Filter by year: CRH plc 2014 results - year ended 31st December 2014

26 February 2015

1 EBITDA (earnings before interest, tax, depreciation, amortisation and impairment charges) and EBIT (earnings before interest and tax) exclude profit on disposals and CRH's share of joint ventures' and associates' profit after tax.
2 In 2013 earnings per share before impairment charges and related tax amounted to 59.5c.

Albert Manifold, Chief Executive, said today:

"2014 was a year of strong strategic, operational and financial progress for CRH. We were able to use the underlying strength of our business to capitalise on the recovering markets and deliver a return to profit and margin growth. With further improvements expected in market conditions across our main geographies, together with easing commodity prices, the benefits of cost efficiencies and a favourable exchange translation effect, we expect 2015 to be another year of progress."

Key Points

  • Improving economic backdrop; US recovery gaining momentum, Europe normalising
  • Focus on performance and operational delivery
  • Strong cash generation
  • Financial discipline and balance sheet strength

Financial Highlights

  • Sales of €18.9 billion, 5% ahead of 2013; like-for-like sales up 4%
  • EBITDA up 11% to €1,641 million; ahead of November guidance
  • Cash inflow of €0.9 billion from operations; year-end net debt of €2.5 billion
  • Dividend per share maintained at 62.5c

Operational Highlights

  • Increased margins in all divisions and strong operating leverage
  • Cost savings of €118 million, bringing cumulative total to €2.5 billion

Strategic Highlights

  • Delivery on capital allocation and reallocation at attractive multiples
  • Acquisitions and investments of €0.19 billion
  • Divestment and disposal proceeds of €0.35 billion; €0.58 billion due to complete in Q1 2015

Announced Tuesday, 26 February 2015

Disclaimer:
This Statement contains certain forward-looking statements as defined under US legislation. By their nature, such statements involve uncertainty; as a consequence, actual results and developments may differ from those expressed in or implied by such statements depending on a variety of factors including the specific factors identified in this Statement and other factors discussed in our Annual Report on Form 20-F filed with the SEC.

CRH will host a webcast and conference call at 8.30am GMT today, 26 February 2015, to discuss this announcement. Registration details can be found on the Results Centre section of the website http://crh.com/investors/results-centre.

Contact CRH at Dublin 404 1000 (+353 1 404 1000)
Albert Manifold Chief Executive
Maeve Carton Finance Director
Frank Heisterkamp Head of Investor Relations

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