01—Abstract
Summary
Summary of the 20-F filed March 11, 2022. Cited figures are marked; the original filing is the authoritative source.
CRH Public Ltd Co. (CRH) reported a record financial performance in 2021, driven by strong demand across its key markets and effective execution of its integrated solutions strategy.
Sales increased by 12% to $31.0 billiona, while EBITDA saw a significant rise of 16% to $5.35 billion. This robust performance translated into a substantial increase in profit after tax, which more than doubled to $2.6 billion, leading to a 130% surge in earnings per share to 328.8 cents. The company continued its commitment to returning capital to shareholders, increasing the dividend per share by 5% and repurchasing $0.9 billion in shares.
CRH's business model, organized into Americas Materials, Europe Materials, and Building Products divisions, demonstrated resilience and adaptability in an inflationary environment, with positive pricing actions and cost control measures mitigating input cost pressures. The company also made significant progress in its sustainability agenda, including an SBTi-approved target for a 25% absolute reduction in Scope 1 and 2 CO2 emissions by 2030. Furthermore, CRH continues to actively manage its portfolio, evidenced by its $1.5 billionb investment in acquisitions and a binding agreement to divest its Building Envelope business.
02—Key points
Key Highlights
- Record financial performance with a 12% increase in sales to $31.0 billion and a 16% increase in EBITDA to $5.35 billion.
- Profit after tax more than doubled to $2.6 billion, with earnings per share increasing by 130% to 328.8 cents.
- Dividend per share increased by 5% to 121.0 cents, demonstrating a commitment to shareholder returns.
- Successful acquisition strategy, investing $1.5 billion in bolt-on acquisitions to enhance business platforms.
- Divestment of Building Envelope business for $3.8 billion as part of active portfolio management.
- Positive progress on sustainability, with an SBTi-approved target for a 25% absolute reduction in Scope 1 and 2 CO2 emissions by 2030.
- Strong operational performance across all three divisions: Americas Materials, Europe Materials, and Building Products, benefiting from recovering market demand and effective pricing strategies.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2021, CRH Public Ltd Co kept $0.09.
- Revenue$29.21B100.0%
- Cost of revenue−$19.38B66.4%
- Gross profit$9.83B33.6%
- Operating costs−$6.50B22.3%
- Operating income$3.33B11.4%
- Interest, other & tax−$697.0M2.4%
- Net income$2.63B9.0%
Where FY2021 revenue went
$29.21B- Cost of revenue: $19.38B, 66% of revenue
- SG&A: $6.54B, 22% of revenue
- Net income: $2.63B, 9.0% of revenue
- Interest, other & tax: $697.0M, 2.4% of revenue
Kept 9.0% as net income
Full revenue history →04—Financials
Financial Highlights
Figures from 10-KFY2021filed March 11, 2022Financial Statements
| Revenue | $29.21B |
| Cost of Revenue | $19.38B |
| Gross Profit | $9.83B |
| SG&A Expenses | $6.54B |
| Operating Income | $3.33B |
| Interest Expense | $315.00M |
| Net Income | $2.63B |
| EPS (Basic) | $3.35 |
| EPS (Diluted) | $3.32 |
| Shares Outstanding (Basic) | 780.20M |
| Shares Outstanding (Diluted) | 786.80M |
05—Questions
Frequently Asked Questions
What were CRH's key financial results for 2021?
CRH reported record financial performance in 2021 with sales of $31.0 billion (up 12% from 2020) and EBITDA of $5.35 billion (up 16% from 2020). Profit after tax increased significantly to $2.6 billion, and earnings per share rose by 130% to 328.8 cents.
How did CRH manage its portfolio in 2021?
CRH continued its strategy of active portfolio management by investing $1.5 billion in 20 bolt-on acquisitions across its divisions to strengthen its business platforms. Additionally, the company entered into a binding agreement to divest its Building Envelope business for $3.8 billion.
What progress has CRH made on its sustainability goals?
CRH is committed to sustainability and has made positive progress. Notably, it expects to meet its 2030 carbon emissions reduction target ahead of schedule and has adopted an updated, SBTi-approved target for a 25% absolute reduction in Scope 1 and 2 CO2 emissions by 2030, supporting its ambition for carbon neutrality by 2050.
How did CRH return value to shareholders in 2021?
CRH demonstrated its commitment to shareholder returns by increasing its total dividend per share by 5% to 121.0 cents. The company also continued its share buyback program, repurchasing $0.9 billion of its shares during the year.
06—Continue