Revenues soared at the operator of Emerald Park in Co Meath on the back of the opening of the longest intertwining family and thrill roller coasters in Europe.
Accounts filed by the Coyle family-owned Ashbourne Visitor Centre Ltd show that revenues in 2024 increased by €5.3 million or 20 per cent to €31.3 million from €25.99 million.
Those higher revenues helped deliver a 24 per cent surge in pretax profits to €5.49 million.
The increase in business followed the fun park’s €22 million investment in new roller-coaster rides Na Fianna Force and The Quest along with another new ride called The Celtic Dreamer which together form Tír Na nÓg that opened at the park in May 2024.
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Prior to the new roller coasters coming into operation, Emerald Park had seen pretax profits slide by 23 per cent in 2023 to €4.43 million on the back of a 5 per cent reduction in revenues as business was impacted by a wet Irish summer.
The park had alerted planners, when seeking permission for the new roller-coaster, that, without it, “the longer-term viability of the park would be brought into question”.
In their report, the directors state that they “are satisfied with the performance of the company given existing market conditions”.
On the principal risks faced by the business, the directors point to challenges from competition and margin pressures. The directors state that the company is well positioned to manage these risks “and are confident of continued growth”.
Looking to the future, the directors say they plan to expand the park by building new attractions.
The accounts show that the firm’s earnings before interest, tax depreciation and amortisation (Ebitda) totalled €10.6 million for 2024 compared to €8.1 million for 2023.
Emerald Park – formerly Tayto Park – was opened by the late Ray Coyle in 2010. His son, Charles, is now general manager of Emerald Park, with Rosamond Coyle and Natalya Coyle also serving as directors of the business.
Numbers employed at the fun park increased by 10 to 354 in 2024 with staff costs rising 21 per cent to €9.85 million.
At the end of December 2024, the business was sitting on accumulated profits of €37.53 million. Cash funds increased from €7.78 million to €8.75 million.
