UNBOUNCE - EXAMPLE PAGE-REPORT-ENTERPRISE DOCUMENT-KINGSPAN - Flipbook - Page 41
Insulation
Sales volumes in the first half of the
year were particularly healthy, easing
back somewhat in the latter half as
the distribution network began to
unwind high inventories accumulated
during the period of rising prices earlier
in the year. In total, volume for the
year was ahead by 11% accounting
to just over 70 million m2 of deliveries
globally. Kooltherm® volume was
modestly ahead for the full year.
Industrial insulation sales, including
applications like pipe, ducting and
district heating/cooling were in the
region of €300m for the full year,
including €150m from the acquisition
of Logstor Group in the second half.
We believe industrial applications are a
real opportunity for significant growth
potential over the longer term.
To support future organic growth we
are either underway with, or planning,
new facilities for Optim-R® in the US,
PIR board in France, industrial pipe
insulation in the Benelux, PIR board
in Saudi Arabia and are carrying out
a viability assessment for a district
heating pipe insulation plant in either
Britain or Ireland. Conversion of waste
heat from manufacturing and data
warehousing processes will increasingly
be captured and re-distributed
through such infrastructure.
We are relentless in our commitment
to offer an unparalleled spectrum of
insulation solutions. In addition to
the technologies referred to in the
innovation section, early feasibility
work has begun on entering the
production of stone wool to support
our existing and future requirement
of that material.
1 Comprising underlying +26%,
currency +1% and acquisitions +23%.
Like-for-like volume +11%.
TURNOVER
€1,182.9m
+50%(1)
2020: €787.0m
TRADING PROFIT
€146.7m
+33%
2020: €110.1m
TRADING MARGIN
12.4%
-160bps
2020: 14.0%
Kingspan Group plc Annual Report & Financial Statements 2021
East Village Plot N06
London, Britain
Insulation
Pipe Insulation
Chief Executive’s Review
