Change In Segmental Reporting
16 February 2015
CHANGE IN SEGMENTAL REPORTING
FOLLOWING REORGANISATION OF EUROPEAN BUSINESS
During 2014 CRH commenced a reorganisation of its European business, and as stated in the Interim Management Statement on 11 November 2014, the process was completed towards the end of the year. We have now integrated our heavy materials business in Europe with our concrete and clay products businesses into one European Heavyside organisation and created a new Lightside products segment. This reorganisation will enable the Group to leverage the benefits of our operating plant network in European markets.
Europe Heavyside now includes CRH’s vertically-integrated building materials businesses in 21 countries across Europe; with significant stone reserves, this segment includes our aggregates and cement operations in Europe, as well as those businesses which manufacture and supply ready-mixed concrete, precast concrete products and concrete landscaping, and asphalt paving products for road surfacing.
Our Europe Lightside operations are involved in the production and supply of high-value construction products, including construction accessories, fencing, shutters & awnings and composite access chambers. With a strong focus on engineering, design and innovation, these businesses work closely with customers, architects and engineers to develop construction solutions that are approved and certified for individual target markets.
In line with the new organisation structure, segmental reporting in our 2014 Preliminary Results announcement on Thursday, 26 February 2015 will reflect the two new European reporting segments. This change only impacts the previously reported Europe Materials and Europe Products segments - our Europe Distribution and three Americas segments remain unchanged. There is no change to the Group’s reported total revenues, EBITDA, operating profit, net result or earnings per share.
Previously published 2013 financial information for the Group’s Europe Materials and Europe Products segments will be restated and presented under the Heavyside and Lightside segments as comparative information in our 2014 Annual Report. The attached schedule presents key restated segmental income statement data (revenue, EBITDA and Operating Profit) for both full year and Interim 2013 and 2012.
Contact CRH at Dublin 404 1000 (+353 1 404 1000)
Frank Heisterkamp Head of Investor Relations
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