Summary
CRH plc reported a strong financial performance for the fiscal year ended December 30, 2022, showcasing resilience and strategic execution despite a challenging global economic environment. The company achieved record sales of $32.7 billion, a 12% increase year-over-year, driven by solid commercial progress and robust demand across its segments, particularly in North America. Profitability also saw significant improvement, with EBITDA increasing by 13% to $5.6 billion and operating profit up 17% to $3.9 billion. This strong performance was supported by the company's integrated solutions strategy, which focuses on providing value-added materials, products, and services across the construction lifecycle. CRH continues to prioritize sustainability, reinforcing its commitment with an industry-leading target to reduce absolute carbon emissions by 30% by 2030. The company is actively investing in innovation and sustainable solutions, evidenced by $12.6 billion in revenue from products with enhanced sustainability attributes and an $250 million venturing and innovation fund. The company also returned $2.1 billion to shareholders through dividends and share buybacks, demonstrating a commitment to shareholder value creation, while maintaining a strong balance sheet with net debt to EBITDA at 0.9x. The strategic repositioning towards more resilient sectors and disciplined capital allocation underpins CRH's positive outlook for continued progress in 2023.
Financial Highlights
56 data points| Revenue | $32.72B |
| Cost of Revenue | $21.91B |
| Gross Profit | $10.81B |
| SG&A Expenses | $7.06B |
| Operating Income | $3.81B |
| Interest Expense | $344.00M |
| Net Income | $3.86B |
| EPS (Basic) | $5.15 |
| EPS (Diluted) | $5.11 |
| Shares Outstanding (Basic) | 758.30M |
| Shares Outstanding (Diluted) | 764.10M |
Key Highlights
- 1Achieved record sales of $32.7 billion, a 12% increase year-over-year, driven by strong commercial progress and resilient demand.
- 2Reported a 13% increase in EBITDA to $5.6 billion and a 17% increase in operating profit to $3.9 billion, reflecting the effectiveness of the integrated solutions strategy.
- 3Maintained a strong balance sheet with Net Debt/EBITDA at 0.9x, supported by robust cash generation.
- 4Returned $2.1 billion to shareholders through dividends ($0.9 billion) and share buybacks ($1.2 billion).
- 5Generated $12.6 billion in revenue from products with enhanced sustainability attributes, demonstrating a commitment to sustainability.
- 6Invested $3.3 billion in acquisitions and strategic investments, including the significant acquisition of Barrette Outdoor Living for $1.9 billion, strengthening its integrated solutions offering.
- 7Announced an industry-leading target to reduce absolute carbon emissions by 30% by 2030, aligned with its net-zero ambition by 2050.