Glenveagh Exceeds 2025 EPS Guidance, Lifts Outlook

Glenveagh Beats EPS Forecasts and Initiates New Share Buyback

Glenveagh Properties reported a strong performance for 2025, with earnings per share of approximately 20.0 cent, surpassing its guidance. The Irish homebuilder also announced a new €25 million share buyback program and raised its future output targets, signaling confidence in its operational strategy and market conditions.

Operational and Financial Highlights

The company completed 2,568 units in 2025, an increase from 2,309 in the prior year. This growth was driven by solid results across both its Homebuilding and Partnerships divisions. The Homebuilding segment delivered 1,490 units with a gross margin expansion to 23.7%, while the Partnerships segment saw revenue climb by 60% to €381 million.

Financially, Glenveagh improved its overall group gross margin to approximately 21.4% and successfully reduced its net debt to around €169 million by year-end, down from €230 million at the half-year mark.

Outlook and Shareholder Value

Looking ahead to 2026, Glenveagh has issued guidance for earnings per share of up to 21 cent, with an expected completion of approximately 2,750 units. The company's forward order book has strengthened to €1.1 billion. In addition, the firm is raising its Homebuilding output target for 2027 to 2,000 units.

The new €25 million share buyback, starting January 15, continues the company's commitment to shareholder returns, which have totaled €420 million since 2021.

Summary

Glenveagh's 2025 results demonstrate successful scaling and margin improvement. The positive guidance for 2026 and the increased 2027 targets, supported by a strong order book and a new buyback program, reflect a robust outlook. The company's focus now shifts towards the consistent implementation of supportive housing policies to sustain its growth trajectory.

FAQ

Q: What was Glenveagh's key financial achievement in 2025?
A: Glenveagh's primary financial achievement was delivering an earnings per share of approximately 20.0 cent, which exceeded its guidance and marked an increase from 17.0 cent in 2024.

Q: How is Glenveagh returning value to its shareholders?
A: The company announced a new €25 million share buyback program, which adds to the €420 million already returned to shareholders through buybacks since 2021.

Q: What is the company's outlook for 2026?
A: For 2026, Glenveagh forecasts an EPS of up to 21 cent and expects to complete approximately 2,750 housing units.

Source: Investing.com