to the benefits of e-commerce. This is a priority: Ireland’s e-commerce market is set to grow to €14 billion by 2021, but with less than a third of our SMEs trading online, businesses risk losing out to online international competition.”

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