Construction BUSINESS

CRH plc, the global building materials group, has reported sales of €26.8 billion for 2018 – 6% ahead of 2017 – with EBITDA up 7% to €3.37 billion. Group like-for-like sales were ahead 3% in 2018 with 2% growth in Europe, 4% in the Americas and 8% in Asia. Like-for-like group EBITDA rose by 3%, with both Europe and the Americas up 3% but Asia was down 44%. The EBITDA margin at 12.6% improved slightly of the 2017 figure of 12.5%.

Albert Manifold, Chief Executive of CRH.

Albert Manifold, Chief Executive of CRH, said: “2018 was another year of record profit delivery for CRH. We benefited from good demand and continued favourable market fundamentals in the Americas coupled with positive underlying momentum in Europe. Both were experienced against a backdrop of energy-related input cost inflation and significant weather disruption throughout the year but with a continued focus on performance improvement and operational delivery, margins were ahead of last year.”

He continued: “Supported by strong cash generation, we continued to deliver value through efficient capital management, completing €3.6 billion of acquisitions and €3.0 billion of disposals, while returning €0.8 billion to shareholders in the year through our share buyback programme. CRH remains well positioned to build upon the gains made in 2018. With a relentless focus on continuous business improvement, margin expansion, cash generation and returns for shareholders, together with continued strong financial discipline and efficient allocation of capital, we believe 2019 will be a year of progress and further growth for the Group.”