Preliminary Results 2021

Preliminary Results 2021

Preliminary Results 2021

Cairn are proud to present our Preliminary Results for the Year Ended 31 December 2021.

The Company is a leading Irish homebuilder committed to building homes and creating places where people love to live. Leveraging our scalable operating platform, established supply chain partnerships and a historic low-cost c. 17,700 unit landbank, Cairn will continue to play a leading role in providing greater access to new homes in Ireland across all tenures and price points through increasing our annual volumes into the medium to long-term.

Cairn’s historic approach to capital allocation, through a timely and well executed acquisition strategy in 2015 and 2016, a period representing a low point in land values in the last few decades, together with the successful scaling of our business has resulted in 5,500 customers choosing a new Cairn home to date. These new homes are delivered on our 37 site landbank which comprises suburban and commuter belt low-density housing sites (c. 13,000 units at an average historic site cost of c. €29,000 per unit) and city centre, suburban and commuter belt high-density apartment sites (c. 4,700 units at an average historic site cost of c. €53,000 per unit).

Michael Stanley, CEO of Cairn Homes, commented:

“Cairn has a team of very talented people who design and build great homes in sought after locations for every segment of the market. We have long established partnerships with large, quality subcontractors and a mature integrated supply chain. We have brought multiple new developments through a difficult planning system and we are poised to significantly increase our output over the coming years.

We sold our 5,000th home during 2021 in our seventh year in business and we expect to build at least the same number again in the coming three years. Our financial performance enables us to reinvest strongly in our business to drive this significant growth in delivery and to underpin our contribution to addressing the housing needs of our society.”

Read full preliminary results here


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