Skip to main content
Sister Publication Links
  • Middle East Foam & Polyurethane
  • UTECH Asia/PU China
  • UTECH Europe
  • UTECH Las Americas
Subscribe
  • My Account
  • Login
  • Subscribe
  • Ukraine
  • News
    • Asia
    • Americas
    • Europe
    • M & A
    • Financial results
    • Automotive
  • Data
  • Information
    • Country Overview
    • Market Sector overviews
    • Technical articles
    • Company profiles and strategies
  • Events
    • Exhibitions
    • Conferences
    • Webinars / Livestreams
    • Become a Speaker
  • Advertise
  • Contact Us
  • Issues
  • Subscribe
MENU
Breadcrumb
  1. Home
  2. News
February 20, 2023 09:48 AM

Healthy sales growth reported by Kingspan

Sarah Houlton
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    Kingscourt, Ireland – Sales at Kingspan, the Irish-based manufacturer of PU and PIR insulation products, reported strong growth in sales in 2022. Overall sales of €8341m represent a 28% increase over the previous year. Profits were up 10%, from €755m to €833m. Its EBITDA hit €1bn for the first time.

    Sales in its largest business unit, insulated panels, were up 23% to €5182m, with trading profit up 5.6% to €549m. In its insulation business, sales were €1658m, up 40% from 2021, with profits rising 13% to €165m.

    Murtagh: satisfactory in a bumpy year

    The company said that the sales increase in the insulated panels unit was driven by growth in raw material prices, alongside a 46% increase in the global sales volume of its QuadCore panels. Inflation and acquisitions were the main driver in the insulation business, with technical insulation now making up about a third of the division’s revenue.

    “The 2022 outturn was very satisfactory in the context of accumulating uncertainty over the course of a bumpy year that saw a strong first half performance giving way to a more subdued environment in the second half of the year,” said CEO Gene Murtagh.

    “Notwithstanding ongoing challenges in the global economy, we expect to see a continuation of the structural drive in favour of more sustainable buildings over the longer term.”

    Kingspan numbers 2022 (€m)
    Group 2022 2021 Change %
    Sales 8341 6497 28
    Trading profit 833 755 10
    Margin % 10.0 11.6
    Insulated panels
    Sales 5182 4229 23
    Trading profit 549 520 5.6
    Margin % 10.6 12.3
    Insulation
    Sales 1658 1183 40
    Trading profit 165 147 13
    Margin % 10.0 12.4
    Source: Kingspan
    Recommended for You
    Joerg Palmersheim at Polyurethanes Technical Conference
    Isopa: Reach regulations could extend to all isocyanates
    Stepan gains its first ISCC Plus certification
    Stepan gains its first ISCC Plus certification
    Foamer Eagle Industries issues Warn notice of potential layoffs
    Foamer Eagle Industries issues Warn notice of potential layoffs
    Latest Issue
    urethanes technology
    Get the latest edition here
    View All Archives
    Get our newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Register to access our archive of leading information on the polyurethanes industry.

    Subscribe now
    Connect with Us
    • Twitter
    • LinkedIn
    • Facebook
    • Youtube

    Follow us on social media for the latest polyurethanes industry news and event updates.

    Logo
    Contact Us

    Crain Communications
    11, Ironmonger Lane
    London
    EC2V 8EY
    United Kingdom

    Editorial
    Phone +44 (0) 20 3287 5935
    Email click to send

    Customer Service
    Phone +1 313 446 0450
    Email click to send

    Resources
    • Advertise with Us
    • Media Kit
    • Staff
    • Careers
    • Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • Ukraine
    • News
      • Asia
      • Americas
      • Europe
      • M & A
      • Financial results
      • Automotive
    • Data
    • Information
      • Country Overview
      • Market Sector overviews
      • Technical articles
      • Company profiles and strategies
    • Events
      • Exhibitions
      • Conferences
      • Webinars / Livestreams
      • Become a Speaker
    • Advertise
    • Contact Us
    • Issues
    • Subscribe