Cash cost of Storm Éowyn to Coillte likely to be 'more than €80m'
"Unprecedented damage" caused by Storm Éowyn will likely cost Coillte more than €80 million, the semi-state forestry company confirmed today (May 1).
Coillte today published its financial and operational performance for 2025.
It is responsible for managing 440,000ha of primarily forested lands - or 7% of Ireland's total land area.
In its latest end of year financial statement the semi-state company reported Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) of €66.5 million for 2025.
It also recorded an operating loss of €33.5 million for the year, compared to an operating profit of €18.7 million in 2024, primarily because of the negative impact of Storm Éowyn.
Coillte currently estimates that the total cash impact of the storm, which affected around 14,500ha of Coillte's forests, will be "in excess of €80 million" with the salvage of windblown sites expected to continue until mid-2027.
Coillte
According to Coillte's chief executive, Imelda Hurley, the semi-state forestry company "delivered a solid financial performance" - due to a range of cost saving measures implemented throughout 2025.
Hurley said: "The performance reflects a range of cost saving measures implemented throughout 2025. The market environment in 2025 continued to be challenging across all our core markets.
"Ongoing geo-political tensions have led to continued end market demand uncertainty, curtailing any expected demand recovery.
"At year-end, Coillte had net cash of €26 million, placing the business in a solid financial position as we manage the storm related recovery, and focus on optimising our operational, financial and strategic delivery.”
Separately according to the chair of Coillte, Vivienne Jupp, the equivalent of more than twice Coillte’s annual harvest area - approximately 14,500 hectares - suffered windblow damage because of Storm Éowyn.
"The board acknowledges the scale and complexity of the work ahead, and that this effort will continue throughout 2026 and 2027.
"Looking ahead we remain committed to our long-term ambition of managing greater areas of our estate primarily for nature, while also ensuring the productive areas are carefully managed to optimise the long-term supply of sustainably grown, certified Irish wood, supporting the delivery of new low carbon homes and rural jobs," Jupp added.
Financial performance
The Group’s EBITDA for 2025 was €66.5 million, excluding the impact of storm related costs, which is slightly higher than the €62 million achieved in 2024.
The impact of Storm Éowyn has resulted in an "exceptional charge" of €51.3 million in the group's profit and loss account.
During 2025, €1.5 million was paid as a final ordinary dividend to shareholders in respect of 2024.
However as a result of the storm's impact, no ordinary dividend is payable to shareholders in 2025.
The company stated it has €150 million available in revolving debt facilities, of which none was drawn as of December 2025.
At year end 2025, Coillte had a net cash figure of €26 million.
Operations
In 2025, Coillte reforested almost 6,000 hectares of lands with 15 million trees planted.
Sawlog sales of 1.4 million M3 were behind 2024 volumes of around 1.5 million M3.
Coillte said this was caused by the increased availability of private material as a result of Storm Éowyn.
While sales of MDF and OSB products were consistent with the previous years sales of around 700,000 M3.
There was a 10% increase in the number of visits to Coillte's most popular recreational forests year-on-year, with its flagship destination, 'Beyond the Trees Avondale' in Co. Wicklow, recording almost 350,000 visits last year.
In June last year, in collaboration with South Dublin County Council, Coillte launched a housing project on Council land.
The project in Clondalkin, Co. Dublin is to be completed this year and will see the construction of "27 age-friendly homes to A1 BER" standard, using "low carbon home-grown timber from Ireland’s forests."
In its latest financial report, Coillte also highlights the role it has played in "enabling over 50% of Ireland’s onshore wind energy generation."
The semi-state company made progress on its objective to develop 1GW of renewable energy by advancing €18 million of shareholder loans to its joint venture with ESB - FuturEnergy Ireland, in 2025, for the ongoing development of its wind-energy portfolio.
Coillte said it marked a "significant environmental milestone in 2025", having 30% of its estate, i.e. 134,000ha of land, now being managed "primarily for nature and biodiversity across Ireland."
Coillte employs over 800 people directly, and around 1,200 contractors, working across three divisions; Coillte Forest, Land Solutions and MEDITE SMARTPLY - its "market leading" panel board business, which exports to over 20 countries worldwide.
Future outlook
Coillte's "strategic vision" for the future of its forest estate, launched in 2022, identifies 11 ambitions to sustainably balance and deliver the multiple benefits from its forests for society.
Some of these ambitions include:
- Generating an additional 1 GW of renewable wind energy to power 500,000 homes by 2030;
- Produce 25 million M3 of certified Irish timber, to support the construction of 300,000 homes by 2030;
- Promote the use and benefits of wood products to increase the level of timber homes from 20% to 80% by 2050;
- Enable the investment of €100 million in "world-class" visitor destinations to support growth in tourism and recreation by 2030;
- Create 1,200 new jobs in rural communities to support the just transition to a low carbon economy.
Against the backdrop of the unrest in the Middle East, Coillte said its continued long term view, is that end-market demand is expected to grow for wood-based products, as consumers increasingly look to substitute fossil based products with wood-based materials.
According to Coillte, Ireland's forestry sector supports 9,000 jobs and contributes approximately €2.3 billion to the Irish economy annually.
