Kingspan Group (KRX) Trading Update summary

Sales performance and regional trends

• Sales for the nine months to September 2025 reached €6.8bn, up 8% year-on-year, with acquisitions driving growth.

• Insulated Building Envelopes sales rose 7% in the period, with regional variations: Latin America and the Middle East performed strongly, while the US was softer.

• The UK saw increased activity in Q3, and France, Germany, and Central & Eastern Europe remained solid.

• The Insulated Building Envelopes backlog was 5% higher at the end of September compared to the previous year.

ADVNSYS segment and expansion

• ADVNSYS sales grew 10% in the first nine months, with strong data-related demand offsetting weaker non-data activity.

• Order intake for ADVNSYS was robust, with backlog up 23% year-on-year, supporting a strong Q4 outlook.

• New production facilities opened in Virginia and Arkansas, with a mega-site planned in Kentucky for 2026.

• Acquisition of Mercor's ventilation and daylighting business in October 2025 expanded European presence.

• A partial IPO of 25% of ADVNSYS on Euronext Amsterdam is being explored for Q1 2026.

Financial position and capital allocation

• Net debt at September 2025 was €1.9bn, with year-end net debt expected around €1.85bn (1.5x–1.6x net debt/EBITDA).

• €93m was deployed in share buybacks in Q3, acquiring 1.35m shares as part of a €650m two-year programme.