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CRH plc 2011 results - year ended 31st December 2011

28 February 2012

Year ended 31 December 2011
€ m
% change
Sales revenue 18,081 17,173 Up 5%
EBITDA* 1,656 1,615 Up 3%
Impairment charges
(32) (124)
Operating profit (EBIT)* 871 698 Up 25%
Profit before tax and impairment charges 743 658 Up 13%
Profit before tax 711 534 Up 33%
€ cent € cent
Earnings per share 82.6 61.3 Up 35%
Cash earnings per share 194.0 194.6 No change
Dividend 62.5 62.5 No change

* EBIT (earnings before interest and tax) and EBITDA (earnings before interest, tax, depreciation, amortisation and impairment charges) exclude profit on disposals and CRH's share of associates' profit after tax.

  • EBITDA of €1,656 million; November guidance - approximately €1.6 billion
  • Profit before tax and impairment of €743 million; November guidance - €678 to €708 million
  • Impairment charges of €32 million, significantly lower than 2010 (€124 million)
  • Profit before tax of €711 million, €177 million ahead of 2010
  • Earnings per share 35% ahead of last year at 82.6c (2010: 61.3c)
  • Dividend per share again maintained at 62.5c
  • Total development spend of €610 million on 45 acquisitions and investments
  • Capital expenditure of €576 million
  • Proceeds from disposals amounted to €492 million
  • Year-end net debt of €3.5 billion; net debt/EBITDA of 2.1x, EBITDA/net interest 6.4x
  • Balance sheet remains one of the strongest in the sector
  • Inclusion in FTSE 100 and FTSE All Share indices from mid-December 2011

Myles Lee, Chief Executive, said today:

“The positive profit outcome for 2011 demonstrates the advantages of CRH’s product and sectoral end- use balance and the benefits of the extensive reorganisation and restructuring measures implemented in response to the exceptionally difficult markets of recent years.

Assuming no major economic or energy market dislocations, we expect to generate further like-for-like revenue growth in 2012 with the achievement of targeted price increases a key priority. This combined with benefits from acquisitions completed in 2011 leads us to expect further progress in the year ahead”.

Announced Tuesday, 28 February 2012

This Results Announcement 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 statement and other factors discussed in our Annual Report on Form 20-F filed with the SEC.

Contact CRH at Dublin 404 1000 (+353 1 404 1000)
Myles Lee Chief Executive
Maeve Carton Finance Director
Éimear O’Flynn Head of Investor Relations
Rossa McCann Head of Group Finance

View the full release (PDF, 2.4 MB, opens in a new window).

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