Irish building materials major CRH says the group’s integrated solutions strategy underpinned its strong 2022 performance.
CRH’s full-year sales were up 12% to US$32.7bn (€30.73bn). Despite significant cost inflation, group EBITDA was up 13% to $5.6bn (€5.26bn), an EBITDA margin of 17.2% was up 10bps, and an EPS of $3.50 (€3.28) represented a 14% rise.
A $3.3bn (€3.1bn) investment in solutions-focused acquisitions during 2023 has created a “strong pipeline of opportunities”, a group statement stated. Furthermore, a “strong and flexible” balance sheet offers “significant optionality” for “future value creation”.
CRH also raised its sustainability ambitions in 2022, updating its 1.5°C decarbonisation targets. The group’s new organisational structure is also said to align with its integrated solutions strategy.
Albert Manifold, CRH chief executive, said: “Our 2022 performance reflects the outstanding commitment of our people, the underlying strength and resilience of our business and the continued delivery of our integrated, solutions-focused strategy. Despite significant cost pressures throughout the year, we delivered further improvements in profits, margins and returns. Our strong cash generation, together with our relentless focus on disciplined capital allocation, has also delivered the strongest balance sheet in our history, providing us with significant opportunities for further growth and value creation going forward.”
