Cairn Homes upgrades guidance, expects output boost as hails demand
Cairn Homes PLC on Wednesday upgraded its revenue guidance for its current financial year, as ‘exceptionally strong demand’ fuelled growth in 2025, and said it will boost output by over a third in the next two years.
The Dublin-based housebuilder recorded €944.6 million in revenue in 2025, up 9.9% from €859.9 million a year prior. Pretax profit grew to €168.6 million, up 13% from €150.0 million in 2024.
Cairn Homes added that efficiencies from scaled tender awards couple with productivity improvements and ‘optimised’ procurements resulted in an operating margin increasing by 40 basis points in a year to 17.8%. It also announced it has completed its 2024 buyback programme after repurchasing the outstanding €1.8 million worth of own shares early last year.
The company proposed a final dividend of 5.9 euro cents per share, up 34% from 4.4c a year ago. This brings the total payout to 10c, a 22% hike from 8.2c.
Cairn Homes now expects revenue in the range between €1.05 billion to €1.08 billion, up from a previous estimate of €1.02 billion to €1.05 billion.
Operating profit is also expected to grow to between €180 million and €185 million in contrast to a previous estimate of €175 million to €180 million. It was €168.6 million, already a 12% yearly growth from 2024’s EUR 150.0 million.
Chief Executive Officer Michael Stanley also announced Cairn Homes will boost output by over a third in two years.
‘Our commitment to growth is stronger than ever and we will accelerate our output to close to 18,000 new homes delivered by the end of 2027. Today we are upgrading our guidance for 2026 and projecting sales of circa 3,200 new homes in 2027, a 35% increase over this two-year period’, he said.
He added: ‘The affordability of new homes remains the most significant challenge in Ireland today, and indeed across Europe. Cairn will continue to be relentless in managing our cost base to ensure our homes are competitively priced...Over the last five years the average selling price of a Cairn home has increased by 5%, compared with the broader market which has seen house price inflation of 29% for new homes in the same period. We will continue to...manage our delivery costs and increase our addressable market.’
Cairn Homes shares were up 3.4% to 202.50 pence each on Wednesday morning in London.
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