Kingspan : Financial document (kgr interim press release hy 2026)

Financial Highlights

• Revenue up 8% to €4.86bn (+9% pre-currency).

• EBITDA up 9% to €626m.

• Trading profit up 10% to €487.2m, despite year on year currency headwind of €8.4m and Advnsys IPO exploration costs of €4.5m (headline trading profit of €500.1m before both, +13% year on year).

• Group trading margin up 20bps to 10.0%.

• Acquisitions contributed 3% to sales growth and 3% to trading profit growth in the period.

• Profit after tax of €352.6m (H1 2025: €334.2m). Effective tax rate of 16.3% (H1 2025: 16.5%).

• Group free cash inflow of €144.3m (H1 2025: outflow €20.0m) which reflects the seasonal increase in working capital.

• Net debt1 of €1,859.8m (H1 2025: €1,915.2m). Net debt to EBITDA2 of 1.56x (H1 2025: 1.74x).

• Basic EPS up 5% to 180.5 cent (H1 2025: 172.1 cent).

• Interim dividend of 27.1 cent per share (H1 2025: 26.3 cent per share).

• Share buyback programme paused to preserve dry powder.

  Operational Highlights

• Strong performance overall with increased momentum in the second quarter following a seasonally slow start. Further acceleration of growth anticipated for second half.

• Sales in Insulated Building Envelopes increased by 2% (+4% pre-currency) with ongoing penetration gains a key factor. Strong backlog overall as we enter the second half.

• Sales in Advnsys grew strongly in the period by 34% (+36% pre-currency) buoyed by tech sector activity with rapidly growing momentum and backlog. Converged solutions driving significant wallet share gains, multiplying potential opportunity.

• Invested a total of €233.6m in acquisitions and capex during the period.

1. Net debt pre-IFRS16 per banking covenants

2. Net debt to EBITDA ratio is pre-IFRS16 per banking covenants

3. Earnings before finance costs, income taxes, depreciation and amortisation

4. Earnings before finance costs, income taxes, depreciation and amortisation as a percentage of total revenue

5. Operating profit before amortisation of intangibles

6. Operating profit before amortisation of intangibles as a percentage of total revenue

Gene Murtagh, Chief Executive Officer of Kingspan commented:

"Momentum picked up considerably in Q2, a trend we expect will continue to accelerate in the second half. Advnsys, our data infrastructure business is growing extremely well, whilst our Insulated Building Envelopes business, despite market headwinds, also delivered a very strong performance, with sales, profit and order intake all growing.

"We are very pleased to be consistently delivering on our Planet Passionate commitments, and we expect our total emissions in FY 2026 to be 70% below 2020 levels. This is despite considerable organic and acquisition led growth in that period.

"Overall we continue to trade well with structural growth setting us apart from the general movements in end markets. Across markets, Europe is generally stronger, the US is somewhat subdued save for the soaring tech sector and LATAM is progressing well. At Advnsys our expanding product suite and converging solutions are driving demand, market share and share of wallet and multiplying our growth opportunity for the foreseeable future.

"Across the Group our order backlog is considerably higher than at the same point last year and on that basis we can reasonably expect to break through €10bn in full year revenue for the first time. We expect revenue growth will translate to full year trading profit of €1,125m, an increase of approximately 18% on 2025".

For further information contact:

Pat Walsh, Murray Consultants Tel: +353 (0) 1 4980 300 / +353 (0) 87 2269 345