Sunday 24 September 2017

European sales growth for CRH gets firm off to promising start despite flat America market

CRH chief executive Albert Manifold
CRH chief executive Albert Manifold
Louise Kelly

Louise Kelly

CRH has reported a rise in sales of 4pc year-on-year (3pc yoy on a like-for-like basis) in the first quarter of the year.

European sales grew by 6pc (like-for-like) as end-markets recovered, while sales in the Americas were flat despite the very difficult comparison base.

CRH is the biggest building materials supplier in North America, where it generated sales of €14.2bn last year.

Strong sales across Europe at Ireland's biggest company were led by key end-markets including Finland, Poland, France and the UK.

Americas Materials saw like-for-like growth of 2pc yoy with pricing higher in aggregates and ready-mixed concrete and improved asphalt volumes.

The group now expects H1 EBITDA to be ahead of 2016 (€1.12bn), better than previous guidance

Outlook for the second half of 2017 remains positive with steady growth expected in Europe and continued good trends in the Americas.

Against that backdrop, the group expects an improvement in H2 EBITDA, led by the Americas.

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