Glenveagh Properties PLC
GLV.L
London Stock Exchange2.47
EUR
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Glenveagh Properties PLC
GLV.L
(London Stock Exchange)
Recent
price
2.47
P/E
ratio
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div
yld
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ROIC.AI
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- Business
- Glenveagh Properties PLC is a leading Irish homebuilder that constructs and sells high-quality houses and apartments for private buyers, local authorities, the private rental sector, and state agencies; it operates through Homebuilding and Partnerships segments, with the former focusing on suburban single-family homes and urban apartments, primarily in the Greater Dublin Area, and the latter delivering affordable housing via public-private collaborations. The company offers starter, mid-size, executive, and high-end homes, leveraging modern methods of construction including timber frame, light-gauge steel, insulated concrete formwork, pre-cast concrete, and off-site manufacturing through its NUA brand, which produces frames from facilities in Carlow, Arklow, and Dundalk to support over 2,500 homes annually. Glenveagh Properties maintains a controlled landbank of approximately 20,000 units across Ireland, enabling sustained delivery of 2,600-3,600 equivalent units per year through 2029, and targets customers including first-time buyers, institutional investors, and government entities with a forward order book exceeding €1.1 billion. Founded in 2003 and headquartered in Maynooth, Ireland, the company lists on Euronext Dublin and the London Stock Exchange under ticker GLV. Recent developments include record 2024 revenue of €869 million and 2,415 home completions, with Partnerships revenue surging to €120 million from €17 million in 2023; strategic land acquisitions adding 9,000 units across 14 sites at €31,000 per unit; forward-fund transactions such as 337 units at Cork Docklands with the Land Development Agency in February 2025 and 139 apartments at Barn Oaks with an Approved Housing Body in January 2025; an expanded €65 million share buyback program returning over €380 million to shareholders since 2021; a perpetual license for low-rise integrated external wall systems from 2027; and simplified segmental reporting to Homebuilding and Partnerships commencing H1 2025, alongside sustainability advances like 47% Scope 1 and 2 emissions reduction and CSRD compliance.