Crh Plc · NYSE:CRH
Crh — FY2024 Earnings Presentation
36 slides from Crh's earnings presentation, Feb 27, 2025
Slide 1: 2024 Full Year Results
2024 Full Year Results 2024 Full Year Results 0
Slide 2: Disclaimer
Disclaimer Unless the context otherwise provides, “we,” “us,” “our,” “CRH”, the “Company” and like terms refer to CRH plc and its consolidated subsidiaries. Forward-Looking Statements In order to utilize the “Safe Harbor” provisions of the United States Private Securities Litigation Reform Act of 19
Slide 3: Agenda
Agenda Operating Performance Financial Performance Capital Allocation Industry-Leading Performance & Growth Outlook 2024 Full Year Results 2
Slide 4: Industry-Leading Performance
Industry-Leading Performance The leading provider Best-in-class Disciplined Uniquely of building materials operators … approach to connected solutions … relentless focus capital allocation portfolio … customer-connected on performance … focused on building market strategy with with purpose & higher-
Slide 5: FY 2024 Financial Highlights
FY 2024 Financial Highlights Differentiated strategy delivering industry-leading performance Return on Revenues Adj. EBITDA¹ Margin¹ EPS¹ Net Assets¹ $35.6bn $6.9bn 19.5% $5.48 15.5% (Q4: $8.9bn) (Q4: $1.8bn) (Q4: 20.0%) (Q4: $1.45) +2% +12% +180bps +18% +20bps (Q4: +2%) (Q4: +12%) (Q4: +170bps) (Q4
Slide 6: Operating Performance
Operating Performance 2024 Full Year Results 5
Slide 7: Americas Materials Solutions
Americas Materials Solutions • Strong profit growth & further margin expansion FY 2024 • Pricing progress & operational efficiencies $m Change Revenues 16,173 +5% • Demand supported by infrastructure Adj. EBITDA 3,745 +22% & re-industrialization activity Margin 23.2% +340bps • Positive outlook with
Slide 8: Americas Building Solutions
Americas Building Solutions • Resilient performance against a strong prior year comparative FY 2024 • Unfavorable weather & subdued new-build Residential $m Change demand impacting profitability Revenues 7,059 +1% • Building & Infrastructure Solutions: Supportive demand Adj. EBITDA 1,389 -4% across
Slide 9: International Solutions
International Solutions • Further growth in profit & margin FY 2024 • Continued pricing momentum & disciplined cost control $m Change • Central & Eastern Europe: Positive momentum across Revenues 12,340 -1% key end-markets Adj. EBITDA 1,796 +7% • Western Europe: Subdued but stabilizing new-build Mar
Slide 10: Financial Performance
Financial Performance 2024 Full Year Results 9
Slide 11: Robust Double-Digit Growth
Robust Double-Digit Growth Organic growth driven by positive pricing, operational efficiency & cost control Q4'24 FY'24 +12% +12% $37m -$1m $142m $9m $603m $154m +10% +10% $1,776m $6,930m $1,586m $6,176m Q4 23 Organic¹ Acquisitions / Currency Q4 24 FY 23 Organic¹ Acquisitions / Currency FY 24 Adjust
Slide 12: Strong & Flexible Balance Sheet
Strong & Flexible Balance Sheet Significant financial capacity to support future growth & value creation 1.5x Net Debt / Adj. EBITDA¹ $3.0bn $2.6bn $10.5bn $5.4bn $5.0bn $4.5bn FY23 Cash Net M&A / Dividends / FY24 Capex Net Debt¹ Inflow Other Buybacks Net Debt¹ 2024 Full Year Results 11 1Represents
Slide 13: Capital Allocation
Capital Allocation 2024 Full Year Results 12
Slide 14: Capital Allocation Priorities
