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Wexboy your analysis in this instance seems too narrowly focused and rigid. The present share price well exceeds your pessimistic forecast.
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
The insulation boards business experienced a 3% increase in revenue in the nine month period compared to the same period the previous year. On a constant currency basis these measures were 0% and -3% respectively. Divisional revenues continued to benefit from a strong Kooltherm business mix across all markets as seen earlier in the year, the group said, adding that the UK market was solid overall with some volume weakness evident. It did however say that the market in the Netherlands remains persistently weak with little evidence of any near term recovery. The company believes that it will generate a trading profited of around €105m, up 10% year on year, and in line with consensus. In a statement the group said: "Australian construction markets are evidently slowing although Kingspan's sales continue to grow reflecting improving levels of market penetration. Overall, general building activity across a number of the group's markets has been easing, with some pockets of relative buoyancy including Central and Eastern Europe, most notably Germany. "While it is clearly difficult to fully counter persistent economic and construction weaknesses, which have the potential to become more pronounced in early 2013, the structural and global dimensions to Kingspan's business should go some way to offsetting this, as it has done in the past. Growing market penetration, a strong R&D pipeline, resilient refurbishment activity and driving the returns from recent acquisitions should all combine to move Kingspan forward."
Kingspan Group, which provides low energy building solutions, saw its shares dip after admitting that the pace of sales growth decreased 0.7 per cent in the third quarter compared to the same period in 2011. The drop was the result of a relatively subdued sentiment in the company's end markets, a situation which the company admits has worsened. Desite this, revenues in the nine months ended September 30th rose 1.6% to €1.16bn. Going forward, the company has warned that the there is a deepening lack of confidence in Europe. Divisionally, the company's insulated panels business saw a 3.0% increase in revenue for the first nine months of the year compared to the same period in 2011, although on a constant currency basis these measures were -1% and -3% respectively. In the UK and Western Europe year-to-date order intake is flat, but decreased by 7% in the third quarter. Order intake in Central and Eastern Europe was ahead of last year in the period up to 30 September by 4% and also by 4% in the third quarter. In North America the business suffered from relatively subdued sales, with sales levels behind the year-to-date by 2%, although 15% ahead on the third quarter.
Kingspan Group plc ("Kingspan") announces completion of the acquisition of ThyssenKrupp Construction Group and Rigidal Industries LLC Further to its announcement on 10 August 2012, Kingspan, the global leader in high performance insulation and building envelope systems, is pleased to announce that following receipt of local regulatory approvals it yesterday completed the acquisition of the various companies which comprise ThyssenKrupp Construction Group. In addition, Kingspan also announces completion last week of the acquisition of Rigidal Industries LLC. There are no material changes to the terms of the transactions as originally announced.
http://www.investegate.co.uk/Article.aspx?id=201209110700039256L
Kingspan Group Sell 06-Sep-12 € 515,200.00 Russell Shiels 64,400 @ € 8.00
Good figures and returns but the market is likely to focus on the 'weakness' comments for the months ahead.
Looking Ahead The macro backdrop in recent years has been variously described as challenging and uncertain. This is the environment we now operate in, and we remain focused on what we can influence, continuing to make progress in that context. As outlined, after an encouraging start to the year markets moderated through the second quarter. Without looking too far ahead, it is likely that the Group's trading environment for the remainder of the year will weaken further from that experienced in the second quarter. That said, the Group enters the second half with a positive orderbook overall. In Insulated Panels the orderbook at the end of June 2012 was ahead of the same period last year in North America by +3%, in the UK and Western Europe by +13% and CEE by +22%. In Insulation Boards, the trend seen in the year to date of overall volume weakness relieved somewhat by a positive sales mix can be expected to continue in the near-term, although activity in the Netherlands is likely to ease further. Our Environmental division is likely to record more pronounced weakness in the second half, versus the same period last year, at which time sales to France were at a peak. Somewhat encouraging in the year to date were sales of Access Floors and, in the second half, performance could be modestly ahead of the same period last year. Overall, the Group will continue to drive its conversion approach with the objective of increasing market penetration for higher performance insulation and building envelope solutions. Our focus will continue on iteratively rebuilding margin and returns on capital through greater efficiency, product specification, innovation and operating leverage, not alone in Kingspan's existing businesses, but in the recently acquired TK Construction businesses across Europe. The Group has a strong, well capitalised balance sheet and, overall, is well placed to progress in the years ahead.
Gene Murtagh, Chief Executive of Kingspan commented: "Kingspan is very pleased to report another period of progress for the Group through a combination of organic growth and the successful integration of acquisitions. The trading environment across many of our geographies continues to be very uncertain which is having a moderating impact, albeit with Kingspan continuing to outperform the general markets in which we operate."
