CRH announce first quarter 2025 results

Performance overview

Total revenues of US$6.8 billion (Q1 2024: $6.5 billion) were 3% ahead as contributions from acquisitions and strong commercial management more than offset the impact of divestitures and lower activity levels due to adverse weather in many regions. Net loss of (US$98) million (Q1 2024 net income: $114 million) was behind the prior year, with a solid underlying operating performance offset by the non-recurrence of gains on prior year divestitures. Adjusted EBITDA* of US$495 million (Q1 2024: US$445 million) was 11% ahead as a result of the continued delivery of CRH's differentiated strategy, positive pricing, ongoing cost control and further operational efficiencies. CRH's net loss margin of (1.5%) was behind Q1 2024 (Q1 2024 net income margin: 1.7%), while Adjusted EBITDA margin* of 7.3% (Q1 2024: 6.8%) was ahead of the comparable prior year period. Diluted (loss) earnings per share for Q1 2025 was (US$0.15) (Q1 2024: US$0.16).

• Americas Materials Solutions' total revenues were 2% ahead of Q1 2024, driven by continued pricing progress across all lines of business along with positive contributions from acquisitions, which offset the effects of lower activity due to weather disruption in many regions. Adjusted EBITDA was well ahead of the prior year period, driven by commercial progress, ongoing cost management and operational efficiencies.
• Americas Building Solutions' total revenues were 1% behind Q1 2024 as contributions from acquisitions and strong performances in the water and energy markets were offset by weather-impacted demand. Adjusted EBITDA declined by 7% due to adverse weather and subdued residential activity.
• International Solutions' total revenues were 7% ahead of Q1 2024, driven by good contributions from acquisitions and continued pricing progress, more than offsetting the impact of lower activity levels due to challenging weather in certain markets. Adjusted EBITDA was 22% ahead of the prior year, driven by good commercial management, operational efficiencies and contributions from acquisitions.

Acquisitions and Divestitures

In the three months ended March 31, 2025, CRH completed eight acquisitions for a total consideration of US$0.6 billion, compared with US$2.2 billion in the first quarter of 2024. Americas Materials Solutions completed five acquisitions, the largest of which being Talley Construction, a vertically integrated asphalt and paving company with operations in Tennessee, Georgia, Alabama and North Carolina, while Americas Building Solutions completed three acquisitions.

With respect to divestitures, CRH realised proceeds from divestitures and disposals of long-lived assets of US$0.1 billion, compared with US$0.7 billion in the first quarter of the prior year.

Dividends and Share Buybacks

In line with CRH's policy of consistent long-term dividend growth, the Board has declared a quarterly dividend of US$0.37 per share. This represents an increase of 6% on the prior year. The dividend will be paid wholly in cash on June 25, 2025, to shareholders registered at the close of business on May 23, 2025. The ex-dividend date will be May 23, 2025.

As part of its ongoing share buyback program, CRH repurchased approximately 3.2 million Ordinary Shares in Q1 2025 for a total consideration of US$0.3 billion. On May 2, 2025, the latest tranche of the share buyback programme was completed, bringing the year-todate repurchases to US$0.5 billion. CRH is pleased to announce that it is commencing an additional US$0.3 billion tranche to be completed no later than August 5, 2025.

Innovation and Sustainability

CRH is committed to driving profitable growth by providing its customers with innovative solutions that support the transition to a more sustainable built environment. CRH's customer-centric approach to innovation gives CRH the ability to leverage the benefits of existing and emerging technologies to drive efficiency and margin expansion. CRH's ability to transform essential materials into value-added and innovative solutions enables CRH to better serve its customers' needs, address the global challenges of water, circularity and decarbonisation and make construction simpler, safer and more sustainable.

2025 Full Year Outlook

Due to the localised nature of CRH's operations, CRH do not expect a material direct impact from recent changes in global trade policies on our business. Notwithstanding the current macroeconomic uncertainty, the outlook for CRH remains positive and CRH reaffirm their financial guidance for 2025. While it is still early in the construction season, CRH continue to expect positive underlying demand across key end-use markets in 2025, underpinned by significant public investment in critical infrastructure and continued re-industrialisation activity in key non-residential segments. Within the residential sector, the new-build segment is expected to remain subdued, while repair and remodel activity remains resilient. Assuming normal seasonal weather patterns and absent any major dislocations in the political or macroeconomic environment, CRH’s differentiated strategy and leading positions of scale in attractive higher-growth markets, together with their strong and flexible balance sheet, are expected to underpin another year of growth and value creation in 2025.

 

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