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Feb 21 2025, 07:05 GMT
Kingspan Group
2024 trading profit comfortably better than expected with good momentum starting this year
- Sectors : Building products
- Companies : Kingspan Group
DAVY VIEW
Kingspan starts 2025 on the front foot after an impressive end to last year. Trading profit rose 10% year-on-year in H2 2024, and the full year result was comfortably (3%) better than expected. We envisage little change to the existing consensus trading profit estimate of around €983m for this year with plenty to play for. Having once again proven its quality, and with a future that remains supported by the increasingly deep-rooted demand for energy-efficient building product solutions, we believe Kingspan at a 2025 P/E multiple of circa 16x represents excellent value.
