Kingspan Share Discussion Threads

[wad collector] 01/12/2023 18:18

I have failed to find a new BB since the delisting; I presume because I need to go to the Irish ADVFN site?

[wad collector] 11/7/2023 08:33

TU well received this morning, though a bit disingenuous to trumpet a record high profit that is only predicted to be 1 million above last yrs 434 Million!

[wad collector] 18/6/2023 22:50

I see that we have been written to by Michael Gove

but I seem to have missed his cheerful card , perhaps it went in the bin.
IC are running an article on the issue this week and pointing out it is suppressing the housebuilder share prices but should be affecting KGP too. But if KGP were unaware of the misuse of its product , it is a pretty shallow moral arguement.

[wad collector] 05/5/2023 21:14

I note last week's TU was generally upbeat but also included the plan to delist from the London Stock exchange and just trade in Dublin. Which will have some tax implications.
No mention of the Cladding issue which has resurfaced in Parliament and Kingspan has responded to, but pressure appears to be rising.


47c-8288-0678d68bc659

[wad collector] 10/4/2023 15:15

Xd this week.

[wad collector] 08/3/2023 15:53

No it's not , like me you are forgetting that this is a Share valued at 66 Euros not 66p. Fortunately!

[babbler] 17/2/2023 09:17

That's some divi.

[wad collector] 17/2/2023 08:19

Finals;

Financial Highlights:


Revenue up 28% to EUR8.3bn, (pre-currency, up 25%).
--
Trading profit up 10% to EUR833m, (pre-currency, up 7%).
--
Acquisitions contributed 9% to sales growth and 8% to trading
-- profit growth in the year.
Milestone EBITDA of c. EUR1bn (2021: EUR893.2m) in the financial
-- year.
Group trading margin of 10.0%, a decrease of 160bps.
--
Basic EPS up 8% to 329.5 cent.
--
Final dividend per share of 23.8 cent (2021: 26.0 cent) giving
-- a total dividend for the year of 49.4 cent (2021: 45.9 cent).
Year end net debt(1) of EUR1,539.6m (2021: EUR756.1m). Net
-- debt(4) to EBITDA(4) of 1.62x (2021: 0.88x).
ROCE of 15.9% (2021: 19.5%), or 16.5% after annualised impact
-- of acquisitions.

[wad collector] 16/12/2022 13:40

Bit ironic with the cold spell that the share price of a insulation manufacturer has dropped, with the reminder of how we have much poorly insulate housing stock in the UK .

[disc0dave45] 18/10/2022 16:57

That caught me out too!

[wad collector] 02/10/2022 08:56

The dividend payment is this week, I was puzzling over the numbers until I remembered that , unusually , the prices are all in Euros and not pence, about a 90 fold difference!

[wad collector] 29/9/2022 19:15

It is unfortunate that the takeover of Ondura, the French roofing firm that has just completed, was a cash takeover. This was announced back in Feb with Kingspan share price twice what it is now. Shame, and obviously being wise after the event, that there was not at least a partial payment in shares.
Now with rising interest rates, that heavy borrowing does not look so smart. Though maybe the French recession will not be as deep as ours , and the Forex will be favourable. Actually , if it was agreed as a Euro payment ,(Which was how it was announced, E550M ),that was very unfortunate timing unless they had already hedged it , or are borrowing in Euros.

[disc0dave45] 21/9/2022 13:23

Just had a quick look in here again and H1 was impressive numbers, but not reflected in current share price IMO. Has Grenfell permanently tarnished this business? or will it get rerated back to historic levels?

[wad collector] 19/8/2022 14:46

Half year report out today has strong numbers compared to last yr. I think it is more relevant to compare to the pre-covid figures, and looking at the 2019 half year numbers, it looks even stronger with revenue almost doubled, profits up from 230M to 434m , eps up 90% and the divi doubled. Debt is up too , though hard to interpret in the context of acquisitions, is a concern in the rising interest rates.

[moorsie2] 29/4/2022 08:51

Very strong trading update this morning..

Can see this one testing new highs over the coming months

[moorsie2] 16/2/2022 12:37

exactly - it makes insulation - not cladding.

Arconic make cladding ACMs

[wad collector] 16/2/2022 12:33

Thanks for that , this is what Kingspan say

" We did not supply or recommend K15 to Grenfell Tower. K15 made up approximately 5% of the insulation layer of the façade system. It was substituted without our knowledge."

[moorsie2] 16/2/2022 09:11

that is insulation board not building cladding..

Kingspan do not make ACM

[wad collector] 15/2/2022 13:17

Kingspan's K15 insulation was used in part of the flammable cladding system mounted on to Grenfell Tower.

From the Kingspan product website;

Premium performance insulation for use behind rainscreen or masonry façade systems
Kingspan Kooltherm K15 Rainscreen Board is a premium performance insulation with a fibre-free rigid thermoset phenolic core.

It is manufactured with a blowing agent that has zero Ozone Depletion Potential (ODP) and low Global Warming Potential (GWP).

Offering thermal conductivities as low as 0.021 W/mK, it is suitable for use behind rainscreen cladding systems and masonry façades.



Not sure why you confidently say they don't make cladding.

[moorsie2] 09/2/2022 10:30

kgp dont make cladding..... looks more like government deflection

I cannot see where they are legally responsible for any costs.. happy if someone can show me that they are legally at risk and liable for big costs..

[manlord1] 24/1/2022 22:43

I think they might have to contribute hugely here but on that basis I held off taking a stake. Deadline is March for discussions / agreements on payments so I’d expect it to hover here until then where it will tank on amount required to fix the dangerous cladding or shoot off to 100+ if they are deemed not responsible.

Not sure what way it will go but will watch with a keen eye.

ML

[wad collector] 24/1/2022 09:37

Looks like my fears are justified , wish I had listened to my own questions. Hold and hope I guess...

[wad collector] 10/1/2022 10:36

More headlines about cladding today, all a bit non-specific about who might have to pay .

[moorsie2] 21/4/2021 10:35

UBS was the most bearish broker covering KGP. Raises their target today from 58 to 78.

Now range is 90- 78