REG-Cairn Homes Plc Cairn Homes Plc: 2025 AGM Trading Update

Cairn HomesAnnouncement

Thu 07:02

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   Cairn Homes Plc (CRN)
   Cairn Homes Plc: 2025 AGM Trading Update

   08-May-2025 / 07:00 GMT/BST

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                            2025 AGM Trading Update

                                        

   Dublin / London, 8  May 2025: Cairn Homes plc  (‘Cairn’, ‘the Company’  or
   ‘the Group’)  (Euronext Dublin:  C5H /  LSE: CRN)  is holding  our  Annual
   General Meeting (‘AGM’) today at 12.00 noon at The Merrion Hotel,  Merrion
   Street Upper, Dublin  2 and in  advance provides the  following update  on
   current trading for FY25.

    

   Current Trading

    

     • Reflecting a very positive trading environment, 2025 to date has  seen
       continued scaling of our  operating platform and increased  investment
       in our growing number of active sites throughout Ireland.
     • Ireland’s newly formed Government has been very clear in its  ambition
       to almost double housing output. Initiatives, policies and  supportive
       capital for both  housing and infrastructure  are available to  assist
       these growth objectives. Cairn’s  established market leading  position
       will allow us to respond to this challenge.
     • As evidenced by this positive  backdrop, our closed and forward  sales
       pipeline now stands  at c.3,250 new  homes with a  net sales value  of
       c.€1.25 billion (26 February 2025: 2,593 closed and forward sales with
       a net sales value of €989 million).
     • A focus on our core first  time buyer market will result in  increased
       H1 WIP investment and a higher  proportion of our FY25 revenue in  H2.
       We  are  progressing  a  number  of  new  forward  sale  and   forward
       fund 1 1 transactions with our State partners. This demand across  our
       multiple tenures will result in our closed and forward sales  pipeline
       continuing to grow throughout the year.
     • Build cost  inflation is  currently running  below our  FY25  expected
       level of c.2%. While we are mindful of the potential impact of changes
       in global trade policies, we are not witnessing any adverse effect  on
       our business at present.
     • Recently recognised by our peers at the Irish Construction  Excellence
       Awards 2025, winning across a number of categories including  ‘Project
       of the Year’ for Seven Mills and ‘Innovation in Construction’ for  our
       lead role in building new homes to Passive House standards in Ireland.

    

   Outlook

    

   The Company is confident in our FY25 guidance: 

    

     • Revenue growth in excess of 10%;
     • Operating profit of c.€160 million; and
     • ROE 2 2 of c.15.5%.

    

   Supported by  the  strength  of  our  market  position,  scaled  operating
   platform and  multi-year  order  book, the  medium-term  outlook  for  the
   Company is positive.

    

   Cairn will release a  H1 2025 trading  update in July  2025 in advance  of
   2025 interim results on 3 September 2025.

    

   Commenting on the trading update, Michael Stanley, CEO, said:

    

   “We’ve experienced sustained,  positive momentum  since the  start of  the
   year, as evidenced  by the  growth in  our order  book to  over 3,000  new
   homes. This is  our 10th  year in  business and  my colleagues  and I  are
   genuinely proud that over 30,000 people now live in a Cairn built home. As
   we embark on our  second decade, our commitment  to scale our delivery  of
   high quality, energy  efficient homes, in  line with our  core values,  is
   stronger than ever.”

    

   For further information, contact:

    

   Cairn Homes plc                          +353 1 696 4600

   Michael Stanley, Chief Executive Officer

   Richard Ball, Chief Financial Officer

   Ailbhe Molloy, Investor Relations Manager

    

   Drury Communications                       +353 1 260 5000

   Billy Murphy

   Claire Rowley

   Gavin McLoughlin

    

   Notes to Editors

   Cairn  is  an  Irish  homebuilder  committed  to  building   high-quality,
   competitively priced,  sustainable  new  homes and  communities  in  great
   locations. At Cairn,  the homeowner is  at the very  centre of the  design
   process. We  strive to  provide unparalleled  customer service  throughout
   each stage  of the  home-buying  journey. A  new  Cairn home  is  expertly
   designed, with a focus  on creating shared  spaces and environments  where
   communities  thrive.  Cairn  owns  a  c.16,150  unit  landbank  across  38
   residential development  sites,  over 90%  of  which are  located  in  the
   Greater  Dublin   Area  (GDA)   with   excellent  public   transport   and
   infrastructure links.

    

    

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    3 1 Forward fund transactions involve Cairn delivering new homes under a
   contractual relationship where the land is sold up-front and the cost of
   delivering the new homes is paid on a phased basis.

    4 2 ROE (Return on Equity) is defined as Profit after Tax divided by
   Total Equity at year end.

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           IE00BWY4ZF18
   Category Code:  TST
   TIDM:           CRN
   LEI Code:       635400DPX6WP2KKDOA83
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   386901
   EQS News ID:    2132606


    
   End of Announcement EQS News Service

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