Covid-19 Ireland

Businessman Paddy Cosgrave's Web Summit group sustained a €30.59 million hit to revenues in 2020 due to the impact of Covid-19.

The group’s cash funds increased from €10.75 million to €11.65 million. Mr Hickey resigned as director in August 2019. The note states: “ChangeX identified and funded a set of projects aimed at strengthening Ireland’s response to Covid-19." Mr Kelly resigned as a director in April 2021. The 2020 pre-tax loss takes account of €1 million that the Web Summit donated to ChangeX in 2020. Businessman Paddy Cosgrave’s Web Summit group sustained a €30.59 million hit to revenues in 2020 due to the impact of Covid-19.