Cosgrave’s Web Summit back in black as sales double post-Covid

Revenues at technology company hit €31m in 2021 but are still lagging behind pre-pandemic levels

Paddy Cosgrave: Web Summit reported profits of €3.8m last year after making a loss in 2020. Picture: Getty

The group behind Paddy Cosgrave’s Web Summit nearly doubled its sales last year as its in-person event returned to Lisbon, but revenues are still yet to return to pre-Covid levels.

Manders Terrace Limited, which owns Web Summit, turned a profit of €3.8 million in 2021 after a Covid-struck 2020 had moved the company into the red.

The company, which has operated its well-known tech summit in Portugal since 2016, reported turnover of €31.8 million in ...