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CRH posts strong 2018 earnings growth thanks to good performance in both the Americas and Europe

The FTSE 100-listed Irish building materials group saw its underlying earnings (EBITDA) rise by 7% to €3.37bn, slightly ahead of the company’s own guidance for €3.35bn

Building materials
CRH's sales revenue increased by 6% to €26.79bn in 2018, with total like-for-like sales rising 3%

CRH PLC (LON:CRH) has reported strong 2018 earnings growth thanks to good performance in both the Americas and Europe.

The FTSE 100-listed Irish building materials group saw its underlying earnings (EBITDA) rise by 7% to €3.37bn, slightly ahead of the company’s own guidance for €3.35bn.

READ: CRH kicks off third phase of its share buyback programme

The group‘s sales revenue increased by 6% to €26.79bn, with total like-for-like sales rising 3%.

In Europe, CRH saw its like-for-like sales increase by 2%, while in the Americas they were 4%, and in Asia, they rose 8%.

CRH’s chief executive, Albert Manifold commented: "We benefited from good demand and continued favourable market fundamentals in the Americas coupled with positive underlying momentum in Europe."

He added: “Both were experienced against a backdrop of energy-related input cost inflation and significant weather disruption throughout the year but with a continued focus on performance improvement and operational delivery, margins were ahead of last year."

Looking ahead, CRH said it expects the US economy to grow in 2019 at a similar pace to 2018, with continued expansion in the US housing market.

It added that the outlook in Europe is positive, despite UK worries, while in Asia, the group expects things to continue doing well.

The group is paying a final dividend of 52.4 euro cents, taking the total to 2018 to 72 euro cents, up 5.9% from the 68 euro cents paid in 2017.

Quick facts: CRH PLC

Price: 2928 GBX

LSE:CRH
Market: LSE
Market Cap: £22.98 billion
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