UNBOUNCE - EXAMPLE PAGE-REPORT-ENTERPRISE DOCUMENT-KINGSPAN - Flipbook - Page 111
Innovation
At Kingspan, innovation is a core pillar
of our strategy and we view it as a
key strategic advantage. We believe
building industry traditions must
be challenged through innovation
in advanced materials and digital
technologies in order to achieve a net
zero emissions future.
We have innovated a portfolio of
advanced products and solutions for
architects and building owners which
enable them to construct buildings
that consume less resources. Future
proofing their investment, generating
returns through enhanced internal
space and operational performance,
and facilitating efficient construction
through thinner, lighter and safer to
handle materials. Increasingly we are
enhancing our service and solutions
through digitisation. By surfacing our
products digitally, we’re making it
easier to find them, specify them, buy
them, build with them and track them.
In the year ended 31 December
2021, the Group’s research and
development expenditure amounted
to €40.9m (2020: €33.1m). Research
and development expenditure is
generally expensed in the year in
which it is incurred. Kingspan’s
continuing investment in research and
development involves a number of key
projects which include:
g PV solar-integrated PowerPanel™
Wall;
g Fibre-free A1 classified AlphaCore®
insulation;
g QuadCore™ 2.0;
g Kooltherm® 200 series;
g Decarbonisation of materials;
g Digitalisation of the construction
industry; and
g Translucent insulated solutions.
Corporate Governance
The directors are committed to
achieving the highest standards of
corporate governance. A statement
describing how Kingspan has applied
the principles of good governance set
out in the UK Corporate Governance
Code (July 2018) and the Irish
Corporate Governance Annex is
included in the Report of
the Nominations & Governance
Committee contained in this Annual
Report. The Corporate Governance
Statement is treated as forming part
of this Annual Report.
Code Of Conduct
In October 2020 Kingspan implemented
a new Code of Conduct, applicable to
all directors, officers and employees,
that sets out our aspiration to maintain
a culture where our everyday actions
are built on five core principles:
g Clear, ethical and honest business
communications;
g Compliance with the law;
g Respect for the safety and
wellbeing of colleagues;
g Protection of our Group assets;
g Upholding our commitment to
a more sustainable future.
https://www.kingspan.com/group/
commitments/people-and-community/
our-code-of-conduct
Kingspan’s commitment to the
respect for Human Rights is contained
in its Supply Chain Policy, while the
Sustainability section of this Annual
Report details Kingspan’s approach to
social, employee and diversity matters.
Accounting Records
The directors are responsible for
ensuring that accounting records,
as outlined in Sections 281 to 285
of the Companies Act 2014, are
kept by the Group. The directors
have provided appropriate systems
and resources, including the
appointment of suitably qualified
accounting personnel, to maintain
adequate accounting records
throughout the Group, in order to
ensure that the requirements of
Sections 281 to 285 are complied
with. The accounting records of the
Company are maintained at the
principal executive offices located at
Dublin Road, Kingscourt, Co. Cavan,
A82 XY31, Ireland.
The European Communities
(Takeover Bids (Directive 2004/25/
EC)) Regulations 2006
Structure of the Company’s share
capital
At 31 December 2021, the Company
had an authorised share capital
comprised of 250,000,000 (2020:
250,000,000) ordinary shares of
€0.13 each and the Company’s
total issued share capital comprised
183,591,682 (2020: 183,402,238)
ordinary shares.
The number of shares held as
treasury shares at the beginning of
the year was 1,870,284 (1.03% of the
Sustainability
then issued share capital (excluding
Our mission is to accelerate a net zero
treasury shares)) with a nominal
emissions future built environment with
value of €243,136. During the year,
the wellbeing of people and planet at
the Company repurchased 600,000
its heart. We do this through enabling
shares as part of the Company’s
high-performance buildings that
capital management strategy
can save more energy, carbon and
(0.33% of the issued share capital
water. Aligned with our mission, we
(excluding treasury shares)) with a
aim to make significant advances in
nominal value of €78,000 which are
the sustainability of both our business
operations and our products. In 2020 we held in treasury. A total of 216,144
achieved our Net Zero goal by matching shares (0.12% of the issued share
capital (excluding treasury shares))
100% of our operational energy with
with a nominal value of €28,099 were
renewable energy (on an aggregate
re-issued during the year consequent
basis across the Group). In December
to the exercise of share options under
2019 we launched the next phase of
the Kingspan Group Performance
our sustainable development, our new
Share Plan and the Kingspan Group
10 year Planet Passionate Programme,
Employee Benefit Trust, leaving a
setting ourselves challenging targets in
balance held as treasury shares as
the areas of carbon, energy, circularity
at 31 December 2021 of 2,254,140
and water. Learn more at www.
kingspan.com under ‘Our Commitments’ (1.24% of the issued share capital
(excluding treasury shares)) with a
and in our upcoming 2021 Planet
nominal value of €293,037.
Passionate Sustainability Report.
Kingspan Group plc Annual Report & Financial Statements 2021
Report of the Directors
