Cairn Homes (CRN) Q4 2025 TU earnings summary

Executive summary

• Achieved strong 2025 results, meeting revenue guidance of approximately €945 million and surpassing operating profit and ROE targets.

• Significant investments made in construction, land acquisition, and workforce expansion to support future growth.

• Exceptional demand for residential homes driven by a decade of undersupply and population growth.

Financial highlights

• Revenue reached approximately €945 million, up from €860 million year-over-year.

• Operating profit rose to about €168.5 million from €150 million, with ROE at 16.6% versus 15.1% last year.

• Gross margin improved to 22.1% and operating margin to 17.8% year-over-year.

• Net assets increased by over €75 million; €53 million returned to shareholders via dividends.

• Net debt reduced to €172 million at year-end from €307.4 million at mid-year.

Outlook and guidance

• FY26 guidance reaffirmed: revenue of €1.02–€1.05 billion, operating profit of €175–€180 million, and ROE of 16.5%.

• Continued volume and profit growth expected, supported by strong demand and favorable government policies.

• Output projected to reach 6,000 new homes between 2026 and 2027.