CRH reports an increase in sales from continuing operations of 2.5% for the first four months of 2015, thanks largely to an 8% gain in the Americas. In Europe, sales from continuing operations slipped 2%, which is attributed to the mild weather experienced in the same period of the previous year providing a tough basis for comparison. In general, the company reports that operations in Europe are showing improvement.
Divestment proceeds of €0.54 billion were achieved during the January – April period, bringing total proceeds from divestments to approximately €0.9 billion since the programme began in August 2014. Spend on acquisitions and investments amounted to €45 million. By the middle of the year, the acquisition of selected assets from Holcim and Lafarge will be completed for an enterprise value of €6.5 billion, conditional on the successful merger of Lafarge and Holcim. The outcome of this acquisition is not included in the forecast for the rest of the year. Meanwhile, CRH’s cost reduction initiatives are on track to deliver savings of €75 million in 2015, bringing cumulative savings for the 2007 – 2015 period to €2.6 billion.
First half EBITDA is expected to be close to 10% up on 1H14 on a constant currency basis, with the Americas region seeing significant y/y gains. The Group expects further progress in the second half.
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/europe-cis/06052015/crh-sees-rise-in-sales-for-january-april-period-791/