Download the 2023 Annual Report

Chairman's Statement

Jost Massenberg

I am pleased to report that Kingspan has delivered a strong performance in 2023. Trading profit rose by 5% to €877m (2022: €833m) and earnings per share by 7% to 352.4 cent (2022: 329.5 cent).

Jost Massenberg

2023 Performance 

Trading profit rose by 5% to €877m (2022: €833m) and earnings per share by 7% to 352.3 cent (2022: 329.5 cent). These record results were achieved through our focused strategy of offering an expansive range of sustainable and energy-saving building solutions aligned with our four key pillars of Innovation, Planet Passionate, Globalisation, and ‘Completing the Envelope’.

2023 Strategic Highlights


Our business model and our strategic pillars enable the ongoing conversion to ultra-performance building envelopes from outdated, inefficient, methods of construction.



In our quest to decarbonise, we have focused our innovation on two main strategies: refining existing products with lower carbon alternatives, and exploring new bio-based materials and solutions. During 2023, we launched several lower embodied carbon (LEC) products in our Insulated Panel, Insulation Boards and Data + Flooring businesses.

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Completing the Envelope

During the year, we further expanded our building solutions portfolio with the acquisition of CaPlast, enhancing our Roofing + Waterproofing segment, and since year end we have acquired 51% of Steico SE, a world leader in wood wool insulation, adding to our growing bio-based portfolio.

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We have also continued our organic global growth with new Insulated Panels and Data + Flooring facilities commissioned or in progress during the year in Europe, South East Asia and the Americas. In addition, our planned Ukraine Building Technology Campus is progressing with the selection of a final site location in Lviv.

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Planet Passionate

Throughout the year we continued to make significant progress on our Planet Passionate programme, delivering a 54% reduction in GHG emissions, while at the same time increasing our proportion of on-site renewable energy usage by 34%.

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Subject to approval at the Annual General Meeting, the Board is recommending a final dividend of 26.6 cent per share.

This will give a total dividend for the year of 52.9 cent, (compared to 49.4 cent in the prior year). This is in line with Kingspan’s established shareholder returns policy. If approved, the final dividend will be paid (subject to Irish withholding tax rules) on 20 May 2024 to shareholders on the register at close of business on 12 April 2024.

Management and employees

The success of 2023 could not have been achieved without the hard work of our people.

The Board would like to thank our team for their commitment and dedication, which has been central to the delivery of another strong performance.

Looking Ahead

Kingspan is well positioned with a robust balance sheet, a diversified spectrum of sustainable building solutions and a clear focus on our Planet Passionate objectives.

Management’s strong track record of delivering on our strategy, combined with an exciting product and regional development pipeline, underscores my confidence that we will continue to deliver sustainable long-term value to our shareholders and wider stakeholders alike.

Jost Massebberg

20 February 2024

Read the Chairman’s Statement in full


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Learn about our Strategic Pillars:

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