Construction BUSINESS

Continued Profit Growth at CRH

 Breaking News
  • 45 Jobs Saved at Manley Construction Following Exit From Examinership Manley Construction has exited examinership after 100 days following a High Court hearing in front of Justice Marie Baker. Following the hearing, the company can continue to trade normally, saving 45 construction and administrative jobs at its Duleek, County Meath headquarters. Manley Construction has a strong portfolio of ongoing projects and this decision ensures the smooth continuation [...]...
  • Irish Construction Companies Raise Over €3.5 Million Through Linked Finance Linked Finance, Ireland’s leading peer-to-peer (P2P) lending company has raised over €3.5m for Irish construction businesses. 34 Irish construction firms including Farranconnor Building Products in Cork and Cairn Construction in Wicklow have raised funds through Linked Finance’s online lending platform ( Cairn Construction raised €30,000 through the platform to invest in machinery to facilitate business [...]...
  • Ecocem Ireland Launches First Hybrid Weather-resistant Bag Ireland’s premier producer of high performance, low carbon cement Ecocem Ireland has announced a new product development for the bagged cement market in Ireland and the UK. The upgraded offering sees the traditional paper bag being replaced by a stronger, more durable weather-resistant hybrid bag. The company made the announcement at its state-of-the-art facility in Dublin Port. [...]...
  • Expert Speakers Confirmed For Ireland’s Biggest Annual Project Management Conference The Ireland Chapter of Project Management Institute (PMI) has announced the expert speakers for Ireland’s premier conference on project management. With the theme The Change Makers, the Chapter’s annual conference takes place in the Aviva Stadium on 26 April 2018 and will see some of Ireland’s most respected industry leaders discuss managing, driving and achieving change. Notable speakers include Dr Norah [...]...
  • Dún Laoghaire-Rathdown County Council Provides Over €742 Million For Future Development Dún Laoghaire-Rathdown County Council has agreed a Capital Expenditure Programme of over €742 million. The Three Year Capital Programme 2018-2020 will deliver a considerable number of infrastructural and housing projects that are of strategic importance to the County and the Region from both a social and an economic perspective. This will shape the development of [...]...

Continued Profit Growth at CRH

Continued Profit Growth at CRH
March 05
09:13 2018

Global building materials group CRH has reported another year of profit growth with margins and returns ahead in all its American and European Divisions. Sales at €27.6 billion were 2% ahead of 2016 and like-for-like sales were also up 2%. EBITDA rose by 6% to €3.3 billion and by 3% on a like-for-like basis. Group EBITDA margin at 12.0% was up from 11.5% in 2016.

Albert Manifold, Chief Executive, said: “2017 was a year of continued profit growth for CRH. We benefited from increases in underlying demand in the Americas and positive momentum in Europe, and with focus on performance improvement and operational delivery, margins and returns were ahead of last year in our American and European Divisions. Supported by strong operational cash generation, we continued to deliver value through efficient capital management. With a balanced portfolio of businesses CRH is well positioned to capitalise on ongoing economic recovery and our focus remains on consolidating and building upon the gains made in 2017. Against this backdrop, we believe that 2018 will be a year of continued growth for the group.”

In Europe, total sales were up 1% compared with 2016 and organic sales were 2% ahead due to continued recovery in key markets. Europe Heavyside’s outturn was positive, with a broad-based recovery in Ireland, France, Poland and Finland more than offsetting more subdued activity in Switzerland and the United Kingdom (UK). Europe Lightside experienced a year of further progress as good performances in a number of our main markets resulted in sales finishing 3% ahead of 2016. The backdrop at Europe Distribution was stable as a strong contribution from the Netherlands together with solid demand in Belgium and Germany was partly offset by continued challenges in Switzerland. In Asia, economic growth and market fundamentals remained robust in the Philippines, with both residential and non-residential demand stable, though infrastructure investment was slower than expected and pricing remained very competitive. In India, a favourable economic backdrop continued to drive demand, while reduced construction activity in China had a negative impact on volumes but this was more than offset by stronger pricing. For 2017 as a whole, higher sales and good cost control supported improved profits and margins across the Group with EBITDA ahead 6%.

In 2017, CRH spent a total of €1.9 billion (including deferred and contingent consideration in respect of prior year acquisitions) on 34 acquisition/investment transactions compared to 24 in 2016. On the divestment front, the group realised business and asset disposal proceeds of €0.2 billion (€0.3 billion in 2016).

CRH is the second largest building materials company in the world. It is the largest building materials company in North America, a regional leader in Europe and has a growing presence in the Asian economies of India, China and the Philippines. CRH employs over 87,000 people across 3,800 locations in 31 countries worldwide.

About Author



Related Articles

Constrcution Summit

PROMO – Construction Summit 2016 – Sustaining the Momentum

Lean Construction Ireland – Enhancing Ireland’s Competitive Advantage

The Magazine – Construction Business

The Magazine – Construction Summit

Upcoming Events

  • March 18, 2018Light + Building 2018
  • March 20, 2018Interbuildexpo 2018
  • March 21, 2018Neues BauEn
  • March 21, 2018BudEXPO
AEC v1.0.4

New Subscriber

Subscribe Here