The CIF Top 50 Contractors 2022 has been published as part of the June issue of Construction magazine.
This year’s CIF Top 50 Contractors 2022 gives an insight into the inner working of Ireland’s construction industry at the end of 2021. Just as 2021 was a year defined by major world events such as the pandemic and Brexit, this year we continued to see the fall-out of Covid-19, major disruptions to the supply chain and the on-going conflict in the Ukraine.
The CSO’s recent Production in Building and Construction Index report shows building and construction output was down 2.4 per cent this Quarter 1 compared with the end of 2021. This, it says, is a reflection of some of the economic impacts of the pandemic. On an annual basis, however, volume increased by 23.0 per cent in Quarter 1, 2022.
Civil Engineering showed the largest quarterly decrease falling 11.8 per cent, while Residential increased by 2.8 per cent in the same period. Non-Residential decreased by 1.7 per cent. But, says, CSO statistician Sorcha O’Callaghan, as non-essential construction sites were closed in early 2021, this should be kept in mind while interpreting the annual sectoral changes.
The CIF Top 50 Contractors 2022 have a total turnover of €12.89bn for 2021, an increase of €1.52bn on the previous year’s €11.37bn. A total of €8.54bn in construction activity was recorded in Ireland, up from €7.12bn the previous year. The Top 50 contractors exported over €4.36bn in construction expertise, €110m more than the previous year’s €4.25bn.
The entry figure for inclusion in this year’s Top 50 was €47.24m.
Some indicators suggest a strong pipeline of housing for 2022, with 33,006 commencements in the 12 months to February 2022 (highest rolling 12-month total since 2008), and 42,991 units granted planning permission in 2021, representing a four-fold increase on 2011. But it is also recognised that the time frame from planning to commencement and commencement to completion is now taking longer than what was previously witnessed by the residential sector.
Many within the sector would expect current targets for 2022 to be met, but are cautious over 2023 expectations, which could reach 25,000-26,000 based on current data available to the industry.
Read the Top 50 edition of Construction magazine here:
