CRH report record EBITDA delivery in 2018
Company reports seven per cent increase in EBITDA to €3.37 billion for the full year
CRH have reported sales of €26.8 billion for the full year 2018, 6% ahead of 2017. On a like-for-like basis, sales were up 3% overall, 2% ahead in Europe, 4% up in the Americas and 8% up in Asia.
Record EBITDA of €3.37 billion for the full year 2018 was up 7% (up 3% like for like) on the previous year, whilst like-for-like EBITDA was up 3% in Europe and the Americas and down 44% in Asia. EBITDA margin in 2018 was 12.6% (2017: 12.5%).
Commenting on the results, CRH’s chief executive, Albert Manifold (pictured), 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.
‘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 remain 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.’