Slide 1: 2001 Interim Results, 4 September, 2001
2001 Interim Results, 4 September, 2001 Liam O'Mahony, Chief Executive Harry Sheridan, Finance Director 1
Slide 2: H1 Highlights
H1 HIGHLIGHTS Sales € 4,496m + 23% Before goodwill After goodwill 2001 Interim Results, 4 September, 2001 amortisation amortisation Trading profit € 308m + 11% € 281m + 8% Profit before tax € 213m + 8% € 186m + 3% Earnings per share 32.91c - 3% * 27.36c - 8% * Cash earnings per share 75.75c + 8%* Di
Slide 3: H1 Overview
H1 OVERVIEW l Geographic balance & sectoral spread underpins performance l Ireland: slower pace of growth, accentuated by Foot & Mouth prevention 2001 Interim Results, 4 September, 2001 l UK: housing weak, brick price increases sustained l Europe: mixed trading, €6m rationalisation costs in Germany/
Slide 4: Republic of Ireland
REPUBLIC OF IRELAND Exchange Acquisitions Disposals Organic 2001 H1 Sales €338m + 11% + €32m - + €8m - + €24m EBIT* € 80m + 36% + €21m - + €2m + €13m + € 6m EBIT margin 23.7% (2000: 19.3%); excl. disposals 19.4% (2000: 18.7%) *after goodwill amortisation nil (2000: nil) & including profit on disposa
Slide 5: Britain & Northern Ireland
BRITAIN & NORTHERN IRELAND Exchange Acquisitions Discontinued Organic 2001 H1 Ops Sales €336m - 5% - €18m - €6m + €10m - €15m - €7m EBIT* € 32m - 2% - € 1m - €1m + € 1m - - €1m EBIT margin 9.5% (2000: 9.3%) *after goodwill amortisation €2.7m (2000: €2.5m) & including profit on disposals nil (2000: €
Slide 6: Mainland Europe
MAINLAND EUROPE Exchange Acquisitions Disposals Rational- Organic 2001 H1 2000 2001 isation Sales €1,242m + 34% + €316m + €13m + €282m + €18m - - + € 3m EBIT* € 59m - 17% - € 12m + € 2m + € 10m + € 2m - €6m - €6m - €14m EBIT margin 4.8% (2000: 7.7%); excl. disposals 5.1% (2000: 7.6%) *after goodwill
Slide 7: Mainland Europe 2001 Outlook
MAINLAND EUROPE 2001 Outlook l Euroconstruct forecasts: è Belgium + 0.8% Finland + 2.0% France + 2.1% 2001 Interim Results, 4 September, 2001 è Germany - 2.3% Netherlands + 0.2% Poland + 4.0% è Portugal + 2.7% Spain + 5.5% Switzerland + 1.8% l CRH's perspective less positive, particularly Germany an
Slide 8: Americas - Materials
AMERICAS - MATERIALS Exchange Acquisitions Organic 2001 H1 2000 2001 Sales €1,032m + 22% + €188m + €59m + €56m + €48m + €25m EBIT* - € 15m n/m + € 4m - € 1m - €15m + € 5m + €15m EBIT margin -1.5% (2000: -2.3%) *after goodwill amortisation €7.2m (2000: €4.7m) & including profit on disposals €2.2m (20
Slide 9: Americas - Products & Distribution
AMERICAS - PRODUCTS & DISTRIBUTION Exchange Acquisitions Organic 2001 H1 2000 2001 Sales €1,548m + 27% + €332m + €84m + €195m + €33m + €20m EBIT* € 125m + 7% + € 8m + € 8m + € 11m + € 6m - €17m EBIT margin 8.1% (2000: 9.6%) *after goodwill amortisation €5.5m (2000: €1.8m) & including profit on dispo
Slide 10: Americas - Outlook
AMERICAS - OUTLOOK 2001 Outlook l Construction forecasts in range -1% to -2% l Despite economic uncertainty, overall activity reasonably steady l Materials 2001 Interim Results, 4 September, 2001 è Positive TEA-21 impact, though regional variations è Good backlogs going into H2 è Energy / bitumen co
Slide 11: 2001 Development Spend
2001 DEVELOPMENT SPEND €m Mount Hope Rock Products 154 H1 Strategy Update (20+ deals) 294 2001 Interim Results, 4 September, 2001 Total H1 448 Announced since 30/6/01: · Hallet Materials & Des Moines Asphalt 83 · Investment in Mashav 54 Total 2001 to date 585 11
Slide 12: H1 2001 Components of Growth
H1 2001 COMPONENTS OF GROWTH Goodwill €m Sales EBITA Amortisation Interest EBT H1 2000 3,646 279 (18) (81) 180 Exchange effects 150 9 (1) (4) 4 Disposed businesses (15) - - - - 2001 Interim Results, 4 September, 2001 2000 acquisitions 550 16 (7) (31) (22) 2001 acquisitions 100 14 (1) (6) 7 Share iss
Slide 13: Cash Earnings per Share & Dividend
CASH EARNINGS PER SHARE & DIVIDEND cent % Earnings per share before goodwill amortisation 32.91 - 3 2001 Interim Results, 4 September, 2001 Depreciation per share 42.84 +19 Cash earnings per share 75.75 + 8 Dividend per share 6.75 +11 13
Slide 14: H1 Funds Flow
H1 FUNDS FLOW 2001 2000 €m €m Inflows PBT 186 180 Depreciation 209 155 Goodwill amortisation 27 18 2001 Interim Results, 4 September, 2001 Share issues (net of expenses) 1,090 22 1,512 375 Outflows Working capital (362) (303) Tax paid (13) (49) Dividends (68) (56) Capital expenditure (247) (222) Acq
Slide 15: Key Financial Data and Ratios
KEY FINANCIAL DATA AND RATIOS H1 Y/E H1 2000 2000 2001 2,905 2,620 Debt (€m) 2,469 2001 Interim Results, 4 September, 2001 2,430 3,128 Shareholders' funds* (€m) 4,552 119.5 83.8 Debt/Shareholders' funds* (%) 54.2 *reflects €363m pre-1999 goodwill written-off directly against reserves Interest cover
Slide 16: Summary
SUMMARY l Good H1 performance in context of: è Difficult trading conditions in many markets è First-time inclusion of seasonal US winter losses è € 5.9m European rationalisation costs 2001 Interim Results, 4 September, 2001 l Challenging full year outlook, but supported by: è Balanced spread of US /
Slide 17: 2001 Interim Results, 4 September, 2001
2001 Interim Results, 4 September, 2001 Liam O'Mahony, Chief Executive Harry Sheridan, Finance Director 17