The Kingspan PLC Board has proposed a final dividend of 20.6 cent per ordinary share payable on 7 May 2021 to shareholders registered on the record date of 26 March 2021. No interim dividend (2019: 13.0 cent) was declared during the year given the uncertain backdrop for much of 2020. The final dividend proposed for 2019 of 33.5 cent was subsequently cancelled in order to preserve cash at the outset of the pandemic. In summary, therefore, the total dividend for 2020 is 20.6 cent compared to 13.0 cent for 2019 (as adjusted for the cancellation).
Other financial highlights include:
•Revenue down 2% to €4.6bn, (pre-currency, in line with prior year).
•Trading profit up 2% to €508.2m, (pre-currency, up 5%) after accounting for repayment of government COVID supports worldwide.
•Acquisitions contributed 7% to sales growth and 6% to trading profit growth in the year.
•Free cashflow up 42% to €479.7m.
•Group trading margin of 11.1%, an increase of 40bps.
•Basic EPS up 1% to 206.2 cent.
•Year-end net debt of €236.2m (2019: €633.2m). Net debt1 to EBITDA of 0.4x (2019: 1.1x).
•ROCE of 18.4% (2019: 17.3%).