Kingspan Group Plc · EURONEXT:KRX
Kingspan — H1 2025 Earnings Presentation
26 slides from Kingspan's earnings presentation, August 2025
Slide 1: Half Year Results August 2025
GREEN INSIDE POWER OUTSIDE TM Half Year Results August 2025
Slide 2: Disclaimer
Disclaimer Forward Looking Statements This presentation contains certain forward looking statements including, without limitation, the Group’s financial position, business strategy, plans and objectives of management for future operations. Such forward looking information involves risks and uncertai
Slide 3: H1 2025 in Summary
H1 2025 in Summary REVENUE Like-for-like trading margin up 20bps to 10.3%. Reported trading margin 9.8%, down 30bps driven by the initial and seasonal impact of Nordic €4.5bn Waterproofing. +8% Plan to commence a share buyback of up to €650m, while progressing our development pipeline. TRADI
Slide 4: Our Mission
Our Mission To accelerate a net zero emissions built Energy-Efficient 172 million tonnes of CO2e will environment with people and planet at be saved over the life of our insulation systems sold in 2024 its heart. Greenhouse Gas Emissions 61%1 reduction in absolute Scope 1 & 2 CO2e emissions Recycled
Slide 5: Progress Towards Planet Passionate Targets
Planet Passionate Targets1 PROGRESS TOWARDS BASE TARGET 20252 TOPIC TARGET YEAR YEAR 2020 TARGET (f) 65% reduction in Scope 1 & 2 GHG emissions3 2020 2030 877k4,5 325k 83% 97% (tCO2e) 15% reduction in carbon intensity from raw Not forecast CARBON materials (%) 2020 2030 - at half year ≥90% zero emis
Slide 6: Planet Passionate sustainability achievements
400+ PROJECTS SINCE 2020 GHG EMISSIONS1 with acquisitions underlying ON-SITE GENERATION 61% 80% Absolute reduction in Scope 1 & 2 GHG emissions 14% Absolute reduction in Scope 3 GHG 30% On-site renewable TARGET 57% Wholly-owned sites have since 2020 emissions since 2020 (including energy generation
Slide 7: Megatrends That Drive Us
Megatrends That Drive Us Politics and Regulation Averting a climate emergency Market and Customers Paris Agreement goal to limit the temperature increase above pre-industrial levels to 1.5ºC Society and Workforce Future proofing of asset values Health/comfort needs of citizens Sustainability and Res
Slide 8: Completing the Envelope
Completing the Envelope Derbicoat ® NT (base sheet) 30% recycled components 5,000kg** CO2 savings Kilon LEC Multiwall 50% recycled content 36% *** less embodied carbon QuadCore LEC ® Natural Building Materials 48% * recycled content - Steico® I-Joist 15% *** less embodied carbon PowerPanel® Water +
Slide 9: The Full Spectrum
The Full Spectrum KoolDuct® Therma Insulation for internal ventilation / piping PIR Adaptable and strong thermal performance Thermal Optim-R® Ultra thin, ultra high thermal performance Steico® Return on Investment Wood fibre insulation QuadCore LEC® Space Leading thermal performance with LEC Walkabi
Slide 10: Global Expansion
Belgium Global Expansion Pipe Insulation Line 2026 PowerPanel® Enablement 2026 Czech Republic Mineral Fibre Panel Line 2025 Insulated Panel Line 2027 PowerPanel® Enablement 2026 Poland Ireland Germany Wood Fibre Insulation Facility 2025 AlphaCore® Line 2026 Insulated Panel Plant 2025 Ukraine Dunkirk
Slide 11: Progress So Far
Progress So Far 9.0 8.5 8.0 7.5 7.0 6.5 Revenue (€bn) 6.0 5.5 5.0 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 11
Slide 12: In a Nutshell
83% 17% Products Insulated Building Envelopes Advanced Building Systems Revenue 85% 15% €4.5bn Drivers Energy Efficiency & Conversion Other In a Nutshell Geographic 43% 28% 22% 7% Applications Western and Southern Central and Americas ROW - Retail Regions Europe Northern Europe - Distribution - Leis
Slide 13: Financial Highlights
Financial Highlights H1 2025 H1 2024 YoY % Change CC Change* Revenue (€m) 4,516.2 4,167.0 8% 9% Trading Profit (€m) 442.9 421.8 5% 6% Earnings Per Share (cent) 172.1 165.9 4% Interim Dividend (cent) 26.3 26.3 - Free Cashflow (€m) (20.0) 103.6 -119% Trading Margin 9.8% 10.1% -30bps Net Debt (€m) 1,91