Capital Allocation Priorities Strong & Flexible Balance Sheet … … Delivering Growth & Value Creation in 2024 Up to $3.8bn $5bn+ ~$16bn Run-rate Net M&A Dividends M&A $1.7bn ~70% ~$35bn ~30% ~$8bn Dividend Growth 2024-2028 Cash capital Investments financial Returns allocated capacity ~$6bn Run-rate i
Slide 15: Investing for Growth – M&A in 2024
Investing for Growth – M&A in 2024 Enabled by unmatched scale, breadth & financial capacity $5.0bn Essential Materials Road Solutions Critical Infrastructure Outdoor Living invested across 40 deals ~75% ~25% N. America International Strengthening market-leading positions Aligning with secular growth
Slide 16: Investing for Growth – Accelerating Growth Capex
Investing for Growth – Accelerating Growth Capex Capitalizing on attractive organic growth opportunities Expanding capacity in Production efficiencies, $1.1bn existing high-growth markets Driving innovation & automation & energy optimization Increasing circularity & invested in 2024 product developm
Slide 17: Industry-Leading Performance & Growth
Industry- Leading Performance & Growth 2024 Full Year Results 16
Slide 18: A Differentiated Strategy with Unmatched Scale
A Differentiated Strategy with Unmatched Scale Uniquely integrated & customer-connected across the value-chain Secular growth tailwinds Attractive markets Leading positions of scale1 ~2,000 Americas locations #1 Building Materials #1 Aggregates #1Company Building in North Materials North America Ame
Slide 19: Consistent Delivery Through the Cycle
Consistent Delivery Through the Cycle 1 1,3 1,3 1,3 Revenues Adj. EBITDA Margin EPS (10y CAGR2) (10y CAGR2) (10y Change) (10y CAGR2) +8% +15% +920bps +17% $5.48 $35.6bn $6.9bn 19.5% 10.3% $16.5bn $1.7bn $1.14 2014 2024 2014 2024 2014 2024 2014 2024 1Metrics based on IFRS financial reporting for 2014
Slide 20: Sector Outperformance in 2024
Sector Outperformance in 2024 Revenue Adj. EBITDA1 (Change 2023 - 2024) (Change 2023 - 2024) +2% +12% -1% +5% -3% +1% US Peer Global US Peer Global 2 2 2 2 Avg. Peer Avg. Avg. Peer Avg. Adj. EBITDA Margin1 EPS1 (Change 2023 - 2024) (Change 2023 - 2024) +180 bps +18% +13% +110 bps +90 bps +5% US Peer
Slide 21: The Leading Compounder of Capital in the Industry
The Leading Compounder of Capital in the Industry Over the Last Year Over the Last 5 Years Over the Last 10 Years 2023-2024 TSR1 2019-2024 TSR1 2014-2024 TSR1 35.9% 21.5% 17.5% 15.4% 16.6% 13.2% 13.4% 14.4% 3.8% US Global US Global US Global Peer Peer Peer Peer Peer Peer Avg. Avg. Avg. Avg. Avg. Avg
Slide 22: Outlook
Outlook
Slide 23: 2025 End-Market Outlook
2025 End-Market Outlook Favorable underlying demand & positive pricing momentum Americas¹ International¹ ~75% Adj. EBITDA² ~25% Adj. EBITDA² Infrastructure Continued rollout of once-in-a-generation Infrastructure Robust demand underpinned by ~40% Revenues US federal & state investment ~35% Revenues
Slide 24: 2025 Guidance
2025 Guidance Another year of growth & value creation Adj. EBITDA¹ Net Income² Diluted EPS² $7.3bn – $7.7bn $3.7bn – $4.1bn $5.34 – $5.80 The 2025 guidance does not assume any significant one-off or non-recurring items, including the impact of potential tariffs, impairments or other unforeseen event
Slide 25: Appendix
Appendix
Slide 26: Americas Materials Solutions
Americas Materials Solutions Analysis of change $ million Q4 2023 Currency Acquisitions Divestitures Organic Q4 2024 % Change Total revenues 4,296 (10) +215 (34) (201) 4,266 (1%) Adjusted EBITDA 875 (3) +52 (14) +143 1,053 +20% Adjusted EBITDA margin 20.4% 24.7% Analysis of change $ million FY 2023
