CRH plc’s sales pick up in 3Q13
3Q13 results
Building materials group CRH plc has released an interim report detailing its results for 3Q13. During the quarter, total sales increased by 2% on a like-for-like basis. This rise resulted from a more moderate decline in the European markets, greater activity in residential and non-residential construction in the US, as well as more favourable weather conditions there. In January to September 2013, sales were up 3% on a like-for-like basis compared to the corresponding period in 2012. Sales revenue for 3Q13 reached €5.4 billion, 2% higher than the €5.3 billion achieved in 3Q12. Sales revenue for the first nine months of the year dropped by 1% on a like-for-like basis, coming in at €13.4 billion. EBITDA grew from €0.64 billion in 3Q12 to €0.66 billion in 3Q13. Through cost saving measures, around €195 million is expected to be saved in 2013, with cumulative savings of €2.6 billion by the end of 2015.
Regional highlights
Europe
- In 3Q13, total sales in Europe declined by less than 1% like-for-like, with a slight increase in EBITDA.
- Sales for Europe Materials decreased by 9% like-for-like in the first nine months of 2013.
- Cement sales volumes were up 5% in Poland in 3Q13 and up by 8% in the Ukraine.
- The company has reported positive trends in Switzerland and declining demand in Finland. Volumes and prices in Benelux were impacted by a weak regional market, while market conditions in Ireland and Spain continued to pose a challenge.
- Sales for Europe Products were up 1% on a like-for-like basis in 3Q13.
Americas
- Sales increased by 4% in 3Q13, with EBITDA up 10% like-for-like for the quarter as the US construction sector continues to strengthen.
- Sales volumes of aggregates were up by 6% and asphalt and ready-mix concrete volumes remained in line with 2012. These results were impacted by unfavourable weather conditions in July and early August, although these improved in mid-August and September.
- Like-for-like sales in 3Q13 grew by 10% for Americas Products.
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/europe-cis/12112013/crh_3q13_results_402/
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