PM Group reports overall revenue of €494 million in 2024
PM Group has announced its financial results for the year ended 31 December 2024 and an update on trading for 2025.
- PM Group reported overall revenue, which includes subcontractor revenue, of €494 million in 2024. The decrease was due to lower subcontractor revenues on certain client projects
- Underlying professional services fee revenue grew by 5% year-on-year
- €34.8 million operating profit, a 2.7% increase on the previous year
- Net assets remained strong at €164 million which, combined with minimal debt, underpins the Group’s capacity to support further investment and drive growth
PM Group’s total workforce across Europe, North America and Asia is currently at 3,750 people, 1,400 of whom are employee shareholders in the business.
All operating regions delivered profits in 2024, underscoring the resilience and balance of business across its global markets. Trading in 2025 remains positive with a strong pipeline of projects.
Anthony O’Rourke, CEO of PM Group, said: “I’m pleased to report that we delivered a strong and resilient performance in 2024 despite a challenging global environment. The operational and financial results are a testament to the fantastic efforts of our people across the organisation.
“Our largest market, Ireland, experienced continued growth and multinational client investment, while our Europe region had a very good year with broad-based revenue growth. The UK team contributed strongly to major projects internationally through our multi-office execution model.
“In the USA, we continue to expand our footprint as we deliver high-profile projects for clients in the world’s largest life sciences market. In 2025, we are seeing increasing opportunities to bid for substantial projects in the USA, given our existing track record with USA companies and the wave of large-scale investment announcements.
“Asia also performed well. We completed a number of high-profile projects in China and Singapore and continued to grow our design capability in India to support projects globally.
“During 2024, we also launched a number of new strategic initiatives and made significant efforts in carbon reduction, to enhance our project delivery. Overall, 2024’s performance and progress have laid a strong foundation for the next phase of our growth.”
Brendan Jennings, Chairperson of PM Group, added: “Our performance in 2024 is a credit to the dedication and professionalism of our teams across PM Group. We are especially proud of the strides we have made in health, safety and wellbeing, reflected in our strongest safety performance to date.
“This was the penultimate year of our current strategic cycle. We have initiated a new strategy that will run from 2026 to 2029 with ambitious growth targets and clear priorities to drive our future success.
“With a strong leadership team and a resilient, dynamic organisation, we are very confident that PM Group will continue to grow sustainably and achieve remarkable success in the years ahead.”
Outlook 2025
The Group entered 2025 with positive momentum, carrying forward the strong project activity from late 2024. There is a healthy pipeline of projects across key sectors, services and regions. In 2025, PM Group will continue to invest in strategic priorities including expanding the business in the USA and Europe and driving internal digital transformation to enhance service offerings.
Overall, 2025 is anticipated to provide a strong foundation for PM Group’s new 2029 strategy, and the company is confident of continuing its steady growth trajectory in its major markets.
Pictured above: Anthony O'Rourke, CEO, Brendan Jennings, Chairperson and Rosita Fennell, CFO.
