Kingspan raises profit forecast on booming data centre demand

Kingspan

07/08/2026 08:06

DUBLIN, Aug 7 (Reuters) - Ireland's Kingspan KSP.I raised full-year profit guidance on Friday, citing data centre construction operations that the building materials company says are benefiting from a burgeoning tech sector it says is detached from the regular economy.
Kingspan expects full-year trading profit to jump by about 18% to €1.13 billion ($1.30 billion), up from a forecast of €1.05 billion in late April.
The company said it can also reasonably expect to break through €10 billion in annual revenue for the first time.
The insulation specialist's trading profit rose 10% year on year in the first half to €487 million, including a currency hit of €8.4 million and €4.5 million of costs from an abandoned IPO of its ADVNSYS data centre business.
ADVNSYS, which produces infrastructure such as liquid cooling and air-handling technologies for data centres, increased first half sales by 34%, with its order intake and backlog up more than 100% year on year.
Kingspan has paused its previously announced €650 million share buyback programme, it said. It had returned €149 million to shareholders by the end of 2025.
The group invested a total of €233.6 million in the first six months, two thirds of which was on capital expenditure, with new facilities built or commissioned in the United States, Vietnam and Australia.
($1 = 0.8680 euros)

 (Reporting by Padraic Halpin
Editing by David Goodman
)
 ((padraic.halpin@thomsonreuters.com; +353 1 500 1504; Reuters Messaging: padraic.halpin.thomsonreuters.com@reuters.net))