EBay’s main Irish unit pays €3m dividend as profits fall 12%

The main Irish subsidiary of eBay paid a €3 million dividend to its parent last year despite a 12 per cent decline in profits, according to newly filed accounts.

The online auction site, which set up operations in Ireland in 2003, employs more than 700 people in Ireland. It announced plans to close its operation in Dundalk earlier this year with the loss of 150 jobs after its former sister company PayPal served notice on the company due to its intention to expand its business locally.

The company spun off PayPal last year, having acquired the company for $1.2 billion in October 2002.

The accounts for eBay Europe Services Limited show full-year pre-tax profits fell to €5.4 million for the 12 months ending December 31st, 2015, from €6.1 million a year earlier. The drop follows on from a 6 per cent profit decline in fiscal 2014.

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Operating profits

The company, which provides customer support services, corporate administration services and other shared services on behalf of the wider group, reported turnover of €60 million, up from €59.6 million the previous year. Operating profits declined to €5.2 million from €5.9 million a year earlier.

The average number of people employed by the company decreased from 735 in 2014 to 717 last year with staff costs, including wages and salaries, totalling €41.8 million, as against €41.5 million for the 12 months ending December 2014.

A breakdown of employee numbers show 653 people worked in sales and marketing with the rest employed in administrative roles.

Directors’ remuneration totalled €184,000, down from €351,000 in the previous year. The company had shareholder funds of €38.5 million.