CRH report 2020 full-year results
Global group delivers robust performance with record profitability, margins and cash generation
REPORTING their full-year results for year ended 31 December 2020, CRH say they delivered a robust performance in a challenging year with further EBITDA and margin improvements despite lower activity levels, and with continued strong cash generation underpinning financial strength and flexibility.
Against a difficult backdrop due to significant COVID-19 related disruption in the economies and construction markets of North America and Europe, the global building materials group delivered overall sales of US$27.6 billion in 2020, down 2% on 2019, whilst EBITDA was up 5% at US$4.6 billion, on a like-for-like basis, reflecting a strong focus on cost rationalization and actions taken to mitigate the financial impact of the pandemic. EBITDA margin was 16.8% (+120bps) and operating cash flow increased by 1% to $3.9 billion.
Commenting on the results, CRH chief executive Albert Manifold said: ‘Our 2020 performance is testament to the commitment of our people and the strength and resilience of our business model. Through the repositioning of our business in recent years and our relentless focus on continuous business improvement, we have delivered record levels of profitability, margins and cash generation.’
He added: ‘Although the near-term outlook remains uncertain, our unique portfolio of businesses together with the strength of our balance sheet leaves us well positioned to capitalize on the growth opportunities that lie ahead.’