Kingscourt, Republic of Ireland -- Kingspan’s insulated panels segment reported sales revenue in excess of EUR1bn (US$1.3bn) last year – a 23% hike on 2012, according to the company’s annual report.
As previously reported in Urethanes Technology International/UTECH-polyurethane.com, Kingspan’s overall sales rose 10% to Euro 1.79bn with 2013 trading profit up 14% on 2012 figures.
Insulated panels sales grew by 1% in the UK, 7% in North America, said the report.
In mainland Europe, insulated panel sales revenue was up by 46% - or by 1% when calculated against figures prior to the acquisition of ThyssenKrupp Construction’s continental European assets at the close of 2012.
The Australasian market growth was described in the annual report as an ‘ebb and flow’ with 2013 reflecting an ebb with 6% less sales than 2012. The company said order for insulated panels in the region was 35% higher than the previous year, which it said “bode well for early 2014.”
In Ireland, insulated panel sales were up 24% said the report.
Kingspan chairman Eugene Murtagh revealed the extent of the turnaround in Kingspan’s core markets. In 2004, he said, more than three quarters of the company’s revenue was generated in the UK and Ireland. Today, 62% comes from markets outside of the UK and Ireland.
Revenue from insulation boards dropped 3% from EUR470.4m in 2012 to EUR455.4m in 2013, according to the report yet trading profit remained the same in both years at EUR29.5m.
UK sales decreased by 1%, rigid board sales were down 8% in 2013 compared to the year before, “reflecting the troubles of certain economies in the Eurozone” it said. Australasia’s sales revenue ended 2013 “11% ahead” on 2012 and Ireland’s sales were up 2% in 2013 compared to 2012 said the report.
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