Insulation and building materials manufacturer Kingspan has reported revenue of €4.5bn for the first half of the year, up 8% on the same period last year.
The Co Cavan-based company said its trading profit was up 5% to €443m.
Its profit after tax increased to €334.2m, up from €310.2m in the first half of last year.
After a slow start to 2025, Gene Murtagh, Chief Executive of Kingspan said the company is pleased to have delivered record revenues and trading profits.
“Activity levels have firmed as the year progressed and conditions remain relatively stable, albeit with outlook varying by market and segment and supported by continuing structural growth opportunities,” he said.
“At a macro level, we expect Europe and LATAM to offer more attractive scope in the near term with the US delivering over the medium and longer term as we advance industry penetration and grow our share through innovation,” he added.
Mr Murtagh said the company expects to deliver a full year trading profit of around €950m – which would be 5% ahead of 2024.
“By year end 2025 we also expect to have delivered a 63% reduction in Group Green House Gas emissions relative to 2020 and to roll out an additional 100+ Planet Passionate initiatives, supporting our ongoing sustainability commitments, including sourcing 60% of Group energy requirements from renewable sources,” Mr Murtagh added.
Breaking down its divisions, sales in Insulated Building Envelopes increased by 8%, mainly acquisitions, with slower sales in the US and solid European activity overall.
Meanwhile, sales in Advanced Building Systems grew strongly in the period by 12% buoyed by tech sector activity.
The company said it plans to commence a new share buyback programme.
It plans to repurchase up to 10% of the issued ordinary shares of €0.13 each, subject to a maximum aggregate consideration of €650 million.
“The purpose of the buyback is to reduce the share capital of the company and as such, the company will cancel any shares repurchased,” Kingspan said in a statement.
Shares were lower in Dublin trade today.
