Robust performance in challenging environment

Global building materials group CRH report interim results for first six months to 30 June

IN their interim results for the six months ended 30 June 2020, global building materials group CRH plc say they achieved a robust performance in a challenging environment.

Despite like-for-like sales revenue being down 3% at US$12.2 billion in the first half, EBITDA increased by 2% to US$1.6 billion and EBITDA margin was up 70bps at 13%. Likewise, operating cash flow in the first half rose by US$0.7 billion to US$1 billion and the Group’s debt position improved by US$3.8 billion.

Albert Manifold, CRH’s chief executive, said today: ‘Our first-half performance is testament to the hard work and dedication of all our people during a very challenging and uncertain period.

‘As ever, health and safety is our number one priority and our primary focus is to provide a safe working environment for all of our employees. As a Group, we took swift and comprehensive action in response to the COVID-19 crisis, and our ability to flex our cost base and deliver improved profitability, margins and cash generation in a rapidly evolving environment demonstrates the strength and resilience of our business.

‘The outlook for the rest of the year and into 2021 remains uncertain and is dependent on an improving health situation across our markets.’