Share Name Share Symbol Market Type Share ISIN Share Description
Kingspan Group LSE:KGP London Ordinary Share IE0004927939 ORD EUR0.13
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.23 € -0.92% 24.82 € 24.68 € 24.90 € 24.90 € 24.67 € 24.74 € 81,421.00 16:35:18
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 2,774.3 232.0 106.7 23.3 4,388.28

Kingspan Share Discussion Threads

Showing 401 to 423 of 425 messages
Chat Pages: 17  16  15  14  13  12  11  10  9  8  7  6  Older
DateSubjectAuthorDiscuss
24/8/2016
09:36
That BREXIT worry was short lived
hunter321
22/8/2016
09:45
hxxp://www.independent.ie/business/kingspan-confident-in-face-of-brexit-as-profits-beats-estimates-34984298.html
hunter321
29/4/2016
17:39
2016 – The Great Irish Share Valuation Project (Part I): Company: Kingspan Group (KSP:ID) Last TGISVP Post: Here Market Cap: EUR 3,910 M Price: EUR 22.05 Kingspan’s firing on all cylinders… The transition towards more energy efficient buildings & building techniques – in both developed & (increasingly) emerging markets – provides an attractive secular growth tailwind, while relentless industry consolidation underpins an eat or be eaten strategy. Management capitalised on the company’s financial strength (as I’d expected) in late 2014, with an astonishing six month blitz of acquisitions. US/Canadian acquisitions propelled North America to 20% of total revenue, while buying Joris Ide rounded out pan-European exposure & delivered a 25% step-change in revenue. [Astonishingly, KSP still finished FY-2015 with net debt at just 1.0 times EBITDA]. With two acquisitions only closing in H1-2015, annualised H2 results offer a better run-rate, in terms of revenue/profitability. That pegs current trading margin at 9.4%, on €3.1 billion of revenue, leaving Kingspan’s peak 13.3% margin (from 2006) well within its grasp again. A fairer valuation would average the two – implying an 11.3% margin, which deserves a 1.125 Price/Sales ratio (noting the company’s superior cash generation). [NB: Observing market/M&A multiples over the years, per my rule of thumb a 10-12.5% operating margin deserves a 1.0 P/S multiple (on average). And higher margins justify expanded multiples, e.g. a 30% margin might deserve a 4.0-4.5 P/S multiple. Also, see my related DCC notes & commentary here]. And with finance expense a mere 5% of trading profit, Kingspan’s got substantial firepower to pursue more earnings-enhancing acquisitions (without impacting valuation, or imposing undue financial risk). We should upgrade our valuation accordingly, by: i) adjusting for (surplus) cash, and ii) adjusting for incremental debt potential of €0.6 billion*, which would increase finance expense (at a standard 5%) to a still-manageable 15% of trading profit – but we’ll apply my usual 50% haircut to be conservative. [*Here’s the math: (288.4 M Trading Profit * 15% – 14.8 M Finance Expense) / 5%]. Recognising the current & potential growth trajectory here, we should also factor/average an appropriate earnings multiple into our intrinsic value estimate: With earnings up 21% & 70% in the last two years, just about any multiple’s justified…again, to be prudent, we’ll limit ourselves to a 20.0 Price/Earnings ratio, based on a 123 cents adjusted diluted EPS H2-2015 run-rate: (EUR 1.23 Adj Dil EPS * 20.0 P/E + (3,078 M Rev * 1.125 P/S + 212 M Cash + 569 M Debt Adjustment * 50%) / 177 M Shares) / 2 = EUR 23.50 Kingspan’s now marginally under-valued – quite surprising for an outstanding growth story which offers an attractive combination of organic growth & a steady diet of acquisitions. Management’s discipline financing this growth is remarkable too – they’ve increased the outstanding share count a mere 6% in the past decade, relying instead on the judicious use of leverage. KSP’s never really been a cheap stock, but noting its balance sheet strength & capacity to generate cash, plus the white space still ahead (for example) in N America & the Rest of the World, the current share price & price target are well deserved. I wouldn’t be at all surprised to see them marching ahead together in the years to come. Price Target: EUR 23.50 Upside/(Downside): 7% For related links/graphs/files, and more TGISVP analyses/price targets: Google the Wexboy investment blog.
wexboy
09/11/2015
13:36
Great set of results today. Testing all time high hxxp://www.rte.ie/news/business/2015/1109/740561-kingspan-trading-update/
hunter321
19/5/2015
13:31
This is getting close to an all time high
hunter321
18/8/2014
21:28
Merrion Capital suggesting they could spend up to 400 million if management identify other suitable targets.
djderry
26/2/2014
09:31
http://www.irishexaminer.com/business/kingspan-on-a-roll-as-sales-jump-10-259947.html Kingspan on a roll as sales jump 10% Tuesday, February 25, 2014 Shares in insulation products specialist Kingspan jumped by over 3% yesterday after the company published annual results beating both analyst and its own expectations. By Geoff PercivalThe stronger-than-anticipated 2013 figures for the Co Cavan-based firm showed a 10% rise in sales to €1.79bn, an 18% rise in basic earnings per share to 51.7c, and a trading profit of €122.8m, which represented a yearly increase of 14%. The profit figure was 10% ahead of Kingspan's last forecast in November and nearly €5m ahead of most analysts predictions. Pre-tax profit for the year was up from €89.9m to nearly €102m, whilst after-tax profits rose 19% to €89.2m. Kingspan's share price closed up 3.23% at €14.40 yesterday. While revenue slipped by 12% and 3%, respectively, in its environmental and insulation boards divisions, the two units, nonetheless, showing a 25% rise and 0% respective change in trading profit. The group's main business - insulated panels - grew sales revenue by 23% to just over €1.03bn. That division saw sales rise by 46% in mainland Europe, by 1% in the UK, by 7% in north America and by 24% in Ireland.
