Kingspan said sales rose 8 per cent in the first nine months of the year to €6.8 billion as its advanced building systems unit Advnsys benefited from an “ever-increasing wave” of inquiries amid a boom in data centre development.
In a trading update on Monday morning, the Dublin-listed group said it continues to explore a partial flotation of 25 per cent of Advnsys on the Euronext Amsterdam in the first quarter of 2026.
Kingspan, which maintained its guidance for full-year profits at €950 million, announced the plan in September as it looks to capitalise on the artificial intelligence-related data centre boom.
Sales at Advnsys, which delivers bespoke critical infrastructure primarily focused on data centres, ventilation, and daylighting, rose 10 per cent in the first nine months of the year, Kingspan said, and 6 per cent in the third quarter alone compared with the same period last year.
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“We are experiencing an ever-increasing wave of inbound inquiries and continue to roll out capacity as rapidly as possible to meet demand,” it said.
The unit also completed the acquisition of Polish company Mercor’s ventilation and daylighting business in October, “extending” its presence in Europe, Kingspan added.
Investors have cheered the plan to float 25 per cent of Advnsys, which initially lifted the Cavan-headquartered group’s shares as much as 13.5 per cent in late September.
However, Kingspan’s share price, which advanced by more than 7 per cent in early trading on Monday following the update, is down more than 13 per cent over the past year.
Overall, sales rose 8 per cent over the first nine months of the year to €6.8 billion and 6 per cent in the third quarter.
Kingspan said this was primarily driven by acquisitions.
Insulation sales rose 6 per cent in the third quarter compared with the same period last year, with activity in the Americas “slightly behind” last year, which was particularly strong.
“A key contributor to sales growth during the period was the positive impact of acquisitions, notably Nordic Waterproofing, consolidated from October 2024,” it said.
Looking ahead, Kingspan said that while there are obvious challenges in its end markets, backlog is ahead year on year.
“There is still some way to go in the current year, with much of the seasonally important fourth quarter remaining,” the group added.
“We continue to expect to deliver a full year trading profit in the region of €950 million for the current year. Assuming our end-markets remain relatively stable, initiatives both executed and currently under way ought to support stronger overall trading profit growth in 2026.”
