2016 Interim Results
25 August 2016
CRH plc, the international building materials group, issues the following Interim Results for the six months ended 30 June 2016.
- Strong profit delivery
- Good operating leverage
- Margins and returns ahead in all divisions
- Good cash management
- De-leveraging ahead of plan
- Interim dividend per share increased 1.6% to 18.8c
- Reported sales increased 35% to €12.7 billion. Reported EBITDA more than doubled to €1.12 billion.
- Proforma1 sales up 8%; up 3% in Europe, up 13% in the Americas and up 4% in Asia.
- Proforma EBITDA increased 20%; up 5% in Europe, up 39% in the Americas and up 7% in Asia.
- Proforma EBITDA margin 9.0% (proforma H1 2015: 8.1%).
- Operating cash outflow of €0.3 billion; better than the normal seasonal pattern.
- Net debt at 30 June of €7.1 billion; on track to deliver year-end debt metrics at or below normalised levels.
|Six months ended 30 June || |
| Reported |
| Proforma1 |
| ||€ m ||€ m || |
|Sales revenue ||12,693 ||9,370 ||+35% ||+8% |
|EBITDA ||1,120 ||555 ||+102% ||+20% |
|EBITDA margin ||8.8% ||5.9% || ||+90bps |
|Operating profit (EBIT) |
|588 ||189 ||+€399m || |
|Profit before tax ||407 ||63 ||+€344m || |
| ||€ cent ||€ cent || || |
|Basic earnings per share ||33.8 ||5.7 ||+28.1cent || |
|Dividend per share ||18.8 ||18.5 ||+1.6% || |
- See page 33 for glossary of financial terms used throughout this interim report
Albert Manifold, Chief Executive, said today:
”We have had a very satisfactory first half, with good performance from our heritage businesses and contributions from 2015 acquisitions delivering significant profit growth for CRH. As always, we have maintained a strong focus on cash management, and with de-leveraging ahead of plan, I am pleased to report that we expect year-end debt metrics to be at, or below, normalised levels. Against this backdrop, the Board has decided to increase the interim dividend by 1.6% to 18.8c per share. With continued positive momentum in the Americas and the modest impact of early-stage economic recovery in Europe, and assuming normal weather conditions for the remainder of the season, we expect further progress in the second half with full year reported EBITDA in excess of €3 billion.”
Announced Thursday, 25 August 2016
This document contains certain forward-looking statements as defined under US legislation. By their nature, such statements involve uncertainty; as a consequence, actual results and developments may differ from those expressed in or implied by such statements depending on a variety of factors including the specific factors identified in this document and other factors discussed in our Annual Report on Form 20-F filed with the SEC.
CRH will host a webcast and conference call at 8.30 a.m. BST (GMT +1) today, 25 August 2016 to discuss this announcement. Registration details can be found on the Results Centre section of our website www.crh.com/investors/results-centre.
|Contact CRH at Dublin 01 404 1000 (+353 1 404 1000) |
|Albert Manifold ||Chief Executive |
||Finance Director |
|Frank Heisterkamp ||Head of Investor Relations |
View the full release (PDF, 1.09 MB, opens in a new window).