CRH issues Interim Management Statement

CRH plc has issued an Interim Management Statement in accordance with the reporting requirements of the EU Transparency Directive.

As expected, third quarter trading benefited from continued positive momentum in the Americas where overall economic recovery is driving construction demand. The backdrop in Europe continues to be mixed but stable.

Cumulative sales from continuing operations amounted to €15.5 billion for the nine months to the end of September, an increase of 16% compared with the corresponding period in 2014.

EBITDA from continuing operations was €1.5 billion, an increase of 34%; Europe up 3%; Americas up 55%.

A relentless focus on performance in all our businesses, coupled with our vertically integrated business model for heavyside materials, delivered the strong operational leverage underpinning improved margins and returns.

Integration of the businesses acquired from Lafarge/Holcim (LH) is progressing well. These businesses, which are performing in line with CRH’s expectations, are expected to contribute EBITDA of approximately €0.34 billion to CRH’s 2015 results, before taking into account one-off transaction costs and accounting for adjustments totalling €0.2 billion.

With momentum continuing to be positive in the Americas, the company has reiterated our guidance that 2015 will be a year of growth.

Adapted from press release by Joseph Green

Read the article online at: https://www.worldcement.com/europe-cis/19112015/crh-issues-interim-management-statement-28/