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CRH plc 2005 results - year ended 31st December 2005

07 March 2006

Year ended 31st December 2005
euro m
euro m
% change
Sales 14,449 12,755 + 13%
Operating profit * 1,392 1,220 + 14%
Profit before tax 1,279 1,104 + 16%
euro cent euro cent
Earnings per share 186.7 163.6 + 14%
Cash earnings per share 292.5 261.8 + 12%
Dividend 39.0 33.0 + 18%

* Under IFRS, operating profit for both 2005 and 2004 does not reflect any charge for goodwill amortisation and is stated before profit on disposal of fixed assets.

  • CRH once again produced record sales and profits, a combination of strong underlying organic growth and good incremental contributions from acquisitions.
  • Total operating profit from European operations improved 7% to euro 676 million.
  • In Europe Materials, operating profit improved 18% to euro 377 million reflecting a full-year share of profit from Secil (acquired June 2004) in Portugal and a strong underlying advance.
  • Europe Products was impacted by generally subdued trading and a sharp decline in results from Insulation activities. Operating profit fell 8% to euro 176 million.
  • Operating profit of euro 123 million from Europe Distribution was just ahead of 2004 against a background of subdued Dutch retail demand and poor weather early in the year.
  • Total operating profit for the Americas operations increased by 22% to euro 716 million.
  • Americas Materials achieved significant success in recovering higher energy costs with a 20% increase in operating profit to euro 328 million and a welcome improvement in margin.
  • With continuing strong US residential construction and ongoing recovery in non-residential construction, Americas Products delivered a 23% increase in operating profit to euro 308 million.
  • Americas Distribution performed particularly strongly reporting a 27% increase in operating profit to euro 80 million, while operating profit margin improved to 7.0% (2004: 6.2%).
  • Total dividend has been increased by 18.2% making 2005 the 22nd consecutive year of dividend increase. This follows a 17.4% increase in 2004.
  • Total development activity amounted to euro 1.45 billion.

Liam O’Mahony, Chief Executive, said today:

“CRH continued to move forward on many fronts in 2005, once again producing new record sales and profits, with strong underlying profit growth and good contributions from acquisitions. The Group also delivered substantial development success, especially in the second half of the year.

While as always risks remain, the current business outlook is on the whole positive and we enter 2006 with good momentum. A gradual pick-up in European economies seems broadly under way, which if maintained should bring good benefits. In the US, while housing may moderate at strong levels, non-residential construction should continue to recover and highway markets are underpinned by passage of the new Highway Bill. With a continuing focus on operational effectiveness and ongoing acquisition benefits, we look to 2006 with confidence."

Announced Tuesday, 7th March 2006

View the full release (PDF, 191KB, opens in a new window).

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