Turnover at the Irish Cattle Breeding Federation (ICBF) grew to €23.8 million in 2023 – up from €15.3 million in 2022 – according to its latest set of financial results.
The not-for-profit organisation attributed the increase in turnover to the National Genotyping Programme (NGP) and Brexit Adjustment Reserve (BAR) funding.
The NGP is a collaborative initiative enabling Ireland to take the first step in achieving a fully genotyped national herd.
The programme is based on a cost-sharing model between the Department of Agriculture, Food and the Marine (DAFM), the beef and dairy industry and participating farmers.
ICBF’s income primarily comes from:
- Grants from the Department of Agriculture, Food and the Marine and Cattle Breeding Infrastructure contributions;
- Cattle Breeding Infrastructure funds’ contributions to programmes and projects;
- Tag contributions from cattle farmers;
- Service fees from the cattle breeding industry and farmers.
According to ICBF chief executive, Sean Coughlan, while it is a not for profit organisation it also cannot be a “loss-making organisation” and the aim is “to secure a 2% margin every year”.
In 2023, the ICBF secured a 1.7% margin with the organisation’s surplus after tax at €428,000 up €183,000 compared to the 2022 surplus after tax of €245,000.
ICBF
Five new directors have been appointed to the board of the ICBF board and details of these appointments were confirmed at the organisation’s Annual General Meeting held today (Thursday, May 2) in Portlaoise, Co. Laois.
ICBF CEO Sean Coughlan named the five new board members and outlined the reasons for their appointments.
Brendan Golden from the Irish Farmers Association (IFA) has been replaced by Declan Hanrahan on the ICBF board of directors. This seat is typically reserved for the IFA livestock chair.
Sean Sherman has completed his four-year term on the board and is stepping down to be replaced by Peadar Glennon from the Irish Simmental Cattle Society.
This seat is voted on by the pedigree breed societies. The pedigree breed societies have said they would like more seats on the board. ICBF CEO Sean Coughlan explained: “ICBF doesn’t decide who goes on the board, the people are nominated to the board from the groups of shareholders.”
The board of directors include Artificial Insemination (AI) companies, milk recording firms, farm organisations and breed societies.
The third change to the board is Donal Murphy, a Co. Wexford based Progressive Genetics representative is stepping down to be replaced by Nicholas Cooney, a Co. Louth farmer.
Ger O’ Dwyer from Dairygold is stepping down and is being replaced by Michael Murphy from Ballinhassig, Co. Cork.
Bernard Eivers has retired from the National Cattle Breeding Centre (NCBC) and been replaced in that role by Doreen Corridan.
Doreen was on the board already from Munster AI so will remain on the board but filling the NCBC seat while Martin Kavanagh who is the interim CEO of Munster Bovine will be coming on the board to fill the Munster seat.