Cairn Homes Plc: 2025 AGM Trading Update

DJ Cairn Homes Plc: 2025 AGM Trading Update

Cairn Homes Plc (CRN) 
Cairn Homes Plc: 2025 AGM Trading Update 
08-May-2025 / 07:00 GMT/BST 
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2025 AGM Trading Update 
 
Dublin / London, 8 May 2025: Cairn Homes plc ('Cairn', 'the Company' or 'the Group') (Euronext Dublin: C5H / LSE: CRN) 
is holding our Annual General Meeting ('AGM') today at 12.00 noon at The Merrion Hotel, Merrion Street Upper, Dublin 2 
and in advance provides the following update on current trading for FY25. 
 
Current Trading 
 
   -- Reflecting a very positive trading environment, 2025 to date has seen continued scaling of our operating 
  platform and increased investment in our growing number of active sites throughout Ireland. 
   -- Ireland's newly formed Government has been very clear in its ambition to almost double housing output. 
  Initiatives, policies and supportive capital for both housing and infrastructure are available to assist these 
  growth objectives. Cairn's established market leading position will allow us to respond to this challenge. 
   -- As evidenced by this positive backdrop, our closed and forward sales pipeline now stands at c.3,250 new 
  homes with a net sales value of c.EUR1.25 billion (26 February 2025: 2,593 closed and forward sales with a net sales 
  value of EUR989 million). 
   -- A focus on our core first time buyer market will result in increased H1 WIP investment and a higher 
  proportion of our FY25 revenue in H2. We are progressing a number of new forward sale and forward fund1 
   transactions with our State partners. This demand across our multiple tenures will result in our closed and 
  forward sales pipeline continuing to grow throughout the year. 
   -- Build cost inflation is currently running below our FY25 expected level of c.2%. While we are mindful of 
  the potential impact of changes in global trade policies, we are not witnessing any adverse effect on our business 
  at present. 
   -- Recently recognised by our peers at the Irish Construction Excellence Awards 2025, winning across a 
  number of categories including 'Project of the Year' for Seven Mills and 'Innovation in Construction' for our lead 
  role in building new homes to Passive House standards in Ireland. 
 
Outlook 
 
The Company is confident in our FY25 guidance: 
 
   -- Revenue growth in excess of 10%; 
   -- Operating profit of c.EUR160 million; and 
   -- ROE2 of c.15.5%. 
 
Supported by the strength of our market position, scaled operating platform and multi-year order book, the medium-term 
outlook for the Company is positive. 
 
Cairn will release a H1 2025 trading update in July 2025 in advance of 2025 interim results on 3 September 2025. 
 
Commenting on the trading update, Michael Stanley, CEO, said: 
 
"We've experienced sustained, positive momentum since the start of the year, as evidenced by the growth in our order 
book to over 3,000 new homes. This is our 10th year in business and my colleagues and I are genuinely proud that over 
30,000 people now live in a Cairn built home. As we embark on our second decade, our commitment to scale our delivery 
of high quality, energy efficient homes, in line with our core values, is stronger than ever." 
 
For further information, contact: 
 
Cairn Homes plc             [phone] 
Michael Stanley, Chief Executive Officer 
Richard Ball, Chief Financial Officer 
Ailbhe Molloy, Investor Relations Manager 
 
Drury Communications            [phone] 
Billy Murphy 
Claire Rowley 
Gavin McLoughlin 
 
Notes to Editors 
Cairn is an Irish homebuilder committed to building high-quality, competitively priced, sustainable new homes and 
communities in great locations. At Cairn, the homeowner is at the very centre of the design process. We strive to 
provide unparalleled customer service throughout each stage of the home-buying journey. A new Cairn home is expertly 
designed, with a focus on creating shared spaces and environments where communities thrive. Cairn owns a c.16,150 unit 
landbank across 38 residential development sites, over 90% of which are located in the Greater Dublin Area (GDA) with 
excellent public transport and infrastructure links. 
 
 
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1 Forward fund transactions involve Cairn delivering new homes under a contractual relationship where the land is sold 
up-front and the cost of delivering the new homes is paid on a phased basis. 
2 ROE (Return on Equity) is defined as Profit after Tax divided by Total Equity at year end. 
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Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
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ISIN:      IE00BWY4ZF18 
Category Code: TST 
TIDM:      CRN 
LEI Code:    635400DPX6WP2KKDOA83 
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State 
Sequence No.:  386901 
EQS News ID:  2132606 
 
End of Announcement EQS News Service 
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May 08, 2025 02:01 ET (06:01 GMT)