Slide 14: Sales and Profit Bridge
Sales and Profit Bridge REVENUE (€m) TRADING PROFIT (€m) 29.0 358.1 7.8 (37.9) 16.8 4,516.2 (3.5) 442.9 4,167.0 421.8 Revenue H1 Currency Acquisitions Underlying Revenue H1 Trading Profit Currency Acquisitions Underlying Trading Profit 2024 2025 H1 2024 H1 2025 14
Slide 15: Sales by Geography
Sales by Geography H1 2025 H1 2024 YoY %Change CC Change* Western & Southern Europe 1,934.6 1,854.5 4% 4% Central & Northern Europe 1,259.3 1,095.0 15% 15% Americas 993.3 910.1 9% 13% Rest of World 329.0 307.4 7% 11% Group 4,516.2 4,167.0 8% 9% *Constant currency change H1 2025 H1 2024 7% 7% 43% 45%
Slide 16: Free Cash Flow (€m)
Free Cash Flow (€m) (288.4) 571.7 (151.8) (37.2) (13.2) (15.0) (69.3) (16.8) (20.0) EBITDA Working Capital Net Capex Lease Payments Provisions Net Finance Costs Tax Non-Cash / Other Free Cash Flow 16
Slide 17: Net Debt Reconciliation (€m)
Net Debt Reconciliation (€m) (2.7) 24.1 51.9 2.5 160.6 20.0 85.8 1,915.2 1,573.0 Net Debt Dec 24 Free Cash Flow Acquisitions Deferred Dividends Paid Dividends paid to Dividends From FX/Other Net Debt Jun 25 Consideration paid non-controlling Associates interests 17
Slide 18: Strong Balance Sheet
Strong Balance Sheet Net debt to EBITDA 1.74x as at 30 June 2025 Undrawn €800m green revolving credit facility with a committed term to May 2028 Total private placement loan notes of €1,477m and public bonds of €750m Weighted average maturity of all outstanding debt is 4.6 years Total avai
Slide 19: Consistent Value Accretive Growth
Consistent Value Accretive Growth FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 €8,341m €8,091m €8,608m €6,497m €4,373m €4,659m €4,576m Revenue €2,774m €3,109m €3,668m 16.4% CAGR €1,891m €833m €877m €907m €755m €497m €508m Trading €341m €378m €445m 19.8% CAGR €256m Profit €149m 329.5 352.3
Slide 20: Insulated Building Envelopes
H1 25 H1 24 Sales (€m) 3,753.5 3,484.4 Insulated Building Envelopes % of Group Sales 83% 84% Analysis of YoY % Change Underlying Currency Acquisition Total -0.8% -1.0% +9.5% +7.7% World leader in advanced energy saving solutions for roofs, walls and floors. 2024 and early 2025 a milestone period
Slide 21: Advanced Building Systems
H1 25 H1 24 Sales (€m) 762.7 682.6 Advanced Building Systems % of Group Sales 17% 16% Analysis of YoY % Change Underlying Currency Acquisition Total +8.4% -0.7% +4.0% +11.7% • A global leader in bespoke critical infrastructure primarily focused on data centres, ventilation and daylighting. • Order I
Slide 22: Outlook
Outlook A slow start to the year and activity firmed up as we moved through the half year. Western Europe is solid, Central and Eastern Europe has improved while the US is tentative. LATAM is pushing ahead at an encouraging pace. Insulated Building Envelopes continues to benefit from structural
Slide 23: New segmental reporting structure
New segmental reporting structure Insulated Panels Roofing + Waterproofing Insulated Building Envelopes Insulation Manufacture of high-performance building solutions for energy efficient roofs, walls and floors in both new and renovation applications in all building types. Data Solutions Advanced Bu
Slide 24: Financials by segment
Financials by segment Group H1 2023 FY 2023 H1 2024 FY 2024 H1 2025 Revenue (€m) 4,083.9 8,090.6 4,167.0 8,608.0 4,516.2 Trading Profit (€m) 435.5 876.9 421.8 906.7 442.9 Trading Margin 10.7% 10.8% 10.1% 10.5% 9.8% Insulated Building Envelopes H1 2023 FY 2023 H1 2024 FY 2024 H1 2025 Revenue (€m) 3,4
Slide 25: New segmental reporting structure
New segmental reporting structure Insulation Roofing + Waterproofing Data Advanced Solutions Insulated Building Building Systems Envelopes 17% 83% Light, Air + Insulated Water Panels 25
Slide 26: Contact details
Dublin Road Kingscourt, Co Cavan Ireland, A82 XY31 Tel: +353 42 969 8000 Email: ir@kingspan.com www.kingspan.com 26