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Overview of CRH plc
CRH plc, headquartered in Dublin, Ireland, is a globally diversified group specializing in the manufacturing and supply of building materials for the construction industry. With a vertically integrated business model, CRH manages operations across the entire supply chain, from raw material extraction to the production of finished construction products. This integration enables the company to optimize costs, maintain quality control, and ensure a steady supply of essential materials for its customers.
Core Business Segments
CRH operates across three primary business segments:
- Aggregates and Cement: These upstream activities form the backbone of CRH’s operations. The company is the largest producer of aggregates and asphalt in the United States, a position that underscores its dominance in the North American market. Aggregates and cement are foundational materials used in infrastructure projects, commercial buildings, and residential construction.
- Asphalt and Ready-Mix Concrete: CRH supplies asphalt and ready-mix concrete, catering to a wide range of construction needs. These materials are critical for road construction, bridges, and other infrastructure projects.
- Building Products: The company manufactures a diverse range of products, including precast concrete, architectural products, and fencing solutions, which are used in both residential and commercial construction.
Geographic Footprint
CRH’s operations are concentrated in developed markets, with North America being its largest and most significant region. Approximately 75% of the company’s EBITDA is derived from its activities in the United States, where it plays a pivotal role in the construction materials sector. The company also has a strong presence in Europe, further diversifying its geographic exposure and reducing reliance on any single market.
Competitive Position and Differentiation
CRH’s vertical integration is a key differentiator in the competitive building materials industry. By controlling the supply chain from raw materials to finished products, the company achieves cost efficiencies and operational resilience. Its scale and leadership in key markets, such as aggregates and asphalt in the U.S., provide it with a significant competitive edge. Additionally, CRH’s diversified product portfolio and geographic reach allow it to adapt to varying market demands and mitigate risks associated with regional economic fluctuations.
Challenges and Industry Context
The building materials industry is subject to several challenges, including fluctuating raw material costs, regulatory compliance, and competition from other major players like LafargeHolcim and Heidelberg Materials. CRH’s focus on developed markets helps it navigate these challenges by leveraging stable economic environments and robust infrastructure spending. However, the company must continuously innovate and optimize its operations to maintain its competitive position.
Significance in the Industry
CRH is a cornerstone of the global construction materials industry, providing essential products that underpin infrastructure development and urbanization. Its leadership in aggregates and asphalt, combined with its vertically integrated model, positions it as a critical supplier to both public and private construction projects. This strategic positioning ensures that CRH remains a vital contributor to the construction and infrastructure sectors worldwide.
CRH plc has announced the filing of its 2024 Annual Report on Form 10-K with the U.S. Securities and Exchange Commission (SEC). The report, covering the fiscal year ended December 31, 2024, is now accessible on both the SEC's website and CRH's corporate website.
The report has been submitted to the U.K. National Storage Mechanism and will be available for inspection through their online platform. Shareholders can request physical copies of the complete audited financial statements free of charge by contacting the Company Secretary's office via email or regular mail. Physical copies are scheduled to be mailed to requesting shareholders around March 28, 2025.
CRH (NYSE: CRH) has completed its latest share buyback phase, repurchasing 3.0 million ordinary shares and returning $0.3 billion to shareholders between November 2024 and February 2025. This brings the total cash returned under the program to $8.5 billion since May 2018.
The company has announced a new arrangement with TD Securities for an additional $0.3 billion share buyback program, running from February 27 to May 2, 2025. The new program allows for up to 45 million ordinary shares to be acquired and cancelled, with TD Securities making independent trading decisions within preset parameters.
The buyback will be conducted in compliance with U.S. Securities Exchange Act rules and EU Market Abuse Regulation, exclusively through U.S. markets.
CRH reported strong financial results for Q4 and full year 2024, with total revenues reaching $35.6 billion, up 2% from 2023. Net income increased 15% to $3.5 billion, while Adjusted EBITDA grew 12% to $6.9 billion. The company completed 40 acquisitions for $5.0 billion, including major investments in Texas cement operations ($2.1 billion) and Australia's Adbri.
Q4 2024 performance showed revenue of $8.9 billion (+2% YoY) and net income of $0.7 billion (+24% YoY). The company maintained strong margins, with Q4 net income margin at 8.0% and Adjusted EBITDA margin at 20.0%.
CRH returned $3 billion to shareholders through dividends and buybacks, including a 5% dividend increase to $1.40 per share. The company announced a new quarterly dividend of $0.37 per share (+6% annualized) and completed a $1.3 billion share buyback program, with an additional $0.3 billion tranche planned.
