Dublin-headquartered Jones Engineering expects to achieve a record €1.9 billion turnover this year as it capitalises on the boom in data centre development.
According to its most recently filed accounts, the company generated a turnover of €1.6 billion in 2025, up from €1.28 billion the previous year.
Operating profits rose by 65 per cent to €170 million, giving the business a margin of 10.6 per cent.
“The results reflect the continued growth and diversification of the business, with international operations making an increasingly important contribution to overall performance,” it said.
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The company, which specialises in building large-scale engineering projects for the tech and life sciences sectors, said the momentum had continued into 2026, “with turnover projected to exceed €1.9 billion, supported by a strong pipeline of work extending into 2027 and beyond”.
The company generates more than half of its revenue from overseas.
In the accounts, the directors note the company faces inflation pressures associated with macroeconomic conditions.
“Our global operations are exposed to heightened geopolitical tensions, with ongoing conflicts across the world affecting lead times on certain materials,” they said.
“In addition, we are seeing this impact currency markets with significant fluctuations seen over the recent year.”
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Founded in the 1890s, Jones Engineering was acquired by US group Cathexis Holdings in 2022 for an undisclosed sum. The deal saw the group’s longstanding chairman and majority shareholder Eric Kinsella exit the business.
Cathexis is a privately owned holding company, run by billionaire chief executive William Harrison. It is based in Houston, Texas, and holds investments ranging from property and energy to private equity.
The latest Jones accounts indicate the company employed 2,741 staff in 2025, up from 2,501 the previous year. Wages and salaries amounted to just under €243 million.
“2025 was another strong year for Jones Engineering, with increased turnover reflecting the continued growth of our international operations,” chief executive Stephen McCabe said.
“While we remain the market leader in our sector in Ireland, our business continues to evolve and diversify, with international markets making an increasingly important contribution to our overall growth.
“Our focus remains on building on this progress, delivering complex, high-value engineering projects and continuing to expand our presence across Ireland, UK, Europe and the Middle East.”
McCabe said he was “encouraged by the strength of our pipeline, with work extending into 2027 and beyond, and remain confident in the opportunities ahead”.
The global data centre boom is being driven by soaring demand for artificial intelligence (AI). Investment in AI infrastructure will hit a record $31.6 trillion through to 2050, according to baseline projections in PwC’s recent global data centre outlook report.
