Brief: CRH expects full year EBITDA to rise to $6.2 bln

CRH

24/08/2023 12:09

Aug 24 (Reuters) - Crh Plc  CRH.L :
    * 2023 INTERIM RESULTS
    * STRONG H1 DELIVERY; FURTHER GROWTH ACROSS ALL KEY METRICS
    * INCREASING CASH RETURNS; INTERIM DIVIDEND +4% & $3BN SHARE
BUYBACK UNDERWAY
    * POSITIVE OUTLOOK … EXPECT FY EBITDA OF C. $6.2BN
    * H1 SALES 8% AHEAD OF SAME PERIOD LAST YEAR, OR 4% AHEAD ON
A
LIKE-FOR-LIKE BASIS
    * EBITDA OF $2.5 BILLION WAS 14% AHEAD OF 2022, 7%
LIKE-FOR-LIKE
    * AMERICAS MATERIALS SOLUTIONS DELIVERED A STRONG
PERFORMANCE WITH
SALES 9% ABOVE 2022 LEVELS, EBITDA +13%
    * AMERICAS BUILDING SOLUTIONS SALES WERE 21% AHEAD OF 2022,
EBITDA
+25%
    * EUROPE MATERIALS SOLUTIONS SALES WERE IN LINE WITH 2022
REFLECTING CONTINUED STRONG PRICING PROGRESS, EBITDA +13%
    * EUROPE BUILDING SOLUTIONS SALES WERE 4% BEHIND SAME PERIOD
IN
2022, EBITDA -15%
    * OPERATIONS IN NORTH AMERICA ARE EXPECTED TO BE SUPPORTED
BY
ROBUST INFRASTRUCTURE DEMAND, UNDERPINNED BY SIGNIFICANT
INCREASES IN US FEDERAL AND STATE FUNDING
    * OUR BUSINESSES IN EUROPE ARE EXPECTED TO BENEFIT FROM
SOLID
INFRASTRUCTURE DEMAND, GOOD NON-RESIDENTIAL ACTIVITY AND
POSITIVE PRICING MOMENTUM, WHILE RESIDENTIAL MARKET IS EXPECTED
TO REMAIN CHALLENGING
    * EXPECT YEAR-END NET DEBT TO EBITDA RATIO OF BETWEEN 1.1X
AND
1.3X (2022: 0.9X)

Further company coverage:  CRH.L 

 (Reporting By Padraic Halpin)
 ((Padraic.Halpin@thomsonreuters.com;))