Glenveagh Properties PLC (GLV) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

So, hello and welcome to the Glenvee full-year results 2025 results conference call. Please note, this conference is being recorded, and for the duration of the call, your lines will be on listen-only mode. However, you will have the opportunity to ask questions at the end of the call. This can be done by pressing pound key 5 on your telephone keypad to enter the queue. I will now hand you over to your host, Stephen Garvey, CEO of Glenvee, to begin today's conference. Please go ahead. Good morning, everyone, and thank you, Zach. I'm Stephen Garvey, CEO of Glenvale Properties. I'm joined today by my colleagues, Conor Merkter, our CFO, and Kate Halliday in Investor Relations. Thank you for joining our full year 2025 results call. This morning, firstly, I'll walk you through our full year's strategic and operational highlights, the market, the policy context, and how our strategy is performing in home building, partnerships, land, and innovation. After that, Conor will take you through the financials and capital allocation, and I'll return to the outlook on closing remarks. As always, we'll leave plenty of time for any of your questions at the end. To begin, let's turn to slide four with the headline numbers for the full year. 2025 was another strong year for Glenveig, with record revenue of €926 million, strong completions growth at 2,568 units, which was delivered, which was up 11% year on year, and earnings per share ahead of guidance at 20 cents, an increase of 18%. We completed our €105 million share buyback programme and continue to expand our margins across the business. What gives us real satisfaction is not just the numbers, it's what they reflect. The investments we have made over the past number of years in our land bank, in our manufacturing, in our partners...