Glenveagh hails a strong 2025 as profits and completions rise

Glenveagh Properties reported pre-tax profits of €125m (£108m), up from the €114m (£98.5m) in 2024, while total housing completions stood at 2,568, up from 2,309 in 2024.

Revenue hit a record high for the housebuilder of €926m (£799.9m), up 7% from €869m (£750.6m) in the previous year. This included €545m (£470.8m) from homebuilding, down 14% from 2024’s €632m (£545.9m), and another €381m (£329.1m) from partnerships, up 61% from €237m (£204.7m).

The group ended the year with a forward order book of 1,252 units, up from 2024’s 886, with the value standing at €1.3bn (£1.12bn), up from €1.1bn (£950m). Its net debt stood at €168m (£145.1m), down from €179m (£154.6m) in 2024.

Glenveagh’s earnings per share increased 18% year on year, from 17 cents per share (14.68p) to 20 cents per share (17.28p).

The company has outlined its ambitions for further investment into its timber-frame and light-gauge steel manufacturing model throughout 2026 and 2027.

Chief executive Stephen Garvey said the group’s output enabled “the delivery of affordable, conveniently located homes” across the country.

“Our market-leading landbank, planning expertise and improved manufacturing capability contributed to greater margin resilience and capital efficiency,” he added. “Furthermore, disciplined cost control and capital allocation position Glenveagh for sustained performance in 2026 and beyond.

“Throughout the year, we advanced our manufacturing and innovation capabilities, a core part of our integrated delivery system. By expanding industrialised construction through precision manufacturing, advanced digital design and high-performance materials, we delivered homes with greater predictability, affordability, and enhanced energy and environmental performance.

“Against that backdrop, with the land, capability and capacity in place, we are confident that Glenveagh can continue to contribute significantly to delivering the homes that Ireland needs.”