CRH reports 7% sales growth in 1Q23

CRH reports 7% sales growth in 1Q23
26 April 2023

CRH has reported a “positive start” to the year with 1Q23 sales up seven per cent YoY across the group. Americas Materials Solutions saw a 10 per cent advance in sales in the 1Q23, compared to the same period in 2022, driven by robust pricing which more than offset the impact of unfavourable weather during the quarter. Essential Materials saw a 15 per cent improvement in sales YoY, while Road Solutions recorded a seven per cent uptick YoY, supported by strong price progression and good underlying demand in the Northeast and Great Lakes.

Americas Building Solutions saw sales improve 22 per cent YoY in the 1Q23, backed by good pricing progress and resilient underlying demand, according to the company. Sales were up 30 per cent in Outdoor Living Solutions, while Building & Infrastructure Solutions saw sales expand by nine per cent YoY as a slower start to the construction season due to poor weather was offset by contributions from 2022 acquisitions. 

Europe Materials Solutions saw YoY sales dip one per cent in the 1Q23 due to poor weather and unfavourable currency translation effects. Strong pricing kept Essential Materials five per cent ahead YoY, despite lower demand in Ukraine and the Philippines. Strong pricing also helped to offset lower activity levels in Road Solutions.

In Europe Building Solutions, 1Q23 sales were one per cent lower YoY, reflecting a slower start to the year. A prolonged winter meant sales fell six per cent YoY in Outdoor Living Solutions, while good underlying demand kept sales stable YoY in Building & Infrastructure Solutions. 

“We had a positive start to the year in a seasonally quiet trading period. While some adverse weather conditions were experienced in Q1, sales and EBITDA were ahead, underpinned by the continued execution of our integrated solutions strategy and further commercial progress across our markets. Looking ahead, despite some ongoing macroeconomic uncertainties and an inflationary cost environment, we expect first-half sales, EBITDA and margin to be ahead of the prior year period,” said Albert Manifold, chief executive, CRH. 

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Tagged Under: CRH Ireland Western Europe Results