Industry & Business

Kingspan Full Year Report Shows Revenue up 12 Percent in 2016

 Breaking News
  • Grand Canal Innovation District Planned For Dublin A far-reaching plan for the creation of the Grand Canal Innovation District in Dublin has been launched. The proposal from Trinity College Dublin is modelled on innovation districts in cities such as Boston, Toronto, Rotterdam and Barcelona. It will significantly strengthen Ireland’s competitive advantage when developing new indigenous companies or competing for foreign direct investment. [...]...
  • Heiton Buckley Unveils Newly Refurbished Mayo Branch Heiton Buckley, Ireland’s leading supplier of doors, floors, bathrooms, garden, plumbing and heating products, has officially unveiled its newly refurbished branch in Castlebar, County Mayo . GAA star, Andy Moran, CEO of Grafton Merchanting ROI, Patrick Atkinson, Heiton Buckley Castlebar Branch Manager, Mick Kane, and longtime customer Mick Duane officially cut the ribbon and kicked [...]...
  • Export Sales by Enterprise Ireland Client Companies Hit New Record Enterprise Ireland, the state agency responsible for helping Irish companies export to international markets, has announced that its clients recorded export sales of €22.71 billion in 2017, representing a 7 per cent increase on 2016. This is the highest level of export sales recorded in the history of the agency and the eighth-consecutive year of [...]...
  • BAM Wins €25 Million Contract to Build New Cheese Factory in Cork TINE Ireland, a subsidiary of the Norwegian dairy co-operative TINE, has awarded the construction of a new Jarlsberg® cheese production facility and administration building at Mogeely, County Cork, to BAM Ireland. The contract value is more than €25 million. TINE is Norway’s largest producer, distributor and exporter of dairy products with 11,400 members (owners) and [...]...
  • HBAN Scoops Major European Business Angel Network Award HBAN (Halo Business Angel Network), the all-island organisation responsible for the promotion of business angel investment, and a joint initiative of Enterprise Ireland and InterTradeIreland, was crowned Globally Networked Organisation 2018 at the recent EBAN (European Business Angel Network) Awards Ceremony held in Sofia, Bulgaria. HBAN was awarded the prominent European accolade in recognition of the significant [...]...

Kingspan Full Year Report Shows Revenue up 12 Percent in 2016

Kingspan Full Year Report Shows Revenue up 12 Percent in 2016
February 17
11:54 2017

Full year results for Cavan-based building materials producer, Kingspan, released on Friday, showed revenue up 12% to €3.1 billion in 2016.  Trading profit was up 33% to €340.9 million, while acquisitions contributed 11% to sales growth and 7% to trading profit growth in the year.

“2016 was another record year for Kingspan,” Kingspan Chief Executive Gene Murtagh said. “Through our organic initiatives and acquisition strategy we are developing a truly global business well placed to capitalise on the transition towards a lower energy future. We are encouraged about the outlook for the first half of 2017, with the current order book solidly ahead of the same point last year. With low debt levels and strong cash generation we retain the flexibility to invest in new opportunities as they present themselves”.

Kingspan recorded a group trading margin of 11%, an increase of 180bps, while basic EPS up 35% to 143.8 cent. Final dividend per share was 23.5 cent and total dividend for the year up 34% to 33.5 cent.

Kingspan recorded a year-end net debt of €427.9 million, compared with €328 million in 2015. Net debt to EBITDA increased to 1.06x from 1.04x in 2015, while ROCE increased by 210bps to 17.3%.

Total capital investment in the year was €364 million, of which €113 million was capex, plus an acquisition spend of €251m.

Kingspan’s impressive results followed a strong performance in the UK, and economic recoveries in much of Western Europe. Insulated Panels had a strong year in the UK, however the North American market cooled off somewhat towards year end. European sales were strong in the Netherlands and France, whilst more flat in Germany.

Insulation Boards had another strong year in the UK with the US and European businesses making good gains. Kingspan reported that Environmental continued its recovery and posted strong margin expansion year on year.

Kingspan did note that Access Floors activity remained a challenge in North America, while the UK was positive and was unlikely to dip until the second half of 2017.

 

About Author

editor

editor

Related Articles

New Subscriber





Subscribe Here



Advertisements



















National Manufacturing Conference & Exhibition 2018

NIBRT Springboard Success Stories



Upcoming Events

  • No upcoming events
AEC v1.0.4