IE-Annual-Report-&-Review-2024

Chief Executive’s Report Chief Executive’s Report During 2024, we accelerated the development of our expertise in data analytics and data visualisation, producing innovative cybersecurity risk-based tools and informative DNS data insights. We also progressed our mission to provide a trusted and resilient .ie domain. Operational losses Operating losses of €471k for the year 2024 compared to a loss last year of €629k. The result for 2024 is predominantly explained by ongoing regulatory, compliance and policy development costs along with setup costs associated with implementing the Company’s new strategic initiatives, all of which are within the parameters of the corporate reserves management policy. Administrative expenses decreased by €53k (1.1%) from €4.84 million to €4.79 million in 2024, in line with the Company’s Strategic Plan 2024 and its operational plans for 2024: ▶ Technical Services expenditure decreased by €23k (2.6%) compared to the prior year, which reflected the ongoing costs of ISO compliance and improvements in cyber security defences and preparations for EU cyber regulatory expansion. The company continued to provide funding for policy responses to technical abuse that uses the DNS. ▶ Marketing and promotion expenditures decreased by €75k (12%), largely attributed to a niche advertising campaign and reduced media coverage for our programmes and reports. Financial investment continued for the .IE Digital Town awards programme in 2024, being the final year of a planned four-year €1 million programme to help digitalisation in Ireland’s towns. ▶ Employment costs decreased by €17k (0.7%) in 2024 to €2.49 million reflecting the employment of new skill sets to implement the company’s new strategic initiatives; inflation-related cost of living salary increases for all staff; offset by moderated market rates associated with staff churn. Prudent reserves management Within the parameters of the Company’s Reserves Management policy, we have Designated Funds which are set aside within reserves, to cover the Company’s commitments to its multi-year programmes. A Statement of Changes in Capital and Reserves is included this year in our reporting, in the interest of providing transparency for stakeholders. The programmes meet the Company’s enterprise risk criteria. They are regularly reassessed to ensure they remain within the corporate risk appetite and risk tolerance levels, approved by the Board, and reviewed annually as part of the formal Risk Management process. Our Risk Report on page 12 provides more information. In 2024, the programmes included the digital town initiative, our new centre of expertise in data analytics and our national digital development partnerships. These are closely aligned with, and support, the Government’s national Digital Strategies on Cyber Security, Harnessing Digital – extended in 2024 to include proportionate regulation. Addressing the digital data deficiency is essential to help national policy decision-makers to design and implement initiatives to close the digital divides – prioritising urban-rural and socio-economic divides. The financial position of the Company at 31 December 2024 remains solid. Members’ Funds (reserves) increased by 7.2% to €5.74 million by the end of December 2024 from €5.36 million at December 2023. Business Review At the end of 2024, there were 326,567 .ie domains on the database. There were 45,941 new registrations in the year, a decrease of 5.2% on 2023 (48,458). These registrations were offset by 47,622 non-renewals/deletions which were down 3.7% on 2023 (49,476 domains). This combined effect means that the small net decrease of 1,681 in 2024 compares unfavourably to the net decrease in 2023 (1,016 domains). On a positive note, we continue to gain market share against .com with .ie at 54.2% of hosted domains – and our metric of domains per capita is respectable – as detailed on page 26. IE Domain Registry CLG t/a .IE / Annual Report & Review 2024 5