CRH plc 2016 results - year ended 31st December 2016
01 March 2017
|Year ended 31 December ||2016 |
|Sales revenue || 27,104 ||23,635 ||+15% |
|EBITDA ||3,130 ||2,219 ||+41% ||+10% |
|9.4% ||+210bps || +60bps |
|Operating profit (EBIT) |
|Profit before tax |
|+69% || |
| ||€ cent ||€ cent || || |
|Basic earnings per share ||150.2 |
|89.1 || +69% || |
|Dividend per share |
|62.5 ||+4% |
Albert Manifold, Chief Executive, said today:
“2016 was a year of significant profit growth for CRH, with margins and returns ahead of last year in every division. We benefited from positive momentum in the Americas, and also in Europe, particularly in the Northern and Eastern regions where we operate. The focus on cash management resulted in our year-end debt metrics being ahead of target and below normalised levels. In addition to organic growth, we continue to develop CRH through acquisitions, having completed eight transactions already this year. With our balanced portfolio of businesses, CRH is well positioned to capitalise on the ongoing economic recovery and we see continued growth for the Group in 2017.”
- Continued profit growth
- Margins and returns ahead in all divisions
- Strong cash generation; de-leveraging target exceeded and balance sheet restored
- Dividend increased
- Sales of €27.1 billion, 15% ahead of 2015; up 4% on a proforma1 basis
- EBITDA up 41% to €3.1 billion, ahead of November guidance; proforma EBITDA up 10%
- EBITDA margin 11.5% up from 9.4% in 2015
- Cash inflow of €2.3 billion from operating activities
- Return on net assets (RONA1) 9.7% up from 7.6% in 2015
- Delivering value through capital allocation and reallocation at attractive multiples
- Year-end net debt reduced by €1.3 billion to €5.3 billion; Net debt/EBITDA is 1.7x
- Full year dividend per share increased by 4% to 65.0c, covered 2.3 times
Announced Wednesday, 1 March 2017
In order to utilise the “Safe Harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, CRH public limited company (the “Company”), and its subsidiaries (collectively, “CRH” or the “Group”) is providing the following cautionary statement.
This document contains certain forward-looking statements with respect to the financial condition, results of operations, business, viability and future performance of CRH and certain of the plans and objectives of CRH. These forward-looking statements may generally, but not always, be identified by the use of words such as "will", "anticipates", "should", "expects", "is expected to", "estimates", "believes", "intends" or similar expressions.
By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that may or may not occur in the future and reflect the Company's current expectations and assumptions as to such future events and circumstances that may not prove accurate.
A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, certain of which are beyond our control, as detailed in the section entitled “Risk Factors” in our 2015 Annual Report and on Form 20-F as filed with the US Securities and Exchange Commission.
You should not place undue reliance on any forward-looking statements. These forward-looking statements are made as of the date of this document. The Company expressly disclaims any obligation to update these forward-looking statements other than as required by law.
CRH will host a webcast and conference call at 8.30am GMT, 1 March 2017, to discuss this announcement. Registration details can be found on the Results Centre section of the website http://crh.com/investors/results-centre.
|Contact CRH at Dublin 404 1000 (+353 1 404 1000) |
|Albert Manifold ||Chief Executive |
|Senan Murphy ||Finance Director |
|Frank Heisterkamp ||Head of Investor Relations |
|Mark Cahalane ||Group Director, Corporate Affairs |
View the full release (PDF, 4572 KB, opens in a new window).