Latest news with #Kingspan
Irish Times
3 days ago
- Business
- Irish Times
Norwegian sovereign wealth fund invests €400 million in Kingspan
Norway's sovereign wealth fund has taken a stake worth more than €400 million in Dublin-listed insulation and building materials specialist, Kingspan Group, the Sunday Times reports. Norges Bank, which manages the Government Pension Fund Global, took a 3.06 per cent position in the company at a share price of €75.50 on Friday. The total central bank managed fund is worth around $1.8 trillion. In a trading update for the quarter ended March 31st, Kingspan said it overcame a slow start to the year to record a good financial performance. Group sales rose 9 per cent year on year to €2.1 billion, and were 'modestly ahead' on an underlying basis. Sales of its insulated panels rose 4 per cent, while underlying sales were broadly in line, while insulation sales saw a similar performance, and roofing and waterproofing sales were up 55 per cent on the acquisition of Nordic Waterproofing. Amazon Web Services discussing €3.5 billion Arklow data centre takeover Amazon Web Services (AWS) is in early takeover talks with Echelon Data Centres regarding its €3.5 billion data centre Arklow, the Business Post reports. Neither party in the discussions commented. READ MORE Echelon, which launched the Arklow site project last month, are also planning a second data centre on a near-by site. The site was the first Irish data centre to receive a grid connection and is situated close to the SSE Renewables Arklow Bank Wind Park 2, from which it is said to be planning to purchase energy to offset the power demand from the data centre. Four Star Pizza feels the heat during franchise tech tensions Tensions have risen between Four Star Pizza and some franchisees following the introduction of a new digital trading system to handle sales within stores, The Sunday Times reports. Franchised pizza delivery business, Four Star Pizza Ireland, which owned by the Fitzwilliam hotelier Michael Holland is currently going through an expansion. Franchisees are said to be unhappy with the operation of the new system, and have resisted its implementation. The Sunday Times said it understands that franchisees have consulted legal advisers and are seeking a meeting with management on the matter. A statement from Four Star Pizza management said that it had a forum for franchisees to 'air opinions' and outside of which its communication 'has never been better'. Ryanair flights grounded by GPS issues Up to 50 Ryanair aircraft were temporarily grounded last week due to global positioning system (GPS) issues across a number of airlines, the Sunday Independent reports. Newer aircraft such as the Boeing 737 Max and Airbus 320s were particularly impacted by the problems which left thousands of passengers facing significant delays over a number of days, peaking on Thursday, May 21st. While it is reported no passengers were ever put in danger by the issues, numerous flights from Dublin, Cork, Shannon, Kerry and Knock airports faced issues.
Irish Times
6 days ago
- Business
- Irish Times
Stocks rise as markets grapple with US trade ruling
Global stocks rose while the US dollar weakened after giving up earlier gains against big peers on Thursday as markets digested the surprise ruling of a trade court that blocked US President Donald Trump's so-called 'Liberation Day' tariffs. The US Court of International Trade issued a ruling late on Wednesday that Trump overstepped his authority by imposing across-the-board duties on imports from trading partners. The decision triggered a court battle that would likely weigh on markets, after the Trump administration swiftly appealed the ruling and appeared poised to fight up to the US supreme court if needed. Dublin Ryanair rose marginally to €23.74 but the move was significant for chief executive Michael O'Leary, who is now set for a monster €100 million bonus after the airline's shares hit a key performance target. READ MORE The €23.74 close marked the 28th consecutive day the stock has closed above €21, the target for Mr O'Leary was set as part of a 2019 incentive scheme. The only thing stopping Mr O'Leary getting one of the biggest payouts in European business history is if he leaves before July 2028. Insulation maker Kingspan, which has a big operation in the US, rose by 1.46 per cent to €76.65 in line US market moves. Hotel group Dalata fell by close to 1 per cent to €5.68 as figures from the Central Statistics Office pointed to an ongoing decline in tourist numbers here. However, industry representatives disputed the numbers, suggesting the industry was experiencing stronger footfall. Europe Europe's Stoxx 600 index was down 0.13 per cent, after rising earlier in the session. Media and utilities stocks were the worst performers, both down around 0.5 per cent. Euro zone government bond yields inched down on Thursday as investors worried about the long term