Ireland: Kingspan Group’s revenue grew in 2017 due to strong European sales despite a ‘weakening’ UK market. Its revenue rose by 18% year-on-year to 3.67bn in 2017 from Euro3.12bn in 2016. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 9.3% to Euro442m from Euro404m. Sales of both insulation boards and panels grew.
“We have continued our globalisation strategy with several significant acquisitions, including establishing a market leading presence in Latin America. Our new Light & Air division is performing ahead of expectations and expanding the range of product solutions the business offers. The challenge of increased input costs has been effectively managed to minimise the impact on profit margins. Notwithstanding the weakening UK market our well diversified business is well placed for the longer term,” said Gene M Murtagh, the chief executive of Kingspan.
