Thursday 27 October 2016

CRH sales hit €15.5bn in first nine months of the year

Paul O'Donoghue

Published 19/11/2015 | 07:31

CRH chief executive Albert Manifold
CRH chief executive Albert Manifold

Cumulative sales at CRH, Ireland's biggest company, hit €15.5bn in the nine-month period to the end of September, an increase of 16pc year-on-year.

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In an interim management statement published this morning the building materials giant said it expects full-year earnings before deductions from its legacy business to be 25pc ahead of last year.

Analysts from Davy Stockbrokers said that this implies full year earnings of just under €2bn, 5pc ahead of forecast.

The acquisition of assets from Lafarge and Holcim, who merged earlier this year to form the world's largest building company, is expected to contribute EBITDA (earnings before interest, taxes, and amortization) of €340m for 2015, ahead of analyst forecasts of €296m.

CRH said EBITDA outturn for the year is estimated to amount to €2.08bn.

Sales in the first nine months of the year rose by 28pc at the the company's American arm while in Europe sales rose by 2pc.

Management expects net debt to fall from €8bn to below €7.5bn by the end of the year.

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