Operational Highlights: · Insulated Panels divisional sales up 3% and trading profit up 25% reflecting a higher specification sales mix and penetration growth in developing markets · Insulation Boards divisional sales up 4% and trading profit up 7% reflecting proportionately higher sales of Kooltherm® somewhat offset by pricing pressure in PIR board · Access Floors divisional sales up 20% and trading profit up 31% reflecting strong datacentre volumes and a gradual improvement in office activity · Environmental divisional sales down 12% and trading profit flat on prior year due, predominantly, to the conclusion of a contract in France and lower UK social housing refurbishment · Agreement reached in August to acquire the businesses of Thyssenkrupp Construction in Europe and, separately, Rigidal Industries LLC in the UAE. Combined revenue in 2011 was approximately €340m
Kingspan, the global leader in high performance insulation and building envelope solutions, presents its half-yearly financial report for the period to 30 June 2012 Highlights: Financial Highlights: · Revenue up 3% to €757.4m, a decrease of 1% on a constant currency basis · Trading profit up 19% to €52.7m, an increase of 14% on a constant currency basis · Margin prioritised over volume, resulting in Group trading margin of 7.0%, an increase of 100bps versus the same period in 2011 · Basic EPS up 28% to 22.1 cent · Interim dividend per share up 11% to 5.0 cent · Net debt of €171.2m (H1 2011: €207.2m). Net debt to EBITDA of 1.2x (2011:1.8x) and interest cover of 9.9x (2011:12.2x) · Successful re-financing of a five year €300m syndicated bank facility in April 2012 extending the weighted average maturity of the Group's debt facilities to 5.3 years (June 2011: 2.8 years)
http://www.investegate.co.uk/Article.aspx?id=201208200700043094K
Gene Murtagh, Kingspan CEO, commented: "These acquisitions are an exciting development for Kingspan. The ThyssenKrupp business will transform our Mainland Europe insulated panels market presence in a region where market penetration is growing, rooted in the need for more energy efficient buildings. The Rigidal Industries LLC business is an excellent platform to develop our existing business and market presence in the Gulf region where demand is growing. These acquisitions represent another step in furthering the Group's global presence and route to market."
Kingspan Group plc ("Kingspan") announces the acquisition of ThyssenKrupp Construction Group and Rigidal Industries LLC Kingspan, the global leader in high performance insulation and building envelope systems, is pleased to announce that it has entered into an agreement with ThyssenKrupp Steel Europe AG to acquire 100% of the share capital of the various companies which comprise ThyssenKrupp Construction Group, the leading European insulated panels business. ThyssenKrupp Construction Group, which includes market leading brands including Hoesch, Isocab and EMS, has seven well invested manufacturing plants in Germany, France, Belgium, Austria and Hungary. The business had sales in the year to 31 March 2012 of €315m and recorded an operating loss of €5.7m in the period. It has gross assets of circa €101m. The purchase consideration is circa €65m, of which circa €50m is payable in cash on completion and circa €15m represents assumed past service pension liabilities. The consideration is based on acquiring the business free of cash and bank debt and will vary depending on the timing of completion. The agreement is subject to local regulatory approval. Separately, Kingspan is also pleased to announce that it has agreed to acquire 100% of the share capital of Rigidal Industries LLC, a leading Middle Eastern manufacturer of composite panels and roofing systems based in Dubai with an extensive route to market in the Gulf region. It had sales of US$39m in the year to 30 June 2012. The consideration, on a debt free cash free basis, is US$38.6m of which US$30m is payable in cash on completion. Completion of the acquisition is subject to local approval. These acquisitions are expected, in aggregate, to be modestly earnings accretive in 2013 having regard to the restructuring and integration initiatives to be implemented in the ThyssenKrupp business. The acquisitions will be funded in full from Kingspan's existing debt facilities.
http://www.investegate.co.uk/Article.aspx?id=201208100958227686J
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
Was this an increase?? http://www.investegate.co.uk/Article.aspx?id=201105231512101100H Are they the same investors that did the sit visit to Tiel on the 19th, http://www.investegate.co.uk/Article.aspx?id=201105191001589114G Anyone else holding these?? last set of results were strong considering the economy! gla
Kingspan nervy over inflation Date: Monday 28 Feb 2011 LONDON (ShareCast) - Building insulation specialist Kingspan saw its first year-on-year sales growth since 2007 last year, but is worried about inflation. “All regions are likely to confront industry-wide cost inflation in 2011 which must be passed through to end markets,“ it said. Turnover in 2010 rose 6% to €1.19bn from €1.13bn, with pre-tax profits coming in at €55.7m against €56.7m. Operating profits rose to €67.4m from €62.7m. Volumes of Insulated Panels were up by 19% in the second half over the first six months and by 5% over the comparable period last year. “Low rise commercial construction in the UK can be expected to be flat in 2011, as can the housing sector. The backdrop is likely to be similar in North America, however Germany and Central Europe should show modest growth, with Australia likely to remain strong. Refurbishment across many markets could reasonably be expected to grow, “ Kingspan said The dividend for the year is 10c (nil).
http://www.investegate.co.uk/Article.aspx?id=201011150700071383W
Cant belive this share is still at this price, this is a big deal that is going through! http://www.investegate.co.uk/Article.aspx?id=201011111536390539W
Kingspan Group PLC Half Yearly Report RNS Number : 4383R Kingspan Group PLC 23 August 2010  KINGSPAN GROUP PLC 2010 HALF-YEARLY REPORT Six months ended 30 June 2010 Highlights: ¾ Operating profit growth for the first time in three years, up 9% to €33.1mn; ¾ Continued steady reduction in debt, down from €230.8mn at June 2009 to €135.1mn; ¾ Resumption of growth in UK Insulated Panel markets, order intake up 14% on half one 2009; ¾ Strong growth in US & Central Europe Panels intake and orderbook, which will help deliver a solid second half; ¾ Insulation sales growth of 12% including the acquisition of the Australian business, and encouraging growth in the Mainland Europe business; ¾ Access Floors sales decline, although margins and profitability both remain robust; ¾ Capital expenditure curtailed to €9.6mn; ¾ Resumption of an interim dividend of 4c per share.
good http://www.investegate.co.uk/Article.aspx?id=201008230700134383R
come on kingspan keep creeping upwards until 23rd Aug and then ...........up up and away....
nice steady movements in the right direction........ should be GOOD news in 2--3 weeks