Cairn Homes Reports Robust Growth in 2024

Cairn Homes Plc outperformed its targets for the 2024 fiscal year, announcing a 30% increase in housing output. The company surpassed its goal of 2,200 closed units by completing 2,243 units, and achieved a 32% rise in operating profit to approximately €150 million. Revenue increased by 29% to roughly €860 million, while the Return on Equity (ROE) improved to 15.1%.

Key investments included over 4,100 new home commencements, and Cairn's forward order book reached 2,361 homes valued at about €910 million. The company maintained a competitive average selling price of €383,000, while slightly reducing the gross margin. Cairn returned over €115 million to shareholders and announced plans to significantly expand construction investments in 2025.

Looking ahead, Cairn anticipates over 10% revenue growth in 2025, supported by strategies to enhance their First Time Buyer market offerings and plans for ten new private launches in the first half of the year.