economic outlook after a federal court blocked most of Mr Trump's sweeping tariffs. Germany's 10-year government bond yield, the euro area benchmark, fell 3.5 basis points (bps) to 2.51 per cent. London British equities were mixed on Thursday, as losses in utilities offset positive sentiments on the US court's decision. The blue-chip FTSE 100 fell 0.1 per cent, while the domestically focused FTSE 250 rose 0.3 per cent. On Wednesday, the US Court of International Trade ruled that Trump overstepped his authority by imposing duties on trading partners, invalidating most of his tariffs since January. However, the ruling did not address some industry-specific tariffs on automobiles, steel, and aluminium. However, US White House economic adviser Kevin Hassett said three trade deals were nearly done and he expected more despite the judgment. Bond-proxy utilities were the biggest laggards on the blue-chip index, falling 2.1 per cent. National Grid and Severn Trent fell 3.8 per ent and 2.3 per cent, respectively, after trading without entitlement to their latest dividend payouts. Shares of automotive platform Auto Trader tumbled 11.3 per cent to a more than one-month low after missing annual revenue estimates. Hollywood Bowl fell 10.3 per cent, leading the decline in mid-cap index. The company which runs tenpin bowling centres in the UK and Canada, posted 9.4 per cent fall in half-year pretax profit to £28 million. New York Wall Street's main indexes rose on Thursday after a federal court ruled against most of US President Donald Trump's tariffs and AI bellwether Nvidia reported a 69 per cent surge in quarterly sales. Nvidia jumped 5 per cent after reporting higher-than-expected quarterly sales growth, driven by customers stockpiling AI chips in advance of US export restrictions on China. The company, however, warned that the new curbs are expected to cut $8 billion from its current-quarter sales. 'We're in a secular growth trajectory here for AI, AI investment, and everything seems to be lining up for the next kind of multi-quarter expansion across AI,' said David Russell, global head of market strategy at TradeStation. Dow component Salesforce weighed on the index, with its shares slumping 5.4 per cent even as the enterprise software provider raised its annual revenue and adjusted profit forecasts. Apple, which Mr Trump threatened with tariffs last week, rose nearly 1 per cent. Tesla rose 2.2 per cent and Amazon added 1.2 per cent among megacap and growth stocks. – Additional reporting by Reuters
Irish Times
27-05-2025
- Business
- Irish Times
German deal points to value in Kingspan's work with data centres
Reports over the weekend that artificial intelligence (AI) group OpenAI's latest ChatGPT has been caught ignoring human instructions to shut down may be the stuff of apocalyptic nightmares. Yet the AI genie is well out of the bottle at this stage. McKinsey , the management consultancy firm, estimated in a recent report that $6.7 trillion (€5.9 trillion) will need to be spent on data centres globally by 2030, driven by demand for hubs equipped to handle AI processing loads. AI demand alone will require $5.2 billion of data centres investment, it said. One Dublin-listed company that should be a major play for investors in this trend is Kingspan , analysts say. The Cavan-based group's data solutions division, which designs and makes raised access flooring, structural ceilings, and airflow solutions for data centres, saw its trading profit jump more than 50 per cent last year to almost €78 million to make up 8.6 per cent of total profits. READ MORE Goodbody Stockbrokers analyst Shane Carberry estimates the unit's profits could grow by more than 30 per cent in 2025. He said in a note to clients in recent days that the division is on track to deliver €200 million in trading profits by 2027, a fourfold increase on 2023. Carberry said a deal struck earlier this month – Samsung Electronics's agreement to buy German heating, ventilation and air-conditioning provider to data centres, FläktGroup – points to some serious value in Kingspan's data solutions business. He reckons the unit could be worth €4.25 billion, based off the value of the FläktGroup and its estimated earnings. That equates to about a third of Kingspan's current market value. The €4.25 billion valuation implied by the German deal suggests the market is applying a 'gross undervaluation' to the wider group, based off consensus earnings estimates for 2027. 'The data centre 'boom' is no secret and it is clear that companies like Samsung Electronics are trying to take advantage but having to pay hefty multiples to do so,' he said. 'We believe that few are better placed than Kingspan to capitalise on this mega trend.' Still, stock market investors remain cautious for now – with the stock down 17 per cent over the past 12 months, compared with a 13 per cent advance by the Iseq All-Share index – amid concerns about the wider global economy.
