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Glenveagh Properties PLC on Thursday launched a €25 million share buyback programme and said its earnings came ahead of guidance for 2025. In a full year trading statement, the Kildare, Ireland-based housebuilder said pretax profit climbed 11% to €125 million in 2025 from €113 million in the previous year. Revenue increased 6.6% to €926 million from €869 million, as Homebuilding revenue fell 14% to €545 million from €631 million, more than offset by a 60% jump in Partnerships revenue to €381 million from €238 million. Earnings per share increased 18% to 20.0 cents from 17.0 cents in 2024, ahead of guidance, due to ‘solid delivery execution, disciplined cost control and a consistent approach to capital allocation,’ Glenveagh Properties said. During the year, completions increased 11% to 2,568 units from 2,309 the year before. Homebuilding delivered 1,490 units, down 9.7% from 1,650 in 2024, while the Partnerships arm benefited from being an ‘established partner of choice’ for the Irish state. The firm said its forward order book was up 15% at €1.1 billion, compared to €950 million in 2024. Glenveagh Properties said it started a new €25 million programme on Thursday after it successfully completed a €105 million share buyback programme. It entered arrangements with Jefferies International Ltd to conduct the programme, which is expected to run to May 15. Looking ahead, Glenveagh Properties said it is guiding for EPS of up to 21 cents in 2026, driven by growth in completions, the ‘ongoing contribution’ from Partnerships and ‘disciplined’ cost control. The firm expects 2,750 total completions in 2026, comprising over 1,600 Homebuilding units along with further growth in the Partnerships business. Glenveagh Properties said it expects a gross profit contribution of at least €60 million from the Partnerships arm. Looking further ahead, the company said it now expects Homebuilding output to rise to around 2,000 units by 2027, up from 1,900 in previous guidance. ‘In 2025, Glenveagh delivered on its commitments: scaling delivery and strengthening our Partnerships platform through our standardised, vertically integrated model. Our landbank, manufacturing capability and customer-first approach continue to differentiate us in a market that urgently needs scale, certainty and delivery,’ said Chief Executive Officer Stephen Garvey. Glenveagh Properties said the Irish government has demonstrated a ‘clear commitment’ to creating a supportive policy environment for increasing housing supply. It said the government’s priorities should now shift to ‘consistent and timely implementation’ now the policy framework is in place. ‘Clear, coordinated execution (particularly in relation to zoning, servicing and infrastructure delivery) will be critical to removing remaining structural barriers and enabling housing supply at scale,’ said CEO Garvey. ‘Ireland is at a pivotal moment in addressing its housing needs and supporting long-term economic competitiveness. Glenveagh has the land, capability and capital to deliver high-quality homes at scale, and we are ready to play a leading role.’ Shares in Glenveagh Properties were up 2.6% at €1.99 at midday on Thursday in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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