Kingspan delivers record profits in FY24 despite 'tough' end markets

Building materials group Kingspan delivered record revenue and profits in FY24 as it navigated "tough" end markets.

Kingspan Group
21 February 2025 09:42:53

Source: Sharecast

Kingspan said revenues increased 6.8% to €8.6bn in FY24, pushing post-tax profits 6% higher to €654.0m. Insulation revenues were up 19% at €1.82bn, while data solutions turnover rose 36% to €516.2m, revenues from its air and water division slipped 1% to €961.1m and roofing and waterproofing income grew 15% to €568.5m.

Earnings per share were up 4% year-on-year at €3.652 each and the company proposed a final dividend of €0.285, up 7% on FY23 and giving it a total dividend for the year of €0.548.

Kingspan said its European markets were more subdued but said it Irish operations delivered a strong performance.

Chief executive Gene Murtagh said: "As we look to 2025, our order backlogs are healthy, and our development expenditure has sown the seeds for future growth whilst maintaining almost €2.0bnin operational and development headroom.

"2025 will inevitably bring challenges but we remain upbeat for the year ahead supported by structural demand for energy-efficient solutions for the built environment

As of 0940 GMT, Kingspan shares were up 10.63% at €73.90 each.

Reporting by Iain Gilbert at Sharecast.com

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