Press Releases

Filter by year:

CRH plc 2007 interim results - six months ended 30th June 2007

28 August 2007

Year ended 31st December 2007
euro m
euro m
% change
Revenue 9,698 8,028 + 21%
EBITDA* 1,141 925 + 23%
Operating profit * 771 613 + 26%
Profit on disposal of fixed assets 22 17 + 29%
Profit before tax 970 526 + 27%
euro cent euro cent
Earnings per share 92.8 73.7 + 26%
Cash earnings per share 160.9 131.7 + 22%
Dividend 20.0 13.5 + 48%

* EBITDA and operating profit are stated before profit on disposal of fixed assets.

  • With a particularly strong performance in Europe significantly outweighing more challenging conditions in the Americas, profit before tax for the six months to 30th June increased by 27% to euro 670 million while earnings per share grew by 26% to 92.8 cent.
  • Operating profit in Europe advanced by euro 165 million to euro 495 million, an increase of 50%. Organic growth, which accounted for euro 120 million or 73% of the first half increase, is substantially ahead of the full year 2006 organic growth of euro 81 million.
  • Operating profit in the Americas declined by euro 7 million (2.5%) to euro 276 million. Robust organic performances in our Materials and Products activities plus an excellent contribution from APAC were outweighed by lower profits in Distribution and the impact of a weaker US$.
  • Profit on disposal of fixed assets at euro 22 million was ahead of Interim 2006 (euro 17 million). It is anticipated that profit on disposal of fixed assets for the full year will exceed last year’s euro 40 million and that disposal of surplus properties will be an ongoing feature of the Group’s activities.
  • EBITDA/net interest cover remains high at over 9 times for the twelve months to June 2007, well above the Group’s comfort level of approximately 6 times. CRH is committed to optimising the use of its balance sheet while maintaining an investment grade credit rating.
  • The 48% interim dividend increase reflects both the ongoing adjustment in dividend cover from 4.8 times in 2005 to a target of 3.5 times in 2008 and the broad re-establishment of the traditional split between interim and final dividends.
  • First half expenditure on acquisitions and investments totalled almost euro 1 billion including the purchase of publicly-quoted Swiss builders merchant Gétaz Romang and CRH’s first transactions in China and Turkey.

Liam O’Mahony, Chief Executive, said today:

“CRH’s geographic, sectoral and product balance continues to deliver in 2007 both in terms of overall trading performance and development activity. With an ongoing focus on price and cost effectiveness driving organic performance, benefits from the record 2006 acquisition spend and a sustained development emphasis, we expect strong full year profit growth.”

Announced Tuesday, 28th August 2007

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)

Liam O’Mahony Chief Executive
Myles Lee Finance Director
Éimear O’Flynn Head of Investor Relations
Maeve Carton Group Controller

View the full release (PDF, 253KB, opens in a new window).

All news