CRH’s cumulative nine-month sales to the end of September reached US$22.8bn, an increase of 11 per cent YoY and ahead seven per cent on a like-for-like basis. EBITDA was up 15 per cent YoY to US$3.9bn while EBITDA margin was up 50bps to 17.1 per cent.
Third quarter sales remained ahead of the prior year across all divisions, with good demand in key markets. Americas Materials was primarily driven by improved pricing as volume growth was impacted by inclement weather, while Europe Materials continued to benefit from improved activity levels in eastern Europe and the UK, according to CRH’s 9M trading update.
“CRH continues to perform well with good underlying demand and pricing progress across our key markets. Our uniquely integrated and solutions-focused business model has supported further margin expansion across our businesses, while our strong cash generation and disciplined approach to capital allocation provides further opportunities to create value for all of our stakeholders. Looking ahead to the remainder of the year, we expect to deliver another record performance for the group, with full-year EBITDA in excess of US$5.25bn,” said Albert Manifold, CEO.
Americas Materials
Nine-month LfL sales for the Americas Materials segment were three per cent ahead of the equivalent period in 2020, driven by higher volumes in aggregates, cement and ready-mixed concrete, along with pricing progression across all lines of business. EBITDA was also five per cent ahead on a like-for-like basis in the 9M21.
Cement volumes were six per cent ahead of the 9M20, while prices advanced five per cent.
Europe Materials
Sales for Europe Materials increased 13 per cent LfL in the first nine months of 2021, on the back of volume growth and price progress. LfL EBITDA also surged 28 per cent, reflecting the strong performance in the first half.
