Year of continued profit growth for CRH
2017 sees profit growth with margins and returns ahead in all American and European divisions
CRH have reported another year of profit growth with margins and returns ahead in all American and European Divisions. In their full-year results for the 12 months ended 31 December 2017, sales of €27.6 billion were 2% ahead of 2016 (up 2% like for like), whilst EBITDA was up 6% to €3.3 billion (up 3% like for like) and EBITDA margin of 12.0% was up from 11.5% in 2016. Cash inflow of €2.2 billion from operating activities was up from €2.0 billion in 2016, and pre-tax profit of €2.0 billion in 2017 was up from €1.74 billion the previous year.
Commenting on the results, CRH’s chief executive, Albert Manifold (pictured), said: ‘2017 was a year of continued profit growth for CRH. We benefited from increases in underlying demand in the Americas and positive momentum in Europe, and with focus on performance improvement and operational delivery, margins and returns were ahead of last year in our American and European Divisions.
‘Supported by strong operational cash generation, we continued to deliver value through efficient capital management. With a balanced portfolio of businesses CRH are well positioned to capitalize on ongoing economic recovery and our focus remains on consolidating and building upon the gains made in 2017. Against this backdrop, we believe that 2018 will be a year of continued growth for the Group.’