20th Jan 2026 11:03
(Alliance News) - Cairn Homes PLC on Tuesday reported higher revenue, profit and returns for 2025 and set out guidance for further growth in 2026, citing strong demand across the Irish housing market.
The Dublin-based homebuilder said revenue for the year ended December 31 rose 9.9% to around EUR945 million from EUR860 million in 2024.
Operating profit increased 12% to about EUR168.5 million from EUR150.0 million, beating the company's upgraded guidance of EUR160.0 million to EUR165.0 million.
Return on equity improved to roughly 17% from 15%, also beating guidance of 16%.
Cairn completed around 2,365 new homes during 2025, up 5.5% from 2,241 a year earlier, reflecting a strong sales environment among first-time buyers. Gross margin edged up to around 22.1% from 21.7%, while operating margin improved to about 18%.
The company said it returned approximately EUR53 million to shareholders through dividends during the year and increased net assets by more than EUR75 million.
Cash generation in the second half helped reduce net debt to around EUR172 million at year-end, from EUR307.4 million at June 30.
Looking ahead, Cairn reaffirmed its guidance for 2026, forecasting revenue of between EUR1.02 billion and EUR1.05 billion, operating profit in the range of EUR175 million to EUR180 million, and return on equity of about 17%.
Chief Executive Officer Michael Stanley said: "It is unlikely that Ireland has ever witnessed the current level of demand for residential homes...Cairn has made substantial investments in our growth opportunity. In 2025, we incurred our largest ever outlay in construction activities and new site commencements.
"Our housing delivery will also increase substantially, particularly for our core First Time Buyer market. As a result, Cairn's total output will now reach 6,000 new homes between 2026 and 2027."
Cairn said its forward order book has increased to more than 3,000 new homes in 2025 with a net sales value of about EUR1.15 billion, up from 2,361 homes valued at around EUR910 million a year earlier.
The company also said it acquired land during the year capable of delivering about 4,500 new homes in the medium term and is developing a wider strategic pipeline of up to 6,000 homes.
The company said it will publish its full-year results on March 4.
Cairn shares were up 0.3% at 182.00 pence in London on Tuesday morning.
By Eva Castanedo, Alliance News reporter
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