Slide 27: Americas Building Solutions
Americas Building Solutions Analysis of change $ million Q4 2023 Currency Acquisitions Divestitures Organic Q4 2024 % Change Total revenues 1,470 - +49 - (26) 1,493 +2% Adjusted EBITDA 276 (1) +6 - (31) 250 (9%) Adjusted EBITDA margin 18.8% 16.7% Analysis of change $ million FY 2023 Currency Acquisi
Slide 28: International Solutions
International Solutions Analysis of change $ million Q4 2023 Currency Acquisitions Divestitures Organic Q4 2024 % Change Total revenues 2,919 +16 +371 (160) (35) 3,111 +7% Adjusted EBITDA 435 +3 +35 (42) +42 473 +9% Adjusted EBITDA margin 14.9% 15.2% Analysis of change $ million FY 2023 Currency Acq
Slide 29: Materials Volumes & Prices
Materials Volumes & Prices Q4 YoY % Change FY YoY % Change Americas International Americas International Volume Price Volume Price Volume Price Volume Price Aggregates -9% +7% +15% +6% -3% +10% +3% +4% Asphalt -8% +3% +8% -4% -2% +3% -2% -1% Cement +3% +8% +18% +4% +1% +8% +5% +3% RMC - +3% +26% +7%
Slide 30: 2025 Financial Guidance
2025 Financial Guidance 2025 Guidance (i) Low High Net income (ii) $3.7bn $4.1bn Adj. EBITDA* $7.3bn $7.7bn Diluted EPS (ii) $5.34 $5.80 Capital expenditure $2.8bn $3.0bn (i) The 2025 guidance does not assume any significant one-off or non-recurring items, including the impact of potential tariffs,
Slide 31: Innovation and Sustainability – Another Year of Progress
Innovation and Sustainability – Another Year of Progress Revenue from products with enhanced sustainability attributes1 ($bn) 9.4 11.4 12.6 13.9 14.6 #1 The largest recycler 44.7 m tonnes wastes and by-products recycled in North America (2023: 43.9mt) 2020 2021 2022 2023 2024 CO2e emissions per doll
Slide 32: Source Data - Consistent Delivery Through the Cycle
Source Data - Consistent Delivery Through the Cycle in millions, except per share data € $ 2014 Revenue (i) 18,912 Less: Revenue from divested businesses Europe Distribution (i) (3,999) Americas Distribution (i) (1,776) Building Envelope (ii) (739) 12,398 2014 IFRS Revenue adjusted for divested busi
Slide 33: Non-GAAP Reconciliations
Non-GAAP Reconciliations CRH uses a number of non-GAAP performance measures to monitor financial performance. These measures are referred to throughout the discussion of our reported financial position and operating performance on a continuing operations basis unless otherwise defined and are measur
Slide 34: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted EBITDA (continued): Adjusted EBITDA is not defined by GAAP and should not be considered as an alternative to earnings measures defined by GAAP. Reconciliation to its nearest GAAP measure for the mid-point of the 2025 Adjusted EBITDA guidance is presented below: in $
Slide 35: Non-GAAP Reconciliations
Non-GAAP Reconciliations Basic EPS pre-impairment: Basic EPS pre-impairment is a measure of the Company's profitability per share from continuing operations excluding any loss on impairments (which is non-cash) and the related tax impact of such impairments. It is used by management to evaluate the
Slide 36: Non-GAAP Reconciliations
Non-GAAP Reconciliations Return on Net Assets (RONA): Return on Net Assets is a key internal pre-tax and pre-impairment (which is non-cash) measure of operating performance throughout the Company and can be used by management and investors to measure the relative use of assets between CRH’s segments