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7 th May 2015 1 Disclaimer Confidentiality This document, - - PowerPoint PPT Presentation

Kingspan AGM 7 th May 2015 1 Disclaimer Confidentiality This document, together with all information contained herein or disclosed during discussions related hereto (hereinafter called Confidential Information), is extremely sensitive and


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Kingspan AGM 7th May 2015

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Confidentiality This document, together with all information contained herein or disclosed during discussions related hereto (hereinafter called “Confidential Information”), is extremely sensitive and may constitute price sensitive Inside Information within the meaning of Directive 2003/06/EC (the “Market Abuse Directive”). Such Confidential Information may not, without the express prior written consent of Kingspan, be (i) reproduced (in whole or in part), (ii) copied at any time, (iii) disclosed or furnished to any other person except such of your employees and advisors to the extent necessary in the performance of their duties and who are advised of the confidential nature of the information, or (iv) used for any purpose other than your evaluation

  • f the proposed consent. The misuse of price sensitive Inside Information is a criminal offence which could

result in criminal fines and/or imprisonment. By your acceptance of this presentation and such information, you, your agents, representatives, directors and employees agree to comply with the provisions of this paragraph.

Disclaimer

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  • A global leader in high performance insulation and building envelopes
  • Market leading positions in UK, Mainland Europe, North America and

Australasia

  • Proprietary technology drives differentiation in product performance

The Business

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59%

INSULATED PANELS

25%

INSULATION BOARDS

8%

ACCESS FLOORS

8%

ENVIRONMENTAL

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Revenue up 29% to €719m

+18% at constant currency +3% pre-acquisition & at constant currency

Insulated Panels +28% Insulation +40% Access Floors +19% Environmental +9%

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*01-01-15 to 25-04-15

January – April 2015*

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Momentum Since Trough

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CAGR = 14.2%

Revenue €bn

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20 Year Momentum

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CAGR = 17%

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ROCE Since Trough

7 8.4% 8.6% 10.0% 10.7% 12.3% 13.4% 14.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 2009 2010 2011 2012 2013 2014 2015P*

* 2015 forecast includes the Joris Ide acquisition

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Key Themes 2014/2015

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  • Strong organic growth in the UK and US
  • Western Europe activity remains subdued
  • Central and Eastern Europe activity mixed partly owing to Russia impact
  • Middle East and Gulf momentum strong
  • Penetration growth in all regions

Maui Brewing Company, Kihei, Hawaii, USA Insulated Panels

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Joris Ide - The Deal

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  • Joris Ide is a leading mainland European provider of Insulated Panels and related

building systems.

  • The Group’s five primary manufacturing locations are in Belgium, France, Germany,

Romania and Russia

  • In January Kingspan announced the acquisition of the business for €315m
  • 8.75x LTM EBITDA –€36m
  • 12.6x LTM EBITA – €25m
  • Net assets at completion €135m
  • Subject to final net debt adjustment
  • Funded through a combination of debt and 3m shares to Joris Ide personally
  • Completed March 2015

Jorid Ide Head Office Zwevezele, Belgium

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A Complimentary Model

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Geography/Scale

Joris Ide Primary Facilities Kingspan Europe Primary Facilities

Joris Ide manufactures in five primary Insulated Panel facilities, along with eleven additional regional plants. Kingspan's primary presence in UK, Ireland, Netherlands, Germany and North Central Europe Joris Ide's primary presence in Belgium, France, South Germany, South Central Europe and Russia

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Market Hall, Rotterdam Insulation

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Delancey Street, London Solar Thermal

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Emirates Golf Club, Dubai Insulated Panels

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Film Museum, Amsterdam Insulation

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Dr Chau Chak Wing Building, University of Technology, Sydney Insulation

*Credit: “Photography by Coptercam

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