CRH chief: 2018 brought ‘record profit delivery’

By |  February 28, 2019

Logo: CRH

Sales last year at CRH finished at 26.8 billion euros, up 6 percent versus 2017, the company reported upon releasing its 2018 year-end results.

CRH established a record earnings before interest, tax, depreciation and amortization (EBITDA) at 3.37 billion euros, up 7 percent over 2017.

“2018 was another year of record profit delivery for CRH,” says Albert Manifold, chief executive of CRH. “We benefited from good demand and continued favorable market fundamentals in the Americas coupled with positive underlying momentum in Europe. Both were experienced against a backdrop of energy-related input cost inflation and significant weather disruption throughout the year, but with a continued focus on performance improvement and operational delivery, margins were ahead of last year.”

CRH continued down the merger and acquisition path in 2018, as well.

“Supported by strong cash generation, we continued to deliver value through efficient capital management, completing 3.6 billion [euros] of acquisitions and 3.0 billion [euros] of disposals, while returning 0.8 billion [euros] to shareholders in the year through our share buyback program,” Manifold says. “CRH remains well positioned to build upon the gains made in 2018.

“With a relentless focus on continuous business improvement, margin expansion, cash generation and returns for shareholders, together with continued strong financial discipline and efficient allocation of capital, we believe 2019 will be a year of progress and further growth for the group,” Manifold adds.

Kevin Yanik

About the Author:

Kevin Yanik is the editor-in-chief of Pit & Quarry magazine. Yanik can be reached at 216-706-3724 or kyanik@northcoastmedia.net.

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