Eden Project: Losses more than double amid job cuts
Losses at the Eden Project in Cornwall more than doubled as a “major restructuring” led to a large number of jobs being cut.
New accounts filed with Companies House show that its pre-tax loss went from £1.5m to £3.5m.
The latest figure comes after the Eden Project also posted a pre-tax loss of £868,000 in the year before that.
The results also show its turnover declined from £24.2m to £23.1m.
The tourist destination welcomed 543,000 visitors in the year to 31 March, 2025, down from 604,000 in the prior 12 months.
It said the fall in visitor numbers was a reflection of “the more challenging tradition conditions in South West tourism”.
The Eden Project described its latest financial period as a “challenging year” amid a “major restructuring” which led to the loss of 70 jobs.
In a statement CEO Andy Jasper said: “The financial statements reflect the challenging period the organisation has been through alongside the backdrop of tourism in the South West and ongoing challenges of the visitor economy.
“Proactive measures we took in 2024/2025 enabled us to stabilise our business through restructuring and control of costs resulting in a healthy operating surplus of more than £750,000.
As we look to welcome the 25th millionth visitor in our 25th year, 2026 looks likely to be a pivotal year for us.
“We will continue with the emphasis on financial resilience and strategic agility, while balancing the need to celebrate all that Eden Project represents, with a long awaited start to the construction of Eden Project Morecambe.
“As a registered educational charity we continue to sharpen our strategic focus whilst remaining grounded in the realities of our financial position and look forward to a bright and exciting future delivery of our mission to demonstrate and inspire positive action for the planet.”
Eden Project North to be complete in 2028
The accounts come ahead of the new Eden Project site in Morecambe, Lancashire, being slated to open towards the end of 2028.
Lancashire City Council approved planning permission for the site at the end of January 2022.
The £125m project is expected to directly employe more than 400 people and support 1,500 jobs in the region.
The site had originally been expected to open in 2024 but has been delayed several times.
Eden Project North will be located on the former site of the Bubbles leisure complex near the Winter Gardens and Midland Hotel.
When permission was granted, it was said that the project would boost the local economy by £200m a year.
Construction is now expected to start in the summer of 2026 with completion due in late 2028.
The construction project is expected to cost around £100m, with half being committed by the UK government.
In March this year, engineering firm WSP and architect Grimshaw were appointed to lead the design of the Morecambe site.