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.
- 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.
- 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/