Sicon Limited, the parent company of John Sisk & Son’s construction and related businesses in Ireland, the UK and Europe, has reported a strong financial performance for the year ended 31 December 2025, with profit before tax increasing by 27.7% to €74.2m.
Operating profit increased by 37.9% to €67.0m from €48.6m, while gross margin improved to 7.6%, up from 6.0% in the prior year, reflecting improved performance across the Group’s operations and a continued focus on profitable growth opportunities. Group turnover was €2.624bn, compared to €2.752bn in 2024. The Group delivered stronger profitability and improved margins from the prior year, demonstrating the benefits of its disciplined approach to project selection, delivery and operational performance.
The Group maintained a strong capital position throughout 2025. Cash at year end stood at €338.1m, with a further €54.2m held in short-term investments, bringing total cash and investments to €392.3m. The Group remained debt free at year end.
In October 2025, the Group completed the acquisition of Farrans Limited, expanding its civil engineering and infrastructure capability across Ireland, Northern Ireland and Great Britain. The business operates on a standalone basis within the wider Sisk Group and provides us with additional expertise across key infrastructure sectors including water, energy, transportation, aviation and marine projects.
* Over 90% of the Group’s turnover is derived from contracting and related activities. The Group figures above also incorporate the results of Korine Property Partners, Sensori Group, Sisk Rail, Vision Built, and Origo Distribution.
Commenting on the results, Sisk CEO, Paul Brown, said: “2025 was another strong year for Sisk. We experienced increased profitability, improved margins, and continued to strengthen our market positioning in our key market sectors while maintaining a disciplined approach to growth and investment. “Our performance in the year reflects the quality of our order book, the expertise of our teams and the consistent focus across the business on disciplined growth, innovative delivery excellence and a focus on improving our quality of earnings.
“We also welcomed Farrans to the Group during the year, broadening our base and further strengthening our infrastructure and civil engineering capability across Ireland and the UK. With a strong balance sheet, no bank debt and good pipeline visibility across our markets, we have entered 2026 in a strong position. Demand remains positive in most of the sectors in which we operate, and we remain focused on delivering sustainable growth while continuing to create long-term value for our clients, partners and communities.”
Ireland
Sisk’s Irish operations continued to benefit from strong levels of activity across the key sectors it operates in, including data centres, life sciences, advanced manufacturing, pharmaceuticals, commercial development, residential and civil engineering.
Turnover in Ireland was €1.379bn in 2025, supported by a strong order book and a high-quality pipeline of opportunities across both public and private sector markets. The business continues to play a leading role in the delivery of complex projects that support critical infrastructure, economic development, and investment across the country.
Key project highlights in 2025 include:
- The Frame, Baggot Street completion
- Adare Bypass, Co. Limerick
- Astra Zeneca, Ballycoolin, Dublin
- University Limerick Hospital, Limerick
- Bon Secours Hospital, Limerick
UK
The UK was a significant growth market for Sisk in 2025, driven by activity across residential, commercial, infrastructure and specialist rail services. Performance during the year was underpinned by several large-scale residential and commercial developments, while JSS Rail and Fuse Rail continued to perform strongly and remain well positioned to secure new work in 2026. The UK business enters the year ahead with a strong order book and good visibility into future workload.
Key project highlights in 2025 include:
- Etihad Stadium expansion project
- Silvertown, London completion
- Celebrating 20 years at Wembley Park
- Moderna, Oxfordshire completion
- York Central
Europe
Sisk’s European operations continued to perform strongly in 2025, and the business was active in several mainland European markets including the Netherlands, Sweden, Belgium, Germany and Denmark. The business remains focused on the delivery of mission critical facilities across data and ICT, life sciences and advanced manufacturing for multinational clients. The business has secured several large-scale projects that will be delivered over the coming years, providing a strong foundation for continued activity across mainland Europe
Outlook
Sisk enters 2026 from a position of financial strength, supported by a strong balance sheet, high levels of liquidity and a quality order book across Ireland, the UK and Europe. A significant proportion of planned activity for 2026 is already secured and underway, with good visibility into 2027. The Group’s advance order book stands at €7.2bn. Sisk will continue to focus on the sectors where it can deliver long-term value and leverage its technical expertise, including infrastructure, healthcare, energy, data centres, life sciences, advanced manufacturing, high-rise residential and complex construction. As investment continues across these sectors, Sisk is well positioned to support clients in delivering critical projects while pursuing sustainable and profitable growth across its core markets.