CRH earnings expected to exceed €3bn for 2016
In its latest trading update, building materials group CRH reports global sales have risen 22 percent year-on-year to €20.4bn between January and September of this year.
The company say said third quarter trading benefited from continued growth in the Americas, albeit at a more modest pace than in the first half of the year – which had benefited from favourable early season weather.
Its European trading remained positive in the last quarter and the company expects Europeean earnings before interest, tax, depreciation and amortization (EBITDA) for 2016 to be in excess of €1 billion.
EBITDA was €2.4 billion for the first nine months of the year. This is an increase of 14% on a pro-forma basis when compared with the same period last year.
Full year earnings
The building materials group said it expects full year earnings before accounting for tax, depreciation and interest on debt to be 35% higher than last year, at more than €3 billion.
Its revenue for 2015 was €23.64bn, with a net income of €729million and operating income of €1.378 billion for 2015.