First-quarter 2021 sales up at CRH

First-quarter like-for-like aggregates volumes were 4 percent behind 2020 at CRH Americas Materials. Photo: P&Q Staff

First-quarter like-for-like sales increased 3 percent at CRH compared with the same period in 2020.

According to CRH, weather disruption in its North America and Europe materials businesses partly offset a strong performance in building products.

“We had a positive start to the year in a seasonally quiet period for our business, with good underlying demand and pricing progress across our key markets,” says Albert Manifold, chief executive at CRH. “While near-term uncertainties remain, we expect first-half profitability to be well ahead of the prior-year period, which experienced a heavily disrupted second quarter due to COVID-19. As we look ahead to the second half of the year, we expect further normalization in our markets as the health situation continues to improve.”

CRH Americas Materials

Like-for-like sales in CRH Americas Materials’ operations were 1 percent behind 2020, as strong commercial management partly offset the impact of harsh winter weather conditions on volumes in February. The bidding environment remains stable, the company says, with average year-to-date prices increasing 3 percent.

First-quarter like-for-like aggregate volumes were 4 percent behind 2020, CRH adds. Adverse weather conditions impacted volumes. Average year-to-date prices increased by 3 percent.

In CRH Americas Materials’ asphalt business, unfavorable weather resulted in volumes being 6 percent behind on a like-for-like basis. Average prices were 3 percent behind, but margins increased because of lower input costs.

Additionally, ready-mixed concrete volumes were 2 percent ahead on a like-for-like basis, driven by strong demand across most regions. Average prices were 5 percent ahead, with increases across all CRH Americas Materials regions.

Despite near-term uncertainties, CRH expects group EBITDA (earnings before interest, tax, depreciation and amortization) for the first half of the year to be well ahead of the first half of 2020.