Summary Financials
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Revenue
€8.6bn
+6%
2023: €8.1bn
EBITDA2
€1.14bn
+7%
2023: €1.07bn
Trading Profit1
€907m
+3%
2023: €877m
Trading Margin3
10.5%
-30 bps
2023: 10.8%
Profit After Tax
€691m
+6%
2023: €654m
EPS
365.2c
+4%
2023: 352.3c
1. Earnings before finance costs, income taxes, depreciation and amortisation
2. Operating profit before amortisation of intangibles
3. Trading profit divided by total revenue
Our Impact
As climate change intensifies, urgent action is critical. Buildings and construction account for 37% of energy-related emissions globally.
Kingspan’s mission is to accelerate a net zero emissions built environment with people and planet at its heart. Through the Completing the Envelope strategy we offer customers a wider range of high-performance building envelope solutions which deliver energy efficient, lower embodied carbon buildings and can also generate renewable energy.
Energy efficient
172m
172m tonnes of CO2e will be saved over the life of our insulation systems sold in 2024
Enough to power a major airline for over 11 years
Note: Assumes 60 year product life; based on an EU airline disclosure of
over 15.4m tonnes of CO2e emissions for 12 months to March 2024
conserved water
44.1bn
Over 44.1bn litres of rainwater will be harvested by our systems produced in 2024
Enough water to fill over 550m baths
Note: Assumes a 20 year product life
recycled material
1.1bn
In 2024 alone, we recycled 1.1 billion waste plastic bottles
Enough recycled bottles to circle the Earth over five times
Note: Equivalent number of PET bottles by weight
natural daylight
3.8bn
Our daylighting systems sold in 2024 create 3.8 billion lumens of natural light annually
Enough to light up 470k homes
Note: Assumes 10 x 60W bulbs per home
Download the full 2024 Annual Report
Download Full Annual Report
Chairman's Statement
Pascal Probst
Headquarters
Burgberg, Germany
Insulated Panels
JI SF Wall 1000 panel
Our unwavering focus on innovation and sustainability supports our position as a global leader in high-performance insulation and building envelope solutions.
Jost Massenberg
Chairman
2024 Performance
Kingspan has delivered record results despite a challenging environment in many of our core markets; trading profit increased by 3% to €907m. EPS increased 4% to 365.2 cent.
These results reflect the strength of our strategy, our disciplined execution and the resilience of our business in an ever evolving global landscape.
During 2024 we expanded our geographic footprint through both organic growth and acquisition. We commissioned new facilities in Europe, the US, APAC and LATAM during the year and acquired controlling stakes in Steico, a global leader in wood fibre insulation, and Nordic Waterproofing, a leading provider of waterproofing solutions in Northern Europe.
We expect to continue to grow our presence in the US and have ring-fenced $1 billion of capital for business developments there, including significant investment in the Roofing + Waterproofing sector over the coming years.
Hospital Vannes
France
Insulated Panels
JI Sonora Vario
Innovation
Our commitment to innovation informed and steered our product development pipeline for new and existing products, including increased use of bio-based materials, lower carbon materials and new product solutions including QuadCore® LEC Panels, Tate Grid+ LEC, and PowerPanel®.
Completing the Envelope
During the year, we further expanded our building solutions portfolio with the acquisition of IB Roof Systems, a high-performance PVC membrane provider. Work commenced on two brownfield sites in Oklahoma and Maryland, which are expected to be commissioned in 2026. We acquired a controlling interest in Villalba, an insulated panels manufacturer in Chile, as well as a majority stake in the Kingspan MV joint venture in Paraguay.
Global
We expanded our geographic footprint through both organic growth and acquisition. Kingspan commissioned new facilities in Europe, the US, APAC and LATAM during the year and acquired controlling stakes in Steico and Nordic Waterproofing. We expect to continue to grow our presence in the US and have ring-fenced $1 billion of capital for Roofing + Waterproofing developments there over the coming years.
Planet Passionate
This programme has been pivotal in driving Kingspan’s sustainability agenda, achieving measurable environmental goals, earning industry recognition, and fostering a culture of sustainability. During the year, we achieved a 61% reduction in Scope 1 and 2 GHG emissions (excluding biogenic emissions) against a 2020 base year.
Louisiana
Universities Marine
Consortium
Louisiana, USA
Insulated Panels
QuadCore® Karrier
Panel® wall panel
Dividend
Subject to approval at the Annual General Meeting, the Board is recommending a final dividend of 28.5 cent per share.
This will give a total dividend for the year of 54.8 cent (compared to 52.9 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 21 May 2025 to shareholders on the register at close of business on 11 April 2025.
Management and Employees
Our people are the cornerstone of our success. Their resilience, creativity and dedication have been instrumental in driving our achievements in 2024.
We are committed to fostering a culture of inclusivity, innovation and excellence, and we continue to invest in their development and wellbeing through initiatives such as our People Passionate programme.
Board Changes
After 12 years of service as a non-executive director, Linda Hickey will retire from the Board after the AGM in May 2025. As Senior Independent Director and Chair of the Remuneration Committee, Linda has consistently provided valuable expertise to our governance and strategy.
Following the AGM, we will welcome Eavan Saunders as a new independent non-executive director. Eavan is the Managing Partner and founder of Irish law firm Dentons.
Ilot 4B
Nantes, France
Insulated Panels
JI Sonora 25 facade
cladding profile
Looking Ahead
The Group’s exceptional management team, strategic initiatives and recent acquisitions position Kingspan for continued growth and to capitalise on emerging opportunities.
Our commitment to innovation, sustainability, and strategic growth will ensure that we remain at the forefront of the industry, delivering value to our stakeholders, driving positive change and creating a more sustainable built environment.
Jost Massebberg
Chairman
25 February 2025
Read the Chairman’s Statement in Full
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