Kingspan Q3 Report 2023

Sales in the nine-month period to 30 September were €6.14bn, down a touch on the same period in the prior year and in the third quarter. Sales pre currency and acquisitions were down 7% in the year to date and in the third quarter.

At this point in the year, we are on track to deliver a record full year trading profit, comfortably ahead of 2022.

Insulated Panels sales improved sequentially in the third quarter, down 9%, and by 10% in the first nine months. Third quarter sales volumes were up mid-single digit globally. Activity in the Americas remains strong overall, France is robust, the UK market has weakened considerably since mid-year with central and eastern Europe stable at sluggish levels of activity. Our innovation agenda continues to progress, notably QuadCoreTM LEC Panels attracting interest across all key markets. PowerPanel is on track for launch in the first half of 2024. Whilst activity levels overall are subdued, global order placement has been ahead for the last five months in succession.