2024 a strong year for CRH
Company delivers another year of double-digit profit growth and 11th consecutive year of margin expansion
CRH have reported another year of industry-leading financial performance for the 12 months ended 31 December 2024, underpinned by their differentiated strategy along with resilient underlying demand in key end-use markets, continued commercial progress, and contributions from acquisitions.
Total revenues of US$35.6 billion (2023: US$34.9 billion) were 2% ahead of 2023. Net income was 15% ahead of 2023 at US$3.5 billion (US$3.1 billion) and adjusted EBITDA of US$6.9 billion (US$6.2 billion) was 12% ahead, reflecting the continued delivery of the company's customer-connected solutions strategy, positive pricing, ongoing cost control, and further operational efficiencies.
CRH’s net income margin of 9.9% (8.8%) and adjusted EBITDA margin of 19.5% (17.7%) were well ahead of the prior year.
In 2024, CRH completed 40 acquisitions for a total consideration of US$5 billion, compared with US$0.7 billion in 2023.
The largest acquisition in 2024 was in Americas Materials Solutions where CRH acquired an attractive portfolio of cement and ready-mixed concrete assets and operations in Texas for a total consideration of US$2.1 billion. In addition, Americas Materials Solutions completed a further 20 acquisitions and Americas Building Solutions completed 10 acquisitions for a total spend in the Americas of US$3.8 billion.
Meanwhile, International Solutions completed nine acquisitions for a total spend of US$1.2 billion, including the acquisition of a majority stake in Adbri Ltd, a market leader in cement and aggregates in Australia.
CRH also completed 10 divestitures and realized proceeds from divestitures and disposal of long-lived assets of US$1.4 billion, primarily related to the divestiture of their European lime operations.
Jim Mintern, chief executive officer, said: ‘2024 was a strong year for CRH, driven by our customer-connected solutions strategy and leading positions of scale in attractive, higher-growth markets.
‘We delivered another year of double-digit profit growth and an 11th consecutive year of margin expansion, reflecting a continued focus on commercial management and operational excellence across the organization.
‘The strength of our balance sheet enabled us to invest US$5 billion in 40 value-accretive acquisitions while also returning US$3 billion of cash to shareholders through dividends and share buybacks.’
Mr Mintern added: ‘The outlook for our business remains positive, underpinned by favourable demand and positive pricing momentum, leaving us well positioned for another year of growth and value creation ahead.’
