Jost Massenberg

Chairman's Statement

Łódź Zoo

Łódź, Poland

Insulated Panels

K-Roc Karrier Panel

Annual Report 2022

I am pleased to report on another year of record performance by Kingspan, in what turned out to be a year of two halves. Solid momentum in the early part of 2022 gave way to more challenging conditions in the second half, delivering total revenue for the year of €8.3bn (2021: €6.5bn) and record trading profits of €833m (2021: €755m).

2022 performance

Total revenue of €8.3bn (2021: €6.5bn) delivered record trading profits of €833m (2021: €755m), an increase of 10% on prior year. This excellent result, against a backdrop of global uncertainty in many of our markets, demonstrates the success of our core strategy centred around the four key pillars of Innovation, Planet Passionate, Global, and Completing the Envelope.


Our four strategic pillars:

Kingspan’s innovation agenda is driven across four key themes – performance, solutions, sustainability, and digitalisation. We have a persistent focus on iterative performance improvements in our current portfolio including characteristics relating to thermal, structural, sustainability, fire and smoke. We innovate solutions to enable architects and building designers to create sustainable buildings, such as our integrated insulated panel with solar-PV, PowerPanel™. And by progressively surfacing our products digitally, we are making it easier to find them, specify them, buy them and track them.

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Completing the Envelope
Our strategy of ‘Completing the Envelope’ aims to take our innovation and sustainability DNA and apply them to a wider portfolio of products which are complementary to our current offering. Our solutions driven approach deepens our relationships with our customers and extends the opportunities to make buildings better for the future.

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Kingspan is a truly global business, trading in over 80 countries with 212 manufacturing sites across the globe. We aim to continue expanding globally to bring ultra performance building envelope solutions to markets which are at an earlier stage in their evolution to sustainable and efficient methods of construction.

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Planet Passionate
Our Planet Passionate agenda is inextricably linked with innovation. Planet Passionate is Kingspan’s 10-year sustainability programme which aims to impact three big global issues – climate change, circularity and protection of our natural world. By setting ourselves challenging targets in the areas of carbon, energy, circularity and water, we aim to make significant advances in both our business operations and our products.

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The Board is pleased to recommend a final dividend of 23.8 cent per share, which if approved at the Annual General Meeting, will give a total dividend for the year of 49.4 cent, compared to 45.9 cent in 2021.

This is in line with the Company’s previously announced shareholder returns policy. If approved, the final dividend will be paid (subject to Irish withholding tax rules) on 9 May 2023 to shareholders on the register at close of business on 14 April 2023.

Management and employees

This performance is thanks to the hard work and dedication of the Kingspan Team of over 22,000 employees globally.

On behalf of the Board, I want to thank management and all the employees for their contribution to Kingspan’s success in 2022. I look forward to meeting many more of you from the Kingspan team on our site visits later this year.


Looking Ahead

No doubt 2023 will bring fresh challenges to Kingspan and the wider global community. However, I remain confident that Kingspan’s strong balance sheet and management’s relentless focus on delivering on its strategy, will continue to build on the success of prior years in bringing sustainable long-term value to our stakeholders whilst supporting the climate change goals of our end users across the globe.


Jost Massebberg

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Learn more about our Strategic Pillars:

Our business model and strategy are enabling the transition from outdated, inefficient, methods of construction to ultra-performance building envelopes.