Irish Times
16-05-2025
- Business
- Irish Times
Upbeat corporate results fuel further market gains
European shares rounded off their fifth week of gains on Friday, as trade deals out of the US eased tariff worries and strong corporate results provided further boost. But shares in Wegovy-maker Novo Nordisk fell after a shuffle at the top saw its chief ousted. DUBLIN The Irish index of shares ended the week on a sour note, closing half a per cent off the pace. The market was dragged lower by declines in heavyweights such as Kingspan and Glanbia. The latter was down 2.3 per cent to €11.80 by the close, while insulation specialist Kingspan fell 0.9 per cent to €76.80. READ MORE Banking stocks were also lower, with AIB down 0.3 per cent and Bank of Ireland losing 1.1 per cent over the day. Permanent TSB was also lower, falling by 1.4 per cent by the time trading ended for the week. Food group Kerry was a bright spot in the day's trading, hitting a high of €96.75 earlier, before falling back to €95.35, a rise of 1.9 per cent over the session. Travel and leisure stocks were mixed. While hotel group Dalata was up 1.9 per cent to €5.40, airline Ryanair saw its stock decline 1.3 per cent to €22.41. Ferries group Irish Continental was flat. LONDON British equities closed higher on Friday, as the recent de-escalation of the global tariff war supported risk appetite, while investors anticipate more trade agreements ahead. The blue-chip FTSE 100 gained 0.6 per cent, closing at its highest in nearly two months. The index posted a weekly gain of about 1 per cent. On Friday, president Donald Trump said US officials will send letters to countries in the next few weeks, outlining the costs associated with doing business in the United States, though he did not provide additional details. UK's healthcare subindex gained 1.7 per cent, with AstraZeneca posting a 1.9 per cent rise. Energy stocks gained 0.9 per cent after oil prices edged up. Heavyweight BP gained 1.2 per cent in the FTSE 100. Keeping gains in check, precious and industrial metal miners fell 1.9 per cent and 1.6 per cent, respectively, tracking lower gold and copper prices. Future fell 10.3 per cent, the top loser among midcap stocks, after the publishing firm said it will adopt a 'more cautious view' for the second half of the year. EUROPE The region-wide STOXX 600 index closed up 0.4 per cent. Most local bourses were also higher, with Germany's, hovering near a record high. Luxury group Richemont rose almost 7 per cent after reporting a slightly stronger-than-expected 7 per cent rise in quarterly sales. It lifted the personal and household goods sector, 1.2 per cent, while the luxury index rose 2.2 per cent. Heavyweight healthcare shares were the biggest boosts, jumping 1.2 per cent, boosted by AstraZeneca and Novartis. But Novo Nordisk fell 1.8 per cent after the drugmaker ousted chief executive Lars Fruergaard Jorgensen on concerns the company is losing its first-mover advantage in the obesity drug market. The company had earlier this week cut its sales and profit forecast for the first time since the launch of Wegovy four years ago. NEW YORK Wall Street was lower on Friday though global equities were still poised for weekly gains, as upbeat earnings helped sustain the rally sparked by a US-China trade truce. Oil prices remain relatively low, further supporting stocks and bonds. Wall Street's main indexes were lower on Friday, but were still on track for a robust weekly gain. MSCI's gauge of stocks across the globe retreated 0.09 per cent. The Down Jones Industrial Average fell 0.03 per cent, the S&P 500 retreated 0.07 per cent and the Nasdaq Composite was down 0.27 per cent. It had largely been a positive week for global equity markets, as investors cheered a tariff truce between the United States and China that greatly reduces the risk of a global recession. But Walmart, the world's largest retailer, said it would have to start raising prices later this month due to the high cost of tariffs. – Additional reporting: Reuters
Yahoo
14-05-2025
- Business
- Yahoo
Rainscreen Cladding Market Size Projected to Exceed USD 22.56 Billion by 2031, With a Promising CAGR of 6.2%
