Kingscourt, Ireland – Kingspan, the rigid PIR and PU insulation maker, has had a strong first quarter, according to a trading statement.
Sales were EUR1.28bn in the quarter, up 24% on the 2020 level. 'Significant raw materials inflation is a key feature of the current trading environment,' the company said. It is trying to raise its prices to match the rising cost of its inputs.
Insulated panel sales were up 25% in the first quarter. There were positive sales and order patterns worldwide.
The company said sales of its insulated board were up 12% in the first quarter. There was good growth in a number of European markets, allied to strong sales in North America and Australasia.
Looking to the second quarter, the outlook is positive. The company has a strong order backlog, but is finding it harder to source raw materials.