Tear Sheet: CRH PLC

This report does not constitute a rating action. CRH posted a strong operating performance in 2024. Reported sales increased by 2% to $35.6 billion (2023: $34.9 billion), mainly driven by strong underlying demand in key markets, positive pricing, commercial progress, and contributions from acquisitions. CRH also posted an S&P Global Ratings-adjusted EBITDA of about $7.1 billion, with a margin improvement to 19.9%, driven by strong pricing mainly in materials (cement and aggregates), integrated solutions strategy, and operational efficiency. For 2025, we expect CRH will benefit from an increase in infrastructure activity, particularly in North America, underpinned by federal and state funding initiates, along with the onshoring of manufacturing activities. We expect a limited direct effect from U.S. tariffs due to

...May 7, 2025 This report does not constitute a rating action. We forecast that CRH PLC will continue to post solid results in 2025 despite the challenging macroenvironment. CRH posted a strong operating performance in 2024. Reported sales increased by 2% to $35.6 billion (2023: $34.9 billion), mainly driven by strong underlying demand in key markets, positive pricing, commercial progress, and contributions from acquisitions. CRH also posted an S&P Global Ratings-adjusted EBITDA of about $7.1 billion, with a margin improvement to 19.9%, driven by strong pricing mainly in materials (cement and aggregates), integrated solutions strategy, and operational efficiency. For 2025, we expect CRH will benefit from an increase in infrastructure activity, particularly in North America, underpinned by federal and state funding initiates, along with the onshoring of manufacturing activities. We expect a limited direct effect from U.S. tariffs due to CRH's local-for-local strategy and ownership of material...

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