CRH plc issues Full Year Results for the year ended 31 December 2023.

Key Highlights

Strong performance; further growth in revenues, Adj. EBITDA, EPS, cash & returns

FY23 Adj. EBITDA $6.2bn (IFRS Adj. EBITDA $6.5bn, ahead of c.$6.3bn guidance)

Integrated solutions strategy delivering 10th consecutive year of margin expansion1

$2.1bn acquisition of materials assets in high-growth Texas market

$0.7bn invested in 22 strategic bolt-on acquisitions; robust pipeline of opportunities

$0.7bn agreement to acquire majority stake in Adbri in Australia

Ongoing share buyback; $3bn 12-month program complete; commencing $0.3bn quarterly tranche

FY23 dividend $1.33 (+5%); announcing new quarterly dividend of $0.35 (+5% annualized)

Strong & flexible balance sheet; significant optionality for long-term value creation

Expect FY24 Net income of $3.55bn to $3.80bn; Adj. EBITDA of $6.55bn to $6.85bn

Albert Manifold, Chief Executive, said: '2023 marked another record year of financial delivery for CRH, supported by good underlying demand across our key end-use markets, further pricing progress and the continued benefits of our differentiated, customer-focused strategy. Over the last decade our business has evolved from being a supplier of base materials into a fully integrated provider of value-added solutions. Through our technical expertise and the advancements we have made in product innovation, we are solving complex problems for our customers while making the construction process simpler, safer and more sustainable. Despite continued inflationary cost pressures during 2023 we expanded our margins and delivered further growth in profits, cash generation and returns. The strength of our balance sheet together with our relentless focus on the efficient allocation of capital enables us to capitalize on the opportunities we see for further growth and value creation in 2024 and beyond.'

Contact:

Tel: +353 1 404 1000

(C) 2024 Electronic News Publishing, source ENP Newswire