Breedon records revenues of GBP929.6m in 2019

Breedon records revenues of GBP929.6m in 2019
11 March 2020

Breedon Group Plc has released its 2019 results that saw revenues reach GBP929.6m, up eight per cent on GBP862.7m in 2018. EBITDA totalled GBP116.6m, up 13 per cent on EBITDA of GBP103.5m in 2018. Net debt came in at GBP290.3m, down from GBP310.7m in 2018.

Cement sales remained stable at 2Mt sold in 2019 when compared with the previous year, but 20.2Mt of aggregates were sold, up from 19.4Mt YoY. Asphalt sales also claimed from 2.8Mt in 2018 to 3Mt last year, while ready-mix concrete sales fell to 2Mm3 from 3.2Mm3 in 2018.

Pat Ward, group CEO, said: "We close 2019 with a strong result, in line with the markets expectations, reflecting an excellent performance from our businesses in some challenging market conditions.

"Breedon is in excellent shape. We have a well-established business extending throughout GB and Ireland, having delivered great results irrespective of market conditions. We have and outstanding team of colleagues and, following the acquisition of Cemex asset portfolio, we will have the backing of more than billion tonnes of valuable mineral resources, together with two well-invested cement plants.

"After 10 years of successful and profitable growth, we have a clear strategy for the coming years, built on a clear market philosophy, strong performance, a healthy culture and a firm commitment to playing our part in alleviating the impact of climate change and delivering a sustainable future. I am confident that we will make further progress in 2020 and beyond."

Published under Cement News