Annual Report & Accounts 2021

Making life better.

At a glance

Financials

€476.8mRevenue

Revenue

€46.4mOperating profit¹

Operating profit¹

€562.7mLand utilisation

Land utilisation

Non-financials

16,800No. of sites in landbank

No. of sites in landbank

1,150No. of units sold

No. of units sold

1,921Units contracted/reserved²

Core units contracted/reserved²

Operational and sustainability

Customer satisfaction

H&S audits

A-CDP
AAMSCI
Low RiskSustainalytics
72%Employment engagement
  1. Operating profit has been presented before exceptional items and impairment reversals / charges
  2. As at the Annual Report approval date
1/3

CEO’s statement

When fully scaled we will deliver 10% of the country’s housing need every year.

Stephen Garvey

CEO’s statement

When fully scaled we will deliver 10% of the country’s housing need every year.

Stephen Garvey

CEO’s statement

When fully scaled we will deliver 10% of the country’s housing need every year.

Stephen Garvey

Vision, mission and culture

Our vision

Our vision is that everyone should have the opportunity to access great-value, high-quality homes in flourishing communities across Ireland.

Our mission

Our mission is to innovate how new homes are planned, designed, built and marketed in Ireland, and to make the journey for customers transparent, easy and joyful.

Our culture

At Glenveagh, we foster a culture of fresh thinking, teamwork and trust to challenge the status quo in our industry. We believe that building homes and communities is a worthy cause and will positively impact Irish society. We want to forge a new path, relentlessly innovating every stage of the homebuilding process.

Safety first

The health and wellbeing of everyone who we engage and work with is the most important thing to us. This is why we are committed to maintaining the health and safety of all those who work with us and who are impacted by what we do. We do this by integrating health and safety into all our decision making.

Collaborative

Building homes at scale requires the close collaboration of many different people with specialist skills and distinct perspectives. We respect and trust each other while acting responsibly and with integrity, believing that how we get things done is just as important as our achievements.

Innovative

We constantly seek to innovate to satisfy customer needs, drive sustainability and deliver value for money. We find new ways of solving current and future challenges to create flourishing communities across Ireland.

Customer-centred

We build for the people who call our developments ‘home’. To do this well, we take the time to understand them, their lives and their ever-changing needs. By putting our customers at the centre of everything we do we create homes and communities that have lasting value.

Passionate

Delivering high-quality homes at scale isn’t easy. We know that teamwork, dedication, inclusion, grit and positivity are vital to achieving our goals and that our attitude has the power to positively impact each other, our investors, our partners and our customers.

Our KPIs

Revenue€476.8m
105%
2020: €232.3m
Adjusted EBITDA margin10.2%
610 bps
2020: 4.1%
Health & safety89%Audit score
100 bps
2020: 88%
Customer satisfaction89%Survey score
600 bps
2020: 83%