Oldcastle APG, North America's leading outdoor living solutions provider, will showcase its latest innovations at the 2025 NAHB International Builders' Show in Las Vegas from February 25-27. The company is introducing Catalyst Fence Solutions, its new flagship fence brand offering vinyl, molded, aluminum, steel, and mixed material products.
The company will display its comprehensive portfolio spanning six categories: Outdoor Flooring, Shade, Security & Privacy, Landscaping, Backyard Features, Set, Seal & Repair, and Wall Surfaces. Featured brands include MoistureShield Decking & Railing, Belgard Hardscapes, Catalyst Fence Solutions, RDI Railing, Elements Home, and PebbleTec Pool Finishes.
Key product highlights include InstaDeck's snap-together system, Meridian composite deck's new Shoal colorway, Stratos Composite Enhanced PVC Decking, and Belgard's Artforms modular concrete panel system.
Oldcastle APG, a CRH Company, has acquired two Gardenscape bagging facilities in Archbold, Ohio and Emlenton, Pennsylvania. The acquisition strengthens Oldcastle APG's Lawn & Garden business capabilities in the Midwest and East Coast regions. The facilities, acquired from Gardenscape, a wholesale supplier of bulk and bagged mulches and soils, will be integrated into Oldcastle APG's existing operations.
This strategic move complements Oldcastle APG's recent acquisitions in the Southeastern, Mid-Atlantic, and Mountain West regions, enhancing service levels and expanding customer reach. The acquisition aligns with the company's mission to provide end-to-end outdoor living solutions and help people 'Live Well Outside.'
CRH (NYSE: CRH), the leading provider of building materials solutions, has announced it will release its fourth quarter and full year 2024 financial results after the U.S. market closes on Wednesday, February 26, 2025. The company will host a conference call and webcast presentation the following day, Thursday, February 27, 2025, at 8:00 a.m. EST.
The results and presentation materials will be accessible at www.crh.com/investors/results-presentations. Interested parties can register for the event at www.crh.com/investors, where they will receive access to the call link and dial-in information. A replay of the webcast will be available on the company's website.
Sakrete and Amerimix, both brands under Oldcastle APG, will showcase their latest product innovations at World of Concrete from January 21-23, 2025, in Las Vegas. The companies will host an interactive booth (S10827) in the South Hall, featuring Sakrete's concrete products and Amerimix's pre-blended mortars, stuccos, and grouts.
The booth will combine educational experiences, including guidance on selecting concrete mixes and improving jobsite efficiency, with interactive challenges like the 'Perfect Mix Challenge' and 'Know Your Mix' competition. Visitors can earn tokens to play Sakrete Slots for prizes. Additionally, Sakrete is sponsoring the World of Concrete Beer Garden in Central Hall, where attendees can watch the new season of Concrete Combat, a concrete competition reality series.
Oldcastle APG, a CRH company, has launched Catalyst Fence Solutions, its new flagship fence brand that consolidates multiple industry-leading brands including Barrette Outdoor Living, National Vinyl Products, Alumi-Guard, and others. The brand becomes North America's largest provider of high-performance vinyl, molded, aluminum, steel, and mixed material fencing products.
Catalyst leverages 25+ years of manufacturing experience and combines exclusive patented technologies to deliver durable fencing solutions for both residential and commercial applications. The products come with dedicated customer support and various warranty options, including a transferable lifetime warranty.
This strategic launch aligns with Oldcastle APG's broader initiative to refresh its branding and product categorization around outdoor living spaces. Catalyst joins other premium brands in the company's portfolio like MoistureShield, Sakrete, RDI Railing, and Belgard.
Sakrete, a brand under Oldcastle APG, launches season 2 of its reality competition show Concrete Combat on Roku TV. The show features eight professional contracting teams competing for a $10,000 prize and a chance to attend World of Concrete 2025 in Las Vegas. The new season consists of six episodes with various challenges using Sakrete concrete materials and Belgard hardscapes products. Projects include overlay paver work, outdoor kitchen construction, and a 'Skatepark Showdown' challenge. Returning champions Concrete Mike compete alongside other teams, with judges Mike Day, Jose Garcia, and Pat McClain returning to evaluate the contestants. The show is available on Roku TV and Sakrete's YouTube channel.
CRH has appointed Alan Connolly as Interim Chief Financial Officer effective January 1, 2025, following the previously announced transition of current CFO Jim Mintern to CEO role. Connolly, a Chartered Accountant with over 30 years of finance experience at CRH, has served in various senior finance positions including Director of Strategic Finance, Finance and Performance Director of Europe Materials, CFO of Global Building Products, and Director of Group Finance. The company is conducting a comprehensive search process for a permanent CFO successor, considering both internal and external candidates.
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