Building materials provider CRH says it had a positive first-half performance in the first six months of this year, with further growth in sales and EBITDA (earnings before interest, taxes, depreciation and amortisation).
In its interim results for the six months ended 30 June 2022, CRH saw sales rise by 14% year on-year to US$15.0bn. EBITDA margin increased by 90 basis points to 14.7% in the same period.
CRH adds that its margin is ahead despite significant inflationary headwinds, which reflects the resilience of its business and integrated solutions strategy.
Year-to-date acquisition spend totalled US$2.8bn which included the June US$1.9bn purchase of Barrette Outdoor Living, a US-based provider of residential fencing and railing solutions.
CRH says that full-year EBITDA is expected to be around US$5.5bn (2021: US$5.0bn) in a challenging cost environment
The company’s chief executive Albert Manifold commented: “CRH has delivered another strong performance with further growth in sales, EBITDA and margin despite a challenging and volatile cost environment. This performance reflects the continued execution of our integrated and sustainable solutions strategy. Looking ahead, despite some continued cost headwinds, the strength of our balance sheet and resilience of our business leaves us well positioned to deliver superior value for all our stakeholders.”
