The main Irish arm of computer giant Oracle has paid €730 million in cumulative dividends to its US parent over the past 18 months.
Accounts for Oracle EMEA Limited show it made a dividend payment to Oracle EMEA Holdings Limited – the immediate parent of the company – of €371 million in March.
This followed dividend payouts of €210 million in May last year and €149 million the previous November.
The latest accounts show the business generated a turnover of more than €9.5 billion for the 12 months to the end of May last year, which is almost a fifth of the US group’s entire revenue.
The Irish-based unit recorded an operating profit of just under €384 million, up from an operating loss of €93 million for the previous period.
While the accounts say there was “no significant change in operations” during the current year, they noted that “as a result of external market factors, the company experienced foreign exchange losses of €50.7 million during the year, with foreign exchange losses recognised primarily on non-euro denominated balances with parent, fellow subsidiaries and subsidiary undertakings.”
The directors said they considered the direct impact of US, European Union, and other jurisdictional tariff and non-tariff trade measures to be “minimal”.
“Such measures are dynamic and the directors will continue to actively monitor the situation and may take further actions that alter the company’s business operations as may be required,” they said.
Patrick Guilbaud on bringing fine dining to Ireland, retirement plans, and not getting that third Michelin star
Last June Oracle reported full-year revenues of $53 billion, up 6 per cent on the previous year, on the back of increased demand for its cloud services and AI training models.
At the publication of third quarter results in March this year, Oracle chairman and chief technology officer Larry Ellison said the computer giant was on schedule to double its data centre capacity this year.
“Customer demand is at record levels. Our database multicloud revenue from Microsoft, Google and Amazon is up 92 per cent in the last three months alone,” he said.
“GPU (graphics processing unit) consumption for AI training grew 244 per cent in the last 12 months. And we are seeing enormous demand for AI inferencing on our customers’ private data.”
