WeWork was profitable in Ireland in 2022.

Seven out of eight WeWork Irish locations recorded operational profits.

“Excluding a significant loss of the 1 George’s Quay location, where WeWork had to terminate the lease, the remaining seven WeWork in Ireland subsidiaries booked a combined operating profit of almost €5 million in 2022, as topline revenues increased by 20 per cent to just under €45 million”, according to the Business Post Irish newspaper.

“Dublin Landings Tenant Limited, the firm behind its dockland’s office space, recorded turnover of €12.9 million in 2022 and a pre-tax profit of more than €4.2 million. Similarly, its holding company for 42 Charlemont Street registered a turnover of €13 million, and a profit of more than €1 million, while its 5 Harcourt Road subsidiary also posted a profit of more than €900,000 after revenues increased to €6.9 million. The holding company behind WeWork’s Iveagh Court office posted a profit of more than €1 million in 2022 as sales increased to almost €7 million”, details the newspaper.

WeWork filed for Chapter 11 protection last year in the US.

Profit & Loss: WeWork’s Irish operations make healthy profits, Q-Park books steep losses