How much did Ballina-based manufacturer Hollister make last year?

The Irish operation of medical device manufacturer, Hollister, based in Ballina, has reported a profit after tax of €21.4 million for the year ended December 31, 2024, representing a modest increase from the €20.8 million recorded in the previous year.

The Company, which manufactures ostomy care products, wound care, critical care products and VaPro intermittent catheters at its Mayo facility, saw turnover rise marginally to €331.9 million, up from €330.4 million in 2023. However, gross profit declined slightly to €101.9 million from €103 million year-on-year.

Back in July, the Ballina-based company, which will celebrate 50 years in the North Mayo town next year, announced an €80 million R&D investment and a digital transformation project that will create approximately 50 new jobs in Ballina.

The multimillion-euro investment aims to elevate Ballina into a global epicentre of expertise through novel device design and extensive site-wide training, setting a benchmark for digital transformation within Hollister's global network.

This project is supported by the Irish Government through IDA Ireland.

Staff costs rise by eight million

The recently released financial statements show manufacturing volumes of ostomy pouches increased during the period, with the company continuing to expand its product portfolio across existing and new markets. VaPro catheters are now sold in 15 European countries, the United States, and Australia.

Employment at the group averaged 1,551 people during 2024, down from 1,575 in 2023. Staff costs rose to €98.6 million from €90.7 million, reflecting wage increases and pension contributions.

At year-end, the group held net assets of €266.4 million, up from €243.3 million in 2023.

Directors acknowledged ongoing challenges in the healthcare sector, noting that constrained budgets across European health authorities are creating pressure on manufacturers to deliver cost-effective products while maintaining quality standards.

"The outlook for 2025 is for continued growth in both Ostomy and VaPro businesses arising from new product introductions and product launches," the directors stated in their report.

The company maintains an unsecured bank loan of €23.2 million, due for repayment in May 2028, and continues to invest significantly in research and development, with the global continence care research team based in Ireland.

Hollister ULC is ultimately owned by The Firm of John Dickinson Schneider, Inc., a US-incorporated company.