According to medical device firm Cook Medical, the costs associated with the tariff policy of Donald Trump will, wherever possible, get passed onto the US customers.
This happens to be as per the directors at one of the largest employers in the Midwest—Cook Ireland Ltd., which happens to employ 664 people that are based at National Technology Park at Limerick in Ireland.
Apparently, there are new accounts that show that Cook Ireland went on to return the pre-tax profits of €13.95m in 2024 as compared with a pre-tax loss of €5.4m that was witnessed in 2023.
This sort of a return to profit for this firm, which is US-headquartered, followed revenues growing by 12% from €127.14m to €142.96m.
It is well to be noted that the company had a post-tax profit amounting to €17.35m after recording a corporation tax credit amounting to €3.4m, and this grew mainly due to the credit of €4.75m for research and development tax.
The R&D spend of the company in 2024 was around €25.7m, and the number of employees grew from 662 to 664 as staff expenditures saw a slight dip from €41.72m to €41.69m.
It is well to be noted that the aggregate pay to the directors almost doubled to €1.4m from €750,607 as the number of directors also saw an increase from three for the major part of 2023 to 5 in 2024.
Apparently, the company also paid dividends in 2024 of €500,000 as compared to the dividend payout of €1.8m in 2023.
In the company’s directors’ report that was signed off ahead of President Donald Trump and the European Commission coming to an agreement on a 15% tariff for EU goods on July 27, they say that based upon the 10% tariff that currently happens to be in place on shipments between their European manufacturing sites as well as their US distribution entities, management doesn’t anticipate a major direct impact when it comes to the business activities or the going concern.
In the report, which was signed off on July 14, 2025, the directors remarked that there has been no alteration in the sales prices in terms of European manufacturers relating to the tariffs, and at present the position of the US group entities happens to be that the extra tariff to be passed to US customers where possible.
The directors further said that the cost-saving initiatives are also getting actioned in order to make up for any kind of difference between extra tariff expenditures and extra tariff to be passed to US customers.
It is well to be noted that there are separate accounts for Cook Medical EMEA Group, which is Limerick-based, that happen to show the company went on to record a post-tax loss of almost €93.5m in 2024. Notably, the group happens to have manufacturing plants based in Limerick as well as Denmark, and the loss cropped up mainly due to a €166m tax charge that was connected to a Danish tax matter that was concerning Cook Denmark International Holdings ApS.
