Choose Country Share Search About Us Our Commitments Our Solutions Our Projects More HOME Investors 2020 in Review 2020 in Review The company’s financial performance in 2020 was robust, with the deep reduction in activity in April and May partly offset by a strong recovery towards the end of the year. Continued cost discipline helped us to deliver a small increase in trading profit despite the decline in revenue, and our organic and acquisition-led expansion of the business remains an ongoing focus. The role our products can play in helping customers to reduce carbon emissions over the lifetime of a building is growing in importance. We also completed the first year of our ambitious Planet Passionate programme which is tracking 12 targets we have set the business to reduce its own environmental footprint. 2021 has started well, with performance helped by the strong backlog of activity from last year. Raw material price inflation is a significant ongoing issue to manage, but sentiment across our end markets is positive. Gene M. Murtagh, Chief Executive Officer, Kingspan Group PLC 2020 in a Nutshell Products 64% Insulated Panels 17% Insulation Boards 10% Light & Air 5% Data & Flooring Technology 4% Water & Energy Drivers 85% Energy Efficiency & Conversion 15% Other Geography 36% Western & Southern Europe 22% Central & Northern Europe 20% Americas 16% Britain 7% ROW Sectors 68% Commercial & Industrial 18% Residential 14% Office & Data End Market 76% New Build 24% Refurbishment Channel 70% Direct 30% Via Distribution Financial & Operational Highlights €4.6bn Revenue €596.5m EBITDA €508.2m Trading Profit* +110bps ROCE *Operating profit before amortisation of intangibles and non trading items Financial Highlights Operational Highlights Five Year Financial Summary Revenue down 2% to €4.6bn, (pre-currency, in line with prior year). Trading profit up 2% to €508.2m, (pre-currency, up 5%). Free cashflow up 42% to €479.7m. Group trading margin of 11.1%, an increase of 40bps. Basic EPS up 1% to 206.2 cent. Final dividend per share of 20.6 cent. Total dividend for the year up 58%, compared to 13.0 cent for 2019 (as adjusted for the calculation). Year-end net debt1 of €236.2m (2019: €633.2m). Net debt1 to EBITDA1 of 0.4x (2019: 1.1x). ROCE of 18.4% (2019: 17.3%). 1 Net Debt and EBITDA both pre-IFRS 16 Business Review 2020 was a tumultuous year for Kingspan, as it was for many. After a relatively strong start, April and May saw a deep reduction in activity in many markets, followed by a rebound towards mid-year and ultimately a strong finish in the fourth quarter. Full year revenue was down 2% to €4,576m and trading profit was ahead by 2% to €508.2m, after accounting for repayment of all Government COVID supports worldwide. Net debt was €236.2m at year end, the lowest level in a number of years and leaves our balance sheet in an exceptionally strong position. Globally, governments reacted in varying ways to the crisis which resulted in an economic experience which was equally variable. All markets suffered interruption to some degree although in our case it was particularly acute in the UK, Spain, Canada and Ireland. Most other markets recovered to, and in some cases exceeded, the performance of 2019. Raw material prices moved broadly to our advantage for much of the year but we experienced significant inflation in the fourth quarter. We expect further significant increases in our raw materials in early 2021 and the effort to recover these through price increases is underway and will be a challenge. The climate action agenda continues to gather pace globally. With energy from buildings accounting for roughly 40% of all emissions, a more thermally efficient building envelope will be vital in curtailing global temperature rises. Insulation will be central to this effort. At Kingspan we aim to provide the broadest possible spectrum of solutions to enable this reduction in emissions. These solutions must be able to stand the test of time, and Kingspan’s warrantied performance should prove to be a compelling advantage to building owners in their quest to achieve emission reductions over the lifetime of the building. Planet Passionate 2020 was the first full year of implementing the initiatives of our Planet Passionate programme. The ten-year programme focuses on twelve distinct targets in the categories of Energy, Carbon, Circularity and Water. See below for a full list of our twelve targets: Energy Carbon Circularity Water Maintain our Net Zero Energy status Increase our direct use of renewable energy to 60% by 2030 Increase our on-site generation of renewable energy to 20% by 2030 Install solar PV systems on all wholly owned facilities by 2030 About Kingspan Our Company Our Mission Our History Business Streams Kingspan News Contacts Investors Share Price Data 2020 in Review Reports & Presentations Investor Contacts Regulatory News and Alerts Analyst Coverage Financial Calendar Investors Our Commitments Innovation Planet Passionate People & Community Legal Information Cookie Policy & Control Website Privacy Notice Terms & Conditions of Website Use © Kingspan Group We use cookies on our website www.kingspan.com. To find out more about the cookies we use, or to change your cookie preferences i.e. to remove your consent to our use of certain categories of cookies, please visit our Cookie Policy & Control page. 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