Ireland: Sales in insulated panels have driven increases in sales revenue and earnings at Kingspan. Its revenue rose by 19% year-on-year to Euro1.75bn in the first half of 2017 from Euro1.47bn in the same period in 2016. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 6% to Euro209m from Euro197m. It attributed its growth to increasing demand for energy efficiency in Western Europe.
“The first six months of 2017 were strong for Kingspan,” said Gene Murtagh, chief executive of Kingspan. “We expect end market activity to be broadly positive for the remainder of the year and at current exchange rates to deliver a full-year result at least in line with consensus. While margins contracted somewhat, we anticipate further recovery of input increases in the second half. Our balance sheet is strong and ready to support our development agenda as the opportunities unfold.”
By region the group says it performed well in Western Europe, including the UK, as well as the US, Scandinavia and Australia. However, it reported problems in Central Europe and the Middle East.