The report runs an in-depth analysis of market trends, key players, and future opportunities. The Rainscreen Cladding Market analysis focuses on a vast array of applications that are expected to determine market strength in the coming years. US & Canada, May 14, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the global Rainscreen Cladding Market is observing significant growth owing to growing demand from construction and infrastructure industry. The Global rainscreen cladding market Growth is driven by increasing demand for energy-efficient and moisture-resistant building solutions, especially in commercial and institutional sectors. Terracotta and composite materials lead due to durability and aesthetic appeal. Key players include Kingspan, Rockwool, and Trespa. Challenges encompass high installation costs and regulatory compliance. Nonetheless, technological advancements and sustainable construction practices continue to bolster market explore the valuable insights in the Rainscreen Cladding Market report, you can easily download a sample PDF of the report - Overview of Report Findings Market Growth: The Rainscreen Cladding Market was valued at US$ 15.01 billion in 2024 and is projected to reach US$ 22.56 billion by 2031; it is expected to register a CAGR of 6.2% during 2025–2031. The global Rainscreen Cladding Market is observing substantial growth and is expected to maintain its upward trajectory in the foreseeable future. This growth is attributed to the increasing focus on the growing significant demand from the construction and infrastructure industry. Rainscreen cladding is an external panel facade system that protects a building's backing wall from weather. This architectural solution is installed in a gap between the cladding and the building's wall. These cladding systems unlock benefits such as energy efficiency, weather protection, and aesthetic appeal, which make them a popular choice for new construction projects. Their thermal efficiency improvement benefit is associated with their ability to minimize heat loss and enhance insulation, which cumulatively aligns construction projects with the demand for energy efficiency and sustainability across the world. The government of Canada announced an investment of C$ 22 billion (US$ 15.35 billion) to develop 15 projects in 2025, which include new hospital construction projects, energy initiatives, and water/wastewater projects. In March 2025, Germany's Parliament, Bundestag, approved the draft bill amending the Basic Law which allows for the establishment of a special fund with additional EUR 500 billion (US$ 539.12) for German infrastructure to achieve climate neutrality by 2045. This initiative is perceived as a significant step toward modernizing public infrastructure in the country. The construction of new hospitals, green buildings, and nergy projects with a high focus on developing sustainable infrastructures fuels the adoption of rainscreen cladding to safeguard these structures from extreme weather conditions, in turn improving energy efficiency and contributing to building longevity. Further, public–private partnerships (PPP) entities in Canada are planning to invest more than C$ 76 billion (53.02 billion) to develop 8 of their top 20 projects by the end of 2025. The PPPs typically involve large-scale infrastructure projects. The burgeoning popularity of PPP projects fuels the demand for durable and energy-efficient rainscreen cladding to improve energy efficiency, weather resistance, and overall building performance. Thus, the growing number of new infrastructure development and construction projects propels the rainscreen cladding market. Rise in Businesses and Consumer Awareness of Sustainable Solutions: Sustainability is becoming a primary factor in the construction and development of residential, commercial, and industrial sectors. With climate change and pollution becoming increasingly significant concerns, both consumers and businesses are prioritizing sustainability in their construction operations. Rainscreen cladding can propel energy efficiency and regulate temperature within buildings by forming a vented air gap between the cladding and the structure. Businesses and consumers across the world are highly emphasizing on adopting green building certifications, such as Leadership in Energy and Environmental Design (LEED) and Building Research Establishment Environmental Assessment Method (BREEAM). LEED and BREEAM are the prominent green building rating systems used in the US and UK, respectively, to promote sustainability in construction operations. Sustainable cladding is critical for acquiring these certifications, making them more appealing to environmentally conscious consumers and businesses having an interest in eco-friendly solutions. In response to the elevated demand for eco-friendly solutions, companies worldwide in the rainscreen cladding market are focusing on marketing their offerings by highlighting their sustainability benefits. For instance, in September 2024, Pura Facades, a part of the Vivalda