DAVY VIEW

By its high standards, 2024 was a subdued financial year for Kingspan and upcoming results should reveal that profits were little changed versus 2023. There is a lively debate about the near-term outlook with uncertainty regarding the potential magnitude of earnings growth this year. This uncertainty has weighed on the equity performance and rating. While acknowledging the lingering external challenges, there are credible reasons to be cautiously optimistic for this year while retaining full confidence in Kingspan’s long-term prospects.