Turnover of Construction Top 50 exceeded €10bn in 2019
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The Construction Industry Federation (CIF) Top 50 Contractors 2020 had a combined turnover of just over €10bn in 2019, according to a survey carried out by Construction magazine on behalf of CIF.
This was an increase of €1.7bn on the previous year's total turnover figure of €8.3bn.
The report recorded €6.7bn in construction activity in Ireland, an increase of €800m on the corresponding figure of €5.9bn for the previous year.
The survey also found that the top 50 contractors exported over €3.3bn in “construction expertise” last year, with a continuing surge of mechanical and electrical contractors in the top 10.
Enterprise Ireland has reported a 19% increase in construction exports to €2.24 billion and a 9% increase in engineering, making construction the second-largest export category for EI clients behind Ireland’s food industry.
CIF Director General, Tom Parlon, said the industry is gaining “an increasing foothold” in the UK, Europe, particularly in the Nordic region, the Middle East and the USA.
“Irish construction companies are increasingly sought out by global corporation HQs to ‘manage’ billion-dollar construction projects due to our expertise,” he said.
The global construction market is forecast to grow by 85% to $15.5trillion by 2030, and Irish companies are “well-placed” to dominate niches worth billions Mr Parlon said.
Over the past few years, the Top 50 CIF Contractors listing has seen a year-on-year increase in the turnover. In 2016, the total turnover was €4.9bn, jumping to €6.7bn in 2017, €8.3bn in 2018, and €10bn in 2019.