Group, announced that it is taking initiatives to create awareness related to the benefits provided by rainscreen cladding among architects and builders. These cladding systems are made out of environment-friendly materials such as natural wood, recycled content, or low-impact metals. These materials are also resilient and highly durable, which reduces the need for regular replacements by contributing to the toughness of buildings. Hence, the growing awareness of the benefits of rainscreen cladding among architects, builders, and consumers bolsters the market. Technological Advancements: Technological advancements and ongoing research activities have transformed the rainscreen cladding sector worldwide in recent years. The adoption of advanced technologies such as computer numerical control (CNC), 3D modeling and printing, and new materials is revolutionizing rainscreen cladding market. These cutting-edge technologies and advanced materials allow construction professionals to use rainscreen cladding to improve design, efficiency, and sustainability in modern buildings. In June 2024, Sotech Optima partnered with Vertical Meadow to develop and launch an innovative 'living wall' rainscreen cladding solution that enhances urban environments and promotes sustainable living. In February 2025, Sotech Optima used anodized aluminum profiles (6063T6) to develop brand-new Optima BrickTech rainscreen cladding systems. This revolutionary solution seamlessly combines conventional and natural bricks with the superior performance provided by modern cladding technology. The Optima BrickTech system is engineered for durability and ease of installation. Moreover, it is designed to aid compatibility with a variety of brick types, redefining brickwork in contemporary architecture with a visually appealing facade and superior functionality, providing a superior alternative to traditional brick cladding with a number of benefits that improve building functionality and aesthetics. Geographical Insights: In 2024, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific. Further, Asia Pacific is expected to register the highest CAGR during the forecast period. Get Research Sample on The Latest Rainscreen Cladding Market: Market Segmentation Based on Cladding Material, the market is categorized into ceramic, timber, composite material, metal, others. The metal segment dominated the market in 2024. Based on application, the market is categorized into residential, commercial, industrial. The Residential segment dominated the market in 2024. Based on construction type, the market is categorized into new construction, renovation. The new construction segment dominated the market in 2024. The Rainscreen Cladding Market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America. Competitive Strategy and Development Key Players: A few major companies operating in the Rainscreen Cladding Market are Gradall Industries Inc; GapVax Inc; American Jetter; Spartan Tool LLC; Sewer Equipment; Rivard SAS; Gorlitz Sewer & Drain Inc; Vac Con Inc; Vactor Inc; and Jack Doheny Co Inc. Trending Topics: Drain Cleaning Equipment, Pipe Relining. Global Headlines on Rainscreen Cladding James Hardie Building Products Inc returned to the National Association of Home Builders (NAHB) International Builders' Show (IBS) in Las Vegas from February 25 to February 27, 2025, unveiling an expanded Hardie product portfolio that reinforces the company's purpose of Building a Better Future for All. Sika has opened two state-of-the-art plants in Singapore and Xi'an, Northwest Premium Copy of Global Rainscreen Cladding Market Size and Growth Report (2025-2031) at: Conclusion The market is expected to witness tremendous growth in the coming years owing to the expansion and construction of new buildings, high adoption of advanced technologies such as 3D printing and modeling, favorable government initiatives and funding for infrastructure development projects, and the growing consumer awareness related to the benefits of using rainscreen cladding across different regions. The report from The Insight Partners, therefore, provides several stakeholders—including component providers, system technology integrators, system manufacturers, and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new to Us Directly: Related Reports: About Us: The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials. Contact Us: If you have any queries about this report or if you would like further information, please contact us: Contact Person: Ankit Mathur E-mail: Phone: +1-646-491-9876 Home - in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
