Salesforce’s Irish subsidiary reports €1.9bn in 2019 revenues

Pretax profits and turnover jumped at the Irish subsidiary of software giant Salesforce last year.

The company, which last year announced plans to create 1,500 new roles in Dublin, posted pre-tax profits of €30 million in the 12 months ending January 2019. This marks an 88 per cent rise on the €16 million reported a year earlier.

Turnover was up 93 per cent to €1.875 billion from €971.3 million in the prior year.

Salesforce, which currently employs nearly 1,400 people in the Republic, provides customer relationship management (CRM) solutions to clients that include Accenture, Intel, Adidas, Merck and Sky. Founded by Marc Benioff and Parker Harris in February 1999, the company is headquartered in San Francisco. It opened its first international hub in Dublin just a year after it commenced operations.

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Core functions at the Irish operation include sales, customer service, operations and engineering.

A breakdown of sales for the Irish subsidiary shows €1.8 billion in turnover came from reseller fees, with a further €61 million deriving from commission revenue.

The company also recorded revenues of €3.9 million from data hosting and €2.29 million in development services.

Expenses

Newly-filed accounts for SFDC Ireland show expenses ballooned in fiscal 2019, rising 93 per cent to €1.845 billion from €955 million a year earlier.

The company employed 1,370 people at the end of the reporting period, an 18 per cent rise on the 1,158 working at Salesforce in Dublin in the prior year.

Staff costs totalled €186.3 million last year, which included €11.67 million in share-based payments.

Directors’ remuneration totalled €1.14 million, up from €1.06 million in 2018.

The technology company unveiled plans for a new 430,000sq ft eight-storey campus in Dublin's Docklands a year ago. Salesforce Tower Dublin, which consists of four interconnected buildings, is being developed by Jonny Ronan and US investment group Colony Capital.

The developer has made a number of attempts to secure permission to add further floors to the scheme, none of which have been successful.