Brief: Kingspan H1 trading profit down 3%, expects FY profit growth

Kingspan

16/08/2024 07:03

Aug 16 (Reuters) - Kingspan Group PLC  KSP.I :
    * KINGSPAN - H1 REVENUE UP 2% TO €4.2BN, EBITDA UP 2% TO
€536M,
TRADING PROFIT DOWN 3% TO €422M
    * KINGPSAN - INTERIM DIVIDEND OF 26.3 CENT PER SHARE IN LINE
WITH
2023 INTERIM PAYMENT
    * KINGSPAN - H1 INSULATED PANELS SALES -4% WITH POSITIVE
VOLUMES
OVERALL OFFSET BY LOWER Y/Y PRICING REFLECTING RAW MATERIAL PASS
THROUGH
    * KINGSPAN - H1  INSULATION SALES +16%, DATA + FLOORING
SALES +19%
TO €226M WITH ONGOING MOMENTUM INTO H2 SUPPORTED BY A RECORD
DATACENTRE SOLUTIONS PIPELINE
    * KINGSPAN - RESILIENT PERFORMANCE OVERALL IN TOUGH END
MARKETS,
STRONG ORDER INTAKE IN INSULATED PANELS SHOULD SUPPORT BETTER H2
TRADING
    * KINGSPAN -  SIGNIFICANT PROGRESS AT ROOFING +
WATERPROOFING WITH
SALES OF €257M (H1 2023: €239M),  LIGHT, AIR + WATER SALES DOWN
SLIGHTLY TO €457M
    * KINGSPAN - EXPECT TO DELIVER A BETTER PERFORMANCE IN H2
WITH
TRADING PROFIT GROWTH ANTICIPATED FOR FY
    * KINGSPAN -  AMERICAS PERFORMED WELL, EUROPE WAS MORE MIXED
WITH
FRANCE AND BELGIUM DELIVERING SOLID ACTIVITY, MARKETS RELATIVELY
WEAKER IN GERMANY, NORDICS AND BRITAIN
    * KINGSPAN - H1 GROUP TRADING MARGIN OF 10.1%, A DECREASE OF
60BPSVERSUS THE SAME PERIOD IN 2023

Further company coverage:  KSP.I 

 (Reporting By Padraic Halpin)
 ((Padraic.Halpin@thomsonreuters.com;))