Utility company NTR has reported a full-year loss of €76.4 million for 2008, down from €462.8 million the pervious year, after a one time-gains were not repeated.
These included the sale to the Government of the West-Link bridge concession and the disposal of its interest in wind energy firm Airtricity from which it received €1.3 billion in cash.
NTR said revenues during the year to the end of March rose 15 per cent to €485.5 million.
At the end of the year the company had net cash reserves of €101.4 million, including borrowings of €70 million held by subsidiaries.
Total assets stood at €1.51 billion, down on the prior year due to the return of €258 million in cash to shareholders as part of a redemption offer.
Chief executive Jim Barry said the shape of the company had changed over the last year following the sale of West-link and Airtricity and the additional investments ion renewable businesses.
He said the majority of the operating losses were related to development costs for its solar and wind businesses.