Glenveagh Properties PLC
ISEQ:GVR
Glenveagh Properties PLC
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.
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.
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.
