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Tue January 18 2022

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CRH earnings jump 27%

19 Aug 14 Building materials group CRH has reported a 27% rise in earnings before interest, taxes, depreciation, and amortisation (EBITDA).

Its results for the first half of the year show that EBITDA rose to €505m (£392m) from €397m.

Like-for-like sales were up 5%, with sales revenue increasing by 7% in Europe and 1% in the Americas.

Incremental cost savings of €45m have been achieved to date in 2014, with the full-year target of €100m on track. There is also a continued focus on cash flow, with lower seasonal working capital and capital expenditure outflows.

CRH’s portfolio review is progressing, with a multi-year divestment programme of about €1.5bn to €2bn under way. In the first half, it also made acquisitions and investments of €130m.

The net debt was €3.7bn in June, €0.5bn than in June 2013.

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