The company that operates Irish Water has published its first annual report. Ervia has recorded a revenue intake of €506m for 2014.
While its operating profit - before taxes and other charges are taken into account - stands at €337m.
Ervia, formerly known as Bord Gáis Éireann, is the commercial semi-State company charged with delivering gas and water infrastructure and services.
The Irish Water branch of the firm spent €548m on 300 water projects in the year.
It also says that €400m in commercial funding was raised at the end of 2014, with a further €350m agreed with Irish and international banks in the first three months of 2015.
It adds that the Irish Water section saw total revenue of €687m, and a loss before interest and tax of €107m.
It says this was "due to Irish Water assuming responsibility for all water-related operations and costs from 31 Local Authorities, and in advance of the start of domestic billing in 2015".
Commenting on the figures, Ervia CEO Michael McNicholas said: "In one of the largest transformation projects in the history of the state, Irish Water has assumed responsibility for the country's water and waste water infrastructure."
"Irish Water is focused on becoming a consumer led utility and earning the trust of its customers and the general public."
"While the scale of the change program and investment required is significant, Ervia and Irish Water are 100% committed to delivering on the mission to upgrade the country’s ageing water network so that it is fit to support a modern and growing Irish economy," he added.
