Insulation industry news from Global Insulation

Ireland: Kingspan recorded sales of US$2.21bn during the first quarter of 2023, up by 4% year-on-year from first-quarter 2022 levels, Reuters has reported. The producer said that group insulation sales remained in line year-on-year. Insulated panel sales remained ‘sluggish,’ but constituted 25% of all orders. By region, sales were ‘strong’ in the Americas and ‘solid for the most part’ in Western Europe, while conditions ‘remained tough’ in Central and Eastern Europe. Kingspan forecast first-half earnings of US$441m in 2023.

The company proposed its future delisting from the UK-based London Stock Exchange, where it says current share trading is ‘negligible as percentage of total trading.’