Brief: CRH to increase share buybacks to $3 bln after record 2022

CRH

02/03/2023 07:22

March 2 (Reuters) - CRH PLC  CRH.L :
    * FY DIVIDEND +5%, SIGNIFICANTLY INCREASING SHARE BUYBACK TO
$3BN
OVER NEXT 12 MONTHS
    * FY DIVIDEND +5%, SIGNIFICANTLY INCREASING SHARE BUYBACK TO
$3BN
OVER NEXT 12 MONTHS
    * RECOMMENDING TRANSITION TO US PRIMARY LISTING IN 2023
    * RAISING SUSTAINABILITY AMBITIONS; UPDATED 1.5°C
DECARBONISATION
TARGETS
    * NEW ORGANISATIONAL STRUCTURE; ALIGNING WITH INTEGRATED
SOLUTIONS
STRATEGY
    * RECOMMENDING TRANSITION TO US PRIMARY LISTING IN 2023
    * EXPECT RESILIENT DEMAND AND INCREASED PRICING IN 2023
DESPITE
MACROECONOMIC UNCERTAINTIES AND ONGOING COST INFLATION
    * FY GROUP SALES OF $32.7 BILLION (2021: $29.2 BILLION) WERE
12%
AHEAD OF 2021 ON BOTH A TOTAL AND LIKE-FOR-LIKE BASIS
    * EBITDA OF $5.6 BILLION (2021: $5.0 BILLION) WAS 13% AHEAD
    * AMERICAS MATERIALS DELIVERED A STRONG PERFORMANCE WITH
TOTAL
SALES 15% ABOVE 2021 LEVELS AND LIKE-FOR-LIKE SALES 12% AHEAD
    * EUROPE MATERIALS LIKE-FOR-LIKE SALES WERE 11% AHEAD
    * CRH - IN EUROPE, EXPECT POSITIVE PRICING MOMENTUM TO
OFFSET
LOWER VOLUMES IN 2023
    * WE EXPECT RESILIENT DEMAND AND INCREASED PRICING IN 2023
DESPITE
MACROECONOMIC UNCERTAINTIES AND ONGOING COST INFLATION
    * OUR OPERATIONS IN NORTH AMERICA WILL BENEFIT FROM STRONG
PRICING
AND ROBUST INFRASTRUCTURE DEMAND
    * CRH - GROUP HAS DECIDED TO TRANSITION TO A NEW
ORGANISATIONAL
STRUCTURE, EFFECTIVE FROM 1 JANUARY 2023
    * IN EUROPE WE EXPECT POSITIVE PRICING MOMENTUM TO OFFSET
LOWER
VOLUMES
    * CRH REMAINS WELL POSITIONED FOR ANOTHER YEAR OF PROGRESS
IN 2023
    * CRH - CHANGE IN LISTING STRUCTURE WILL HAVE NO IMPACT ON
CRH
PLC, WHICH WILL REMAIN HEADQUARTERED, INCORPORATED AND
TAX-RESIDENT IN IRELAND
    * GROUP ENDED 2022 WITH $5.9 BILLION OF CASH AND CASH
EQUIVALENTS
ON HAND
    * IN 2022 GROUP INVESTED $3.3 BILLION ON 29 ACQUISITIONS
    * CHANGE IN LISTING STRUCTURE WILL HAVE NO IMPACT ON CRH
PLC,
WHICH WILL REMAIN HEADQUARTERED, INCORPORATED AND TAX-RESIDENT
IN IRELAND

Further company coverage:  CRH.L 

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