First publishedon www.AggBusiness.com
CRH subsidiary Republic Cement's Teresa plant in Rizal, the Philippines
Irish building materials giant CRH has posted a strong set of trading figures for the first nine months of 2019.
The group’s EBITDA (earnings before interest, taxes, depreciation and amortisation) was up 27% to €3.2bn (+7% on a like-for-like basis) – compared to €2.5bn in 2018. Sales revenue was up 9% (+4% on a like-for-like basis) to €21.8bn – compared to €19.9bn for the first three-quarters of last year.
Total aggregates volumes for the nine months, including the impact of acquisitions and divestments, were 6% ahead of 2018. Average year-to-date aggregates prices increased by 5%, with increases recorded in all group trading regions. Nine-month asphalt sales volumes were in line with 2018 on a total and like-for-like basis; ready-mixed concrete sale were 12% up on 2018; and paving and construction services business increased by 3%. Finally, nine-month sales of cement in the U.S. were “well ahead” of 2018 due to CRH’s acquisition of Ash Grove, which completed at the end of June 2018. Group cement sales in Canada were 3% ahead of 2018.
A CRH statement accompanying the first nine-month trading figures said that the group-wide profit improvement programme is advancing well, with further value creation coming through the group’s continued portfolio refinement (€2bn in divestments and around €0.7bn in acquisitions to 30 September 2019).
CRH expects its 2019 full-year EBITDA to be in excess of €4.15bn.