Latest news with #GeneMurtagh
Belfast Telegraph
a day ago
- Business
- Belfast Telegraph
Ulster's former sponsors Kingspan strike new deal with French club: ‘We have a strong track record of supporting rugby'
The Kingspan logo will be emblazed on the club's famous rouge and noir jersey for the next four seasons, in a multi-million Euro deal. Bernard Lemaître, President of Toulonnais said: 'This partnership with Kingspan goes beyond jersey visibility. It's about two organisations coming together around a shared vision. We are proud to associate the image of RC Toulon with an international group that embodies innovation, performance, and environmental responsibility.' Kingspan's 11-year sponsorship of Ulster - that included naming rights for the Belfast ground traditionally known as Ravenhill - was dogged by controversary following the Grenfell Tower fire that saw 72 die in June 2017. Kingspan was one of several construction firms to face significant criticism in the final report into the disaster. The company has long said its K15 insulation product, which made up 5% of the insulation in the tower block, was used without its knowledge. Ulster's relationship with Kingspan came to end during the summer. Their Belfast home is now known officially as Affidea Stadium. CEO of Kingspan Gene Murtagh said on the sponsorship deal with the French giants: 'We have a strong track record of supporting rugby globally, and we are delighted to partner with RC Toulon and join the 'Rouge & Noir' family. This partnership is a logical fit for Kingspan as we continue to grow our investment, employment and manufacturing footprint in France.'
Times
10-08-2025
- Business
- Times
Kingspan boss Gene Murtagh greases wheels for bike maker
T he Kingspan boss Gene Murtagh and his family have ridden in behind the champion cyclist Aidan Duff's specialist bike company FiftyOne Bikes. Duff, a former international rider, set up the Dublin-based manufacturer to produce bespoke high-performance, carbon-fibre road bikes and gravel bikes. He'd realised that the real top end of the market was fairly 'samey' and decided to provide highly customised bikes for customers, including the former UFC fighter Conor McGregor and Nicolas Roche, the former Tour de France and Dancing with the Stars competitor, using composite materials. FiftyOne Bikes caters for the more expensive part of the market with gravel and road bikes costing about €5,000 each and customised, hand-built versions even more. I'm told that the fitness-minded Murtagh, who heads up the €13 billion-valued building materials and insulation group, invested along with his wife and family through their Innotrio vehicle. Supplying the construction market, Murtagh should know all about cycles.
Irish Independent
08-08-2025
- Business
- Irish Independent
Kingspan shares unchanged amid lower than expected full-year profit forecast
The Cavan-headquartered company, with a market capitalisation of €13bn, released first-half results on Friday. It said it now expects to deliver a full-year trading profit of €950m, which Davy Stockbrokers said points to a 3.5pc reduction in the broker's expectations. Kingspan, whose chief executive is Gene Murtagh, said that revenue in the first half of the year rose 8pc to €4.5bn. Its trading profit was 5pc higher, at €443m. 'This was a record revenue and trading profit performance, despite the persistently unforgiving economic backdrop that prevails almost everywhere we operate,' noted the group. It said that the first half of the year was characterised by a slow start, with activity improving 'somewhat' as the year progressed. 'Conditions are relatively stable at present, with Western Europe solid for the most part, and Central and Eastern Europe has seen some improvement recently,' it added. 'The US is more tentative than it has been, and in contrast to that LATAM is pushing ahead at an encouraging pace.' Kingspan noted that its insulated building envelopes division continues to benefit from structural growth. Its advanced building systems unit is capitalising on growth from the tech sector, it said. 'As we move into the second half of the year the group's backlog is higher overall than at the same point last year which should support the second half,' according to the group. 'The exchange rate environment has moved significantly since the turn of the year, a likely factor in earnings translation in the second half.' It said that it can 'reasonably expect' to deliver a full-year trading profit of approximately €950m, which would be 5pc higher than in 2024. Davy Stockbrokers said the figure would be lower than anticipated by analysts, however. 'Our current full year forecast is for trading profit of €985m, consistent with the latest Visible Alpha consensus estimate of €986m,' it pointed out. 'Hence we will have to lower our full-year forecast by around €35m (3.5pc).' The first-half trading profit was also lower than the €455m it had anticipated. Davy said its lower full-year forecast reflects that first-half performance combined with continuing difficult trading conditions and a greater than expected foreign exchange translation headwind.
Irish Examiner
08-08-2025
- Business
- Irish Examiner
Kingspan welcomes record revenues of €4.5bn despite 'slow start' to 2025
Irish building materials giant Kingspan saw its revenue rise by almost 8% €4.5bn in the first six months of 2025, welcoming a record performance after what it called a "slow start' to 2025. In a trading update on Friday, Kingspan said its after-tax profits climbed 8% in the six months to €334.2m, with the firms earnings before interest, tax, depreciation and amortisation (Ebitda) rising by 7% in the first half of this year to €572m. Acquisitions contributed 9% to sales growth and 4% to trading profit growth in the six months, with Kingspan investing a total of €398.2m in acquisitions and capital expenditures. Revenue at Kingspan's Insulated Building Envelopes was ahead by 8% and was up by 12% in Advanced Building Systems, while order intake volume in Insulated Building Envelopes was up by 5% and ahead by 10% in value at Advanced Building Systems. 'After a slow start to 2025 and despite geopolitical uncertainty in the period, Kingspan is pleased to have delivered record revenues and trading profits with a strong order book and a promising innovation pipeline as we enter H2," said chief executive, Gene Murtagh. 'Activity levels have firmed as the year progressed and conditions remain relatively stable, albeit with outlook varying by market and segment and supported by continuing structural growth opportunities. "At a macro level, we expect Europe and LATAM to offer more attractive scope in the near term with the US delivering over the medium and longer term as we advance industry penetration and grow our share through innovation. Mr Murtagh added that the firm expects to deliver a full year trading profit of approximately €950m, which would be 5% ahead of 2024. The company also said that it would carry out a share buyback of €650m over the next 18 to 24 months, announcing its intention to repurchase up to 10% of the issued ordinary shares of €0.13 each.
RTÉ News
08-08-2025
- Business
- RTÉ News
Revenue at Kingspan rises 8% to €4.5bn in first half of year
Insulation and building materials manufacturer Kingspan has reported revenue of €4.5bn for the first half of the year, up 8% on the same period last year. The Co Cavan-based company said its trading profit was up 5% to €443m. Its profit after tax increased to €334.2m, up from €310.2m in the first half of last year. After a slow start to 2025, Gene Murtagh, Chief Executive of Kingspan said the company is pleased to have delivered record revenues and trading profits. "Activity levels have firmed as the year progressed and conditions remain relatively stable, albeit with outlook varying by market and segment and supported by continuing structural growth opportunities," he said. "At a macro level, we expect Europe and LATAM to offer more attractive scope in the near term with the US delivering over the medium and longer term as we advance industry penetration and grow our share through innovation," he added. Mr Murtagh said the company expects to deliver a full year trading profit of around €950m - which would be 5% ahead of 2024. "By year end 2025 we also expect to have delivered a 63% reduction in Group Green House Gas emissions relative to 2020 and to roll out an additional 100+ Planet Passionate initiatives, supporting our ongoing sustainability commitments, including sourcing 60% of Group energy requirements from renewable sources," Mr Murtagh added. Breaking down its divisions, sales in Insulated Building Envelopes increased by 8%, mainly acquisitions, with slower sales in the US and solid European activity overall.
