CRH posted total revenues of USS$8.9bn in the fourth quarter of 2024, up two per cent YoY. The group's net income advanced by 24 per cent YoY to US$0.7bn in the 4Q24, resulting in a net income margin of eight per cent, an improvement of 140 basis points. Adjusted EBITDA was 12 per cent ahead at US$1.8bn in the 4Q24 when compared with 2023 and led to an adjusted EBITDA margin of 20 per cent, up 170 basis points.

Basic earnings per share saw a four per cent uptick to US$1.03 while pre-impairment, there was a 12 per cent increase to US$1.45 when compared with the 4Q23.

Full-year 2024
In the January-December 2024 period total revenues edged up by two per cent. Net income increased by 15 per cent YoY to US$3.5bn and the net income margin improved by 110 basis points to 9.9 per cent. Adjusted EBITDA in 2024 increased by 12 per cent YoY to US$6.9bn, leading to and adjusted EBITDA margin of 19.5 per cent, an improvement of 180 basis points. Basic earnings per share were up 16 per cent YoY to US$5.06 while pre-impairment they were US$5.48, up 18 per cent YoY. 

In the company's Americas Materials Solutions business, total revenues were five per cent ahead of 2023, primarily driven by price increases across all lines of business and positive contributions from acquisitions offsetting the impact of adverse weather. Adjusted EBITDA was 22 per cent ahead, driven by pricing improvements, operational efficiencies and good cost management, along with gains on the disposal of certain land assets, said the company.

Meanwhile, Americas Building Solutions' total revenues were one per cent ahead of 2023, with contributions from acquisitions more than offsetting the adverse weather impact on trading activity. Adjusted EBITDA was four per cent lower than the prior year, impacted by lower activity levels in certain markets, subdued new-build residential demand and against a strong prior year comparative.

In the company's International Solutions business, total revenues were one per cent behind 2023 due to lower activity levels in certain markets and the divestiture of the European lime operations which was partly offset by positive contributions from acquisitions. Adjusted EBITDA was seven per cent ahead, driven by commercial excellence measures, lower energy costs, a continued focus on cost management and operational efficiencies along with contributions from acquisitions.

"2024 was a strong year for CRH, driven by our customer-connected solutions strategy and leading positions of scale in attractive, higher-growth markets. We delivered another year of double-digit profit growth and an 11th consecutive year of margin expansion, reflecting a continued focus on commercial management and operational excellence across the organization. The strength of our balance sheet enabled us to invest $5 billion in 40 value-accretive acquisitions while also returning $3 billion of cash to shareholders through dividends and share buybacks. The outlook for our business remains positive, underpinned by favorable demand and positive pricing momentum, leaving us well positioned for another year of growth and value creation ahead," said CRH CEO, Jim Mintern. 

Acquisitions and divestitures
In 2024 CRH completed 40 acquisitions with a total value of US$5bn, a significant increase when compared with 2023 when the total value reached US$0.7bn. The largest acquisition was in Americas Materials Solutions where CRH acquired an attractive portfolio of cement and ready-mixed concrete assets and operations in Texas for a total consideration of US$2.1bn. 

In addition, Americas Materials Solutions completed a further 20 acquisitions and Americas Building Solutions completed 10 acquisitions for a total spend in the Americas of US$3.8bn. International Solutions completed nine acquisitions for a total spend of US$1.2bn, including the acquisition of a majority stake in Adbri Ltd (Adbri), a market leader in cement and aggregates in Australia.

Furthermore, CRH completed 10 divestitures and realised proceeds from divestitures and disposal of long-lived assets of US$1.4bn, primarily relating to the divestiture of the European lime operations. 

Outlook
Going forward, the company said it had significant financial capacity to support future growth and value creation, and highlighted that  the supportive underlying trends across key markets is expected to continue. 

In 2025 CRH expects to generate a net income of US$3.7-4.1bn while its adjusted EBITDA is forecast to reach US$7.3-7.7bn.