IE-Annual-Report-2023

Chair’s Statement Chair’s Statement We are using our financial resources to invest in developing new sources of revenue to ensure that we have the long-term capability to fulfil our Purpose and Vision. Ensuring that the .ie namespace infrastructure is safe and secure for our Internet users and for Irish business is a critical priority for the Board. Our Purpose is to enable and empower people, communities and businesses across Ireland to thrive online, and we assure our stakeholders of our continued commitment into the future. As we strive to achieve our strategic objectives, set out on the previous page, we are determined to elevate Ireland’s digital identity by providing a trusted, resilient and accessible .ie Internet domain. In this context, as an Operator of Essential Services, designated by the Department of Communications, we are constantly improving our cyber defences and proactively building our recover capabilities. We are a company limited by guarantee, so .IE’s financial reserves are its only source of capital and it is therefore critically important that we maintain a capital base fully adequate to meet current and prospective business requirements. In recording a modest after-tax surplus of €86k (2022 – €217k) we improved our financial strength in 2023 and recorded new registrations of 48,458 (2022 – 48,168). At year end, net liquid funds were €1.2m and investments totalled €7.7m. It is these financial reserves which empowers us to invest: in setting up a new centre of expertise in data analytics; licensing the TITAN registration platform; and implementing a €1 million investment over four years in our national .IE Digital Town programme. The Company’s financial position remains strong and in line with our financial objectives. I would like to acknowledge the continued dedication and diligence of our multi-stakeholder Policy Advisory Committee (PAC) which was established eight years ago to advise the Board on policy matters. Balancing the rights, responsibilities and obligations of Internet multi-stakeholders is important to us. Representative of a broad range of stakeholders, the PAC continued in 2023 to play an important role in assisting us to respond to many new EU Directives, which brings a stricter regulatory cybersecurity environment. On behalf of the Board, I would like to thank the members for their contribution to the ongoing policy development process at the registry. Within the Company, we are developing a people- centred culture in a digital age. To deliver on our ambitious plans set out in the Strategy 2024, it is vital that we continue to attract, nurture and retain talent. There is intense competition for talent in the digital economy, but .IE is acknowledged as a trustworthy organisation with a purpose and values which are attractive for highly motivated individuals who want to make a positive contribution to the Internet community. We are pleased to retain the KeepWell accreditation and remain among the Top 100 ranked companies Leading inWellbeing. Outlook The outlook for the digital economy remains broadly positive, although there are headwinds in terms of online scams, deep fakes, and online abuse which result in lower consumer confidence and trust, particularly in certain social media platforms. These are drawing the attention of regulators across the globe. For .IE, offering high levels of infrastructure security in email and websites is more important than ever. Our challenge will be to ensure that Ireland’s communities, towns and micro-businesses can leverage long-term benefits from new levels of productivity and e-commerce sales, including retaining the benefits of remote working. While we welcome the EU regulatory focus on cybersecurity and its objective to harmonise standards across the EU, we are aware of the potential for short- term disruption and the challenges and implications of a higher cost base for our channel, and for SMEs. We believe that our dedicated teamwill continue offering trustworthy, dependable, and efficient infrastructure and services, empowering the citizens and businesses of Ireland to flourish and succeed online. Louise English Chair 31 May 2024 IE Domain Registry CLG t/a .IE / Annual Report & Review 2023 4