Apple Operations International Ltd, the main Irish unit of Apple, Inc, saw profits fall by more than $44bn from €70.3bn to €26bn last year after paying a $25bn dividend to its parent, with net sales increasing 42.4% to $211.1bn.
The group incurred sales-related costs of $121.5bn, up from $90.2bn a year prior, while total operating expenses of $22.3bn, including research and development costs of $12.5bn, were down slightly from $24.6bn in 2020.
Net income at the Cork-based unit, which develops and manufactures iPhones, Macs, iPads, wearable devices and accessories for the tech giant, more than doubled from $27.7bn to $56.2bn.
The company employed an average 52,563 full-time staff, an increase of around 1,300 from the previous year, and set aside some $11.6bn for income tax, nearly double the $6.1bn provision it made in 2020, including $8.5bn paid in corporate tax, compared to $2.6bn in 2020.
New accounts show the group had net assets of $58.8bn at the end of September, up $32.4bn from the $26.4bn a year earlier, while director remuneration for the period rose from $4.8bn to $5.8bn, and wages and salaries were up from $3.3bn to $3.9bn.
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"The directors do not anticipate any significant change in activities for the group and company in the foreseeable future," said the company directors, going on to list Covid-19, competition, technological change as well as component shortages as risks to its business.
Apple assistant treasurer Michael Boyd Jr and director of corporate law Peter Denwood are listed as the company directors, with senior corporate counsel for EMEA Shane Collins and Fiona Murphy counted as company secretaries for the Hollyhill Industrial Estate-based company.
Apple, Inc last month reported strong quarterly results despite supply shortages but warned that its growth slowdown is likely to deepen, with revenue likely to take a $4-8bn hit.
Revenue for the period totalled $97.3bn, 9% higher than the same time last year, and quarterly profit came in at $25bn, or $1.52 per share, a 6% increase from Q1 2021. The Cupertino company is valued at some $2.7tn.
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