CRH deliver resilient nine-month performance
Group reports further growth in sales, EBITDA and margin in challenging and volatile cost environment
IN a trading update on the nine-month period to 30 September 2022, CRH have reported further growth in sales, EBITDA, and margin, achieving a resilient performance in an inflationary cost environment.
Cumulative nine-month sales to the end of September amounted to US$24.4 billion, an increase of 13% compared with the same period in 2021, with the positive momentum experienced in the first half of the year continuing into the third quarter, driven by resilient demand, strong pricing, and continued delivery from the company’s integrated solutions strategy.
EBITDA for the cumulative nine-month period was US$4.2 billion, 14% ahead of the prior year, whilst nine-month EBITDA margin was 10bps ahead of 2021 at 17.1%, despite significant cost headwinds.
Chief executive Albert Manifold said: ‘Notwithstanding a challenging and volatile cost environment, I am pleased to report further growth in sales, EBITDA, and margin during the first nine months of the year. This performance reflects the resilience of our business and the benefits of our integrated and sustainable solutions strategy.
‘The strength of our balance sheet combined with our relentless focus on disciplined capital allocation provides further opportunities to create value for all our stakeholders. Looking ahead to the remainder of the year, we expect to deliver full-year EBITDA of approximately US$5.5 billion, representing another year of progress for the Group.’
CRH will report their preliminary results for the full-year 2022 on Thursday 2 March 2023.