10-KPeriod: FY2024

CRH PUBLIC LTD CO Annual Report, Year Ended Dec 31, 2024

Filed February 26, 2025For Securities:CRH

Summary

CRH plc reported a strong financial performance for the fiscal year 2024, marked by record revenues of $35.6 billion and net income of $3.5 billion. Adjusted EBITDA saw a significant increase to $6.9 billion, reflecting a 19.5% margin, driven by disciplined cost management, operational efficiencies, and strategic acquisitions. The company continued its strategic focus on customer-connected solutions, integrating materials, products, and services across the construction value chain, which contributed to repeat business and improved customer relationships. The company's growth was propelled by substantial investments in strategic acquisitions, totaling $5.0 billion in 2024, including the significant acquisition of a cement and readymixed concrete portfolio in Texas and a majority stake in Australia's Adbri Ltd. These acquisitions, alongside organic growth and favorable market conditions, particularly in North American infrastructure and non-residential construction, underpinned the company's robust results. CRH also maintained a commitment to returning capital to shareholders through dividends and share repurchases, demonstrating a balanced approach to capital allocation.

Financial Highlights

55 data points
Beta

Revenue

$35.57B

35.7% Gross Margin

Net Income

$3.49B

9.8% Net Margin

EPS (Diluted)

$5.02

Total Assets

$50.61B

Cash & Equivalents

$3.72B

Free Cash Flow

$2.41B

Financial Statements
Beta
Revenue$35.57B
Cost of Revenue$22.87B
Gross Profit$12.70B
SG&A Expenses$7.85B
Operating Income$4.92B
Net Income$3.49B
EPS (Basic)$5.06
EPS (Diluted)$5.02
Shares Outstanding (Basic)683.30M
Shares Outstanding (Diluted)689.50M

Key Highlights

  • 1Record revenues of $35.6 billion and net income of $3.5 billion in fiscal year 2024.
  • 2Adjusted EBITDA increased to $6.9 billion, with an improved margin of 19.5%, reflecting strong operational performance.
  • 3Invested $5.0 billion in strategic acquisitions during 2024, enhancing market positions and expanding offerings.
  • 4North American operations continue to be a key driver of growth, supported by infrastructure spending and re-industrialization.
  • 5Continued focus on sustainability initiatives, with $14.6 billion in revenues from products with enhanced sustainability attributes.
  • 6Returned $1.7 billion to shareholders via dividends and $1.3 billion through share repurchases in 2024.
  • 7Maintained a strong and flexible balance sheet with $3.8 billion in cash and cash equivalents and restricted cash at year-end.

Frequently Asked Questions

CRH reported record total revenues of $35.6 billion, an increase of 2% from 2023. Net income rose to $3.5 billion, and Adjusted EBITDA increased to $6.9 billion, resulting in an improved Adjusted EBITDA margin of 19.5%. Basic Earnings Per Share (EPS) from continuing operations was $5.06.

CRH completed 40 acquisitions in 2024 for a total consideration of $5.0 billion, significantly higher than the $0.7 billion in 2023. Major acquisitions included a portfolio of cement and readymixed concrete operations in Texas and a majority stake in Australia's Adbri Ltd. These acquisitions are expected to drive further growth and value creation by expanding market reach and integrating new capabilities.

CRH expects positive underlying demand across its key end-use markets in 2025, driven by significant public investment in critical infrastructure and increased re-industrialization activity. The company anticipates this backdrop to support overall demand levels and lead to further positive pricing across its businesses.

Sustainability is deeply embedded in CRH's business, with a focus on water, circularity, and decarbonization. The company is accelerating investment in innovation through its $250 million Venturing and Innovation Fund and CRH Ventures platform to develop new technologies and sustainable solutions. In 2024, revenues from products with enhanced sustainability attributes increased by 5% to $14.6 billion.