G

Glenveagh Properties PLC
ISEQ:GVR

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Glenveagh Properties PLC
ISEQ:GVR
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Price: 1.96 EUR -0.31% Market Closed
Market Cap: 1B EUR

Glenveagh Properties PLC
Investor Relations

Glenveagh Properties Plc engages in the development and construction of residential houses and apartments for resale. The company is headquartered in Dublin, Dublin and currently employs 336 full-time employees. The company went IPO on 2017-10-10. The firm is engaged in the construction and sale of houses and apartments for the private buyer, local authorities, and the private rental sector. The company is focused on developments in the Greater Dublin Area and Cork. The firm operates through three segments: Suburban, Urban, and Partnerships. The Suburban segment is focused primarily on housing (with some low-rise apartments) with petitions from private buyers and institutions. Its Urban segment is focused on developing apartments to deliver institutional investors. The apartments are located primarily in Dublin and Cork, but also on sites adjacent to significant rail transportation hubs. The Company’s Partnership segment involves the Government, local authorities, or state agencies contributing their land into a development agreement with the Company. Its subsidiaries include Glenveagh Properties (Holdings) Limited, Glenveagh Treasury DAC and Glenveagh Contracting Limited.

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Last Earnings Call
Fiscal Period
Q2 2025
Call Date
Sep 25, 2025
AI Summary
Q2 2025

Revenue Growth: Glenveagh reported group revenue of EUR 342 million for H1 2025, up 124% year-on-year, driven by strong Homebuilding and Partnerships momentum.

Margin Expansion: Gross margin improved to 19.5%, supported by standardization, scale, and innovation initiatives.

Partnerships Profit: Partnerships contributed materially to group profit for the first time, marking a milestone in the business model.

Guidance Reiterated: Full-year EPS target of EUR 0.195 for 2025 was reiterated, with around 1,500 Homebuilding unit deliveries expected this year.

Buyback Increased: The share buyback program was expanded from EUR 85 million to EUR 105 million due to strong performance and cash generation.

Landbank Strength: Landbank supports delivery of 2,600 to 3,600 units per year to 2030, with EUR 100 million of land sales targeted across 2025 and 2026.

Cost Inflation Controlled: Build cost inflation is expected to plateau at 2.5% to 3% over the next year, with innovation and vertical integration helping to mitigate pressures.

Key Financials
Revenue
EUR 342 million
Gross Profit
EUR 67 million
Gross Margin
19.5%
Homebuilding Gross Margin
22.8%
Partnerships Gross Margin
16.2%
Operating Profit
EUR 42.1 million
Net Finance Costs
EUR 9.6 million
Profit Before Tax
EUR 32.5 million
Earnings Per Share
EUR 0.052
Net Assets
EUR 748 million
Work in Progress
EUR 347 million
Land Balance (excluding development rights)
EUR 536 million
Operating Cash Outflow
EUR 10.8 million
Net Debt
EUR 230 million
Share Buyback Program
EUR 105 million
Planned Land Sales
EUR 100 million across 2025 and 2026
Homebuilding Unit Deliveries (2025 expected)
approximately 1,500 units
Homebuilding Forward Order Book
EUR 1.4 billion
Landbank Delivery Capacity
2,600 to 3,600 units per year through 2030
Administration Costs (2025 guidance)
EUR 51 million
Other Earnings Calls
2025
2024

Management

Mr. John F. Mulcahy
Co-Founder & Non-Executive Chairman
No Bio Available
Mr. Stephen Garvey
Co-Founder, CEO & Executive Director
No Bio Available
Mr. Michael Rice
CFO & Executive Director
No Bio Available
Jack Gorman
Head of IR & Corporate Affairs
No Bio Available
Craig Doolan
Sales Administrator
No Bio Available
Sinead Tolan
Head of HR
No Bio Available
Mr. Wesley Rothwell
Chief Commercial Officer
No Bio Available
Mr. Conor Murtagh
Chief Strategy Officer
No Bio Available
Mr. Tony McLoughlin
Managing Director of Planning, Design, Manufacturing & Operations
No Bio Available
Barney O'Reilly
Head of Construction
No Bio Available

Contacts

Address
DUBLIN
DUBLIN
Dublin 2, 15 Merrion Square North
Contacts
+353019037100.0
glenveagh.ie