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CRH boosts sales and earnings in first half of 2023

Ireland: CRH recorded US$16.6m in consolidated sales during the first half of 2023, up by 8% year-on-year from first-half 2022 levels. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) totalled US$2.5bn, up by 14%. Throughout the half, CRH invested US$600m in acquisitions, and maintained a ‘robust’ pipeline of further opportunities. In its Americas business, cement sales were ‘robust.’ There, volumes rose by 5%, and prices rose by 17%, despite adverse weather in Texas and the Western US. Meanwhile, price rises successfully offset local volume declines in Europe, but failed to do so in the Philippines. CRH said that infrastructure projects in the Philippines are experiencing delays. In Ukraine, it said that construction activity increased in the first half of 2023, despite the continuing Russian invasion.

CEO Albert Manifold said “I am pleased to report a strong first half performance, reflecting the continued delivery of our differentiated strategy, further commercial progress across our businesses and good contributions from acquisitions. The strength of our balance sheet, together with our relentless focus on disciplined capital allocation, will enable us to invest in future growth and value creation opportunities for our business.”


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