A strong performance in its Partnerships division has helped Irish housebuilder Glenveagh deliver record results and strengthen its growth outlook for the year ahead.
The company completed 2,568 homes, up 11.2 per cent year-on-year, with revenue rising 6.5 per cent to €925.8 million for the 2025 financial year.
Growth was supported by a 60.5 per cent increase in Partnerships revenue to €380.9 million, which helped offset a more than 10 per cent decline in Homebuilding to €544.9 million, although it still accounted for the majority of group revenue.
Homebuilding saw strong demand across multiple developments, with several sites and phases selling out during the year and continued progress at Blackrock Villas under the Croí Cónaithe programme, while Partnerships advanced, supported by new projects and a growing pipeline of public-sector housing opportunities.
Operating profit increased nine per cent to €144.1 million, while pre-tax profit rose nearly 10 per cent to €125.1 million.
Net debt reduced to €168 million, while total equity rose to €792.5 million.
Glenveagh said its €1.3 billion forward order book (FY2024: €1.1 billion) provides visibility into future delivery.
The group also highlighted its fully invested 19,000-unit landbank and planning pipeline, supporting delivery through 2030.
Chief executive officer Stephen Garvey said greater use of offsite manufacturing and industrialised construction should be a key focus for the industry to help increase housing supply.
He added that recent government housing policy changes – covering apartment viability, land zoning, infrastructure and planning reform – are creating a more supportive and predictable environment for delivery, which could ultimately enable national output of more than 50,000 homes per year.
It expects around 2,750 completions in 2026, with margins forecast to remain above 21 per cent as it continues to scale its integrated delivery model.
Garvey said: “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.“
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