Kingspan said it has seen “strong” order intake across the insulation panels to waterproofing group, which “augers well” for the rest of the year even as the construction sector had a tough start to 2025 with hard weather on both sides of the Atlantic.
Group sales rose 3 per cent on the year to €2.1 billion for the first three months of 2026. While sales in its insulation building envelopes division dipped 2 per cent, its Advnsys unit, which is focused on supplying an international data centre boom with bespoke critical infrastructure, delivered 28 per cent sales growth.
“Overall, the group had a good first quarter despite a tough start to the year due to harsh winter conditions in Continental Europe and much of the US,” Kingspan said ahead of its annual general meeting (agm) in Kingscourt, Co Cavan on Thursday morning. “Order intake activity was strong across the business which augurs well for the rest of the year and beyond.”
The group’s acquisition pipeline “remains strong, including scale opportunities that further advance our tech offering and converging solutions”, it said.
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Kingspan, led by chief executive Gene Murtagh, reiterated its target for full year group trading profit to be in the region of €1.05 billion. It also repeated that it expects “the pace trading profit growth to accelerate between now and the end of the decade beyond what we have achieved in more recent years”.
“We view this as a strong statement from Kingspan,” said Goodbody Stockbrokers analyst Shane Carberry. “Despite a tricky weather hampered start to 2026 (just as others have noted), the first quarter sales number is solid and order activity strong. The order backlog in panels has become incrementally more positive and the Advnsys backlog continues to be exceptional.”
Kingspan said last September that it was looking to float a minority stake in Advnsys in Amsterdam. However, it shelved the idea in January.
Kingspan will hold a capital markets day in the US in November to provide further insights on its strategy,
