CRH reports productive 2018
04 March 2019
Irish building materials group CRH has reported strong 2018 growth led by good performance in Europe and the Americas.
The group saw its EBITDA (earnings before interest, taxes, depreciation and amortization) rise by 7% to a record figure of €3.37 billion.
Revenue was also up by 6% to €26.79 billion from €25.22 billion a year previously.
European sales increased by 2% like-for-like, with the combined Americas’ sales up 4% and Asia’s up 8%.
Concerning the company’s future, it said the feeling in Europe was positive, despite fears over the consequences of the UK leaving the European Union.
CRH said that it expected the US economy to grow in 2019 and that business in Asia would continue doing well.
CEO Albert Manifold said, “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.”
Manifold went on to say that with a relentless focus on continuous business improvement in margin expansion and cash regeneration, combined with strong financial discipline and efficient absorption of capital, the coming year would be one of progress and further growth for the group.
