CRH delivered a robust first-half performance with strong pricing offsetting cost inflation, significant contributions from prior year acquisitions and good underlying demand in key end-use markets.
First-half sales of $16.1 billion were 8% ahead of the same period last year, or 4% ahead on a like-for-like basis. Supported by its continued focus on commercial management and operational efficiencies, EBITDA of $2.5 billion was 14% ahead of 2022.
Americas Materials Solutions delivered a strong performance with sales 9% above 2022 levels driven primarily by solid price progression across all lines of business. EBITDA was 13% ahead, as good commercial management offset the impact of higher input costs and lower volumes resulting from unfavourable weather in certain regions.
Americas Building Solutions sales were 21% ahead of 2022, as strong contributions from prior year acquisitions and good commercial progress offset the impact of unfavourable weather on first-half activity levels. EBITDA was 25% ahead as a result of continued progress on pricing, cost control and production efficiencies.
Europe Materials Solutions sales were in line with 2022 reflecting continued strong pricing progress which offset the impact of lower activity levels. EBITDA was 13% ahead, supported by good commercial discipline across all markets which, together with a continued focus on cost savings, more than offset cost inflation.
Europe Building Solutions sales were 4% behind the same period in 2022, impacted by extended winter weather conditions and softer residential demand. EBITDA was 15% behind the prior year.
First-half profit after tax of $1.2 billion was 26% ahead of 2022 driven by a robust trading performance and the contribution from prior year acquisitions.
“I am pleased to report a strong first half performance reflecting the continued delivery of our differentiated strategy, further commercial progress across our businesses and good contributions from acquisitions,” said Albert Manifold, chief executive. The strength of our balance sheet together with our relentless focus on disciplined capital allocation will enable us to invest in future growth and value creation opportunities for our business.”