hunter321
13/2/2013
14:10
Cheers Wex Company: Kingspan Group Prior Post: Here (valuation, no commentary) Ticker: KSP:ID Price: EUR 8.698 Kingspan's insulation & related businesses are in a marvelous niche, attracting both green customers & green investors. However, there's no escape from the economic & construction cycle – while it continues to increase revenues, based on acquisitions & market share wins, operating profit margins remain under pressure. I tagged Kingspan as marginally over-valued last year. Fortunately, its balance sheet remains in good shape, so the share price has responded pretty positively to two new acquisitions. The purchase of ThyssenKrupp's insulated panel business, with EUR 315 mio in Mainland Europe sales, and Rigidal, another panels & roofing business operating in the Gulf region (with $39 mio in sales), adds significantly to future sales. However, the price rally may be based more on hope at this point, rather than any immediate earnings enhancement – as ThyssenKrupp currently operates at a loss, which likely matches/exceeds Rigidal's current profit. But we can expect to see extensive restructuring here, and I'm confident margins will eventually converge to group levels. Meanwhile, the operating profit margin is likely to fall from 6.6% to 5.4%, albeit on higher revenues. However, Kingspan's long-term growth story remains intact. With a rather absurd EUR 141 mio of cash on hand (vs. EUR 338 mio of debt), the total acquisition consideration presents no financial drag. The company may even have some scope for further acquisitions. With a genuine improvement in the economy, and/or the bombed-out construction sector (who knows when?!), it's obvious Kingspan's margins could rocket higher. Meanwhile, it's reasonable to price KSP somewhere between its prospective 5.4% & its historic 13.3% peak operating margin, which would equate to something like a 0.75 Price/Sales ratio. This confirms the company is fairly priced. Price Target: EUR 8.51 Upside: (2)%
ukinvestor220
13/2/2013
05:05
2013 – The Great Irish Share Valuation Project (Part IV) I take a look at Kingspan Group, plus a batch of other Irish stocks: http://wexboy.wordpress.com/2013/02/11/2013-the-great-irish-share-valuation-project-part-iv/ Cheers, Wexboy
wexboy
10/8/2012
13:33
Nice rise today on the back of two acquisition announcements; http://www.irishtimes.com/newspaper/breaking/2012/0810/breaking16.html
mveseyx
02/3/2012
22:10
Irish? does that mean it's 1% stamp duty on these to buy?
luderitz
27/2/2012
10:04
http://www.irishtimes.com/newspaper/breaking/2012/0227/breaking8.html
mveseyx
22/2/2012
16:41
Looking good, broke the Jan 11 high, Aug 08 is the next one to beat.
mveseyx
17/2/2012
11:06
construction and materials, housebuilding seem to be all the rage atm ... KGP about to breakout nicely here.
ukinvestor220
30/1/2012
09:14
Hi folks, Just posted Part III of The Great Irish Share Valuation Project on my blog. I'm setting a Fair Value Price Target for every listed Irish company. So far I've valued almost 3 dozen companies, including Kingspan: http://wexboy.wordpress.com/2012/01/30/the-great-irish-share-valuation-project-iii/ I hope you'll take a look (plse don't hesitate to comment/email me), and perhaps become a regular reader. Cheers, Wexboy
wexboy
22/8/2011
07:15
Half year figures look better than I was expecting
huttonr
30/5/2011
08:58
http://www.irishtimes.com/newspaper/finance/2011/0530/1224298057335.html
lbo
13/1/2011
09:44
mveseyx I am looking for info on this one too,do you have any brokers forecasts. Many thanks. AO
a0148009
06/1/2011
10:28
Anyone got an opinion on this. Highest since Aug 08. Good result due?
mveseyx
16/12/2010
09:31
well the share price keeps rising so i dont know what to think. Next guidance is results early March.
ukinvestor220
16/11/2010
18:05
Kingspan warns order intake in key markets is on the wane http://www.independent.ie/business/irish/kingspan-warns-order-intake-in-key-markets-is-on-the-wane-2421844.html
lbo
19/10/2010
10:39
http://www.independent.ie/business/irish/boi-secures-judgment-of-euro225m-against-businessman-2384760.html BANK of Ireland has secured a €22.5m summary judgment order on consent against Dublin businessman Frank Gormley over unpaid property loans. The bank told the court yesterday that it intends to seek similar orders shortly over the same loans against Smart Telecom purchaser Brendan Murtagh and two Cork businessmen
lbo
24/9/2010
16:53
http://www.herald.ie/opinion/dan-white-we-turned-a-corner-alright-but-it-led-us-to-a-dead-end-2351863.html my banker friends -- yes, I still have a few -- whisper to me that even firms they previously reckoned were rock solid are now coming to them with serious problems.
lbo
Chat Pages: 17  16  15  14  13  12  11  10  9  8  7  6  Older
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:42 V: D:20161204 10:15:36