Kingspan Group's (KGSPF) CEO Gene Murtagh on Q4 2016 Results - Earnings Call Transcript

Feb. 17, 2017 12:04 PM ETKingspan Group plc (KGSPF)
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Call Start: 05:30 January 1, 0000 6:22 AM ET

Kingspan Group plc. (OTCPK:KGSPF)

Q4 2016 Earnings Conference Call

February 17, 2017, 05:30 ET


Gene Murtagh - CEO

Geoff Doherty - CFO


Robert Eason - Goodbody Stockbrokers

Yves Bromehead - Exane BNP Paribas

Gregor Kuglitsch - UBS

Andy Murphy - Bank of America Merrill Lynch

Florence O'Donoghue - Davy

Lush Mahendrarajah - Berenberg

Gerard Moore - Investec


Welcome to today's Kingspan Full Year Results 2016 Call. Throughout this all participants will be in listen only mode. And afterwards there will be a question and answer session. And just to remind you this call is being recorded. And today I'm very pleased to pass you over to Gene Murtagh, CEO and Geoff Doherty, CFO. Gentlemen, please begin.

Gene Murtagh

Thank you and good morning everybody, welcome to the call for our full year results of 2016. We'll get straight into it on page 9 of the presentation titled 2016 in Summary. Glad to be reporting really an exceptionally strong performance for the business in 2016. Our revenue up 12% to €3.1 billion and trading profit up 33% just under €341 million. And that of course despite very significant currency headwinds that we had in the year, particularly sterling -- sterling/euro related.

In essence the UK, despite June 23 vote et cetera, was particularly strong for us and that carried through also into the second half of the year. And if anything actually accelerated in the second half of the year. Western Europe has seen a significant recovery, particularly in the Netherlands and more latterly in France. Which really is a kind of a stand out market for us at the moment. And we'll come to that later on.

And then in the U.S. as reported previously, it was a little bit

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