Crh Plc Stock Price, News & Analysis

CRH PLC Trading Update - April 2021

CRH PLC reported a positive start to 2021 with a 3% increase in Q1 like-for-like sales. Key highlights include a strong demand and pricing across markets, $0.2 billion in acquisitions, and a completed $0.2 billion divestment of its Brazil cement business. The ongoing share buyback program aims to return $0.3 billion to shareholders by June. The company expects H1 EBITDA to be significantly higher than the previous year due to COVID-19 disruptions. The outlook remains optimistic despite near-term uncertainties.

CRH plc has published the Notice of its 2021 Annual General Meeting along with the Form of Proxy, which shareholders can view on the company's website. The documents have been submitted to the U.K. National Storage Mechanism and Euronext Dublin, where they will soon be available for inspection. Shareholders can expect to receive the documents by March 31, 2021. For further inquiries, Neil Colgan, the Company Secretary, can be contacted.

CRH plc announced the appointment of Caroline Dowling as a non-executive Director, effective March 22, 2021. With extensive operational experience, including a previous role as Business Group President at Flex, Dowling is expected to enhance the Board's strategic direction. Her experience spans global technology operations, making her insights valuable as CRH aims to drive shareholder value. The company continues to be a major player in the building materials sector worldwide.

CRH plc has announced the appointment of Jim Mintern as the new Group Finance Director, effective June 1, 2021, succeeding Senan Murphy. Jim, a Chartered Accountant, brings over 30 years of experience in the building materials industry, including nearly 20 years at CRH. He has held various senior roles, including Country Manager for Ireland and Chief of Staff to the CEO. Albert Manifold, Group Chief Executive, expressed confidence in Jim's financial and industry expertise at a critical time for the Group.

CRH plc has released its 2020 Annual Report and filed Form 20-F, which is now available online. The report is also submitted to the U.K. National Storage Mechanism and Euronext Dublin. Shareholders in the U.S. can request a hard copy at no cost, with physical copies expected to be mailed by March 31, 2021. This filing has implications for transparency and regulatory compliance, crucial for investor information.

CRH plc has launched a share buyback programme, aiming to repurchase up to $300 million worth of ordinary shares. This initiative follows its 2020 Full Year Results announcement on March 4, 2021. The buyback will take place on Euronext Dublin and will run from March 8, 2021, until no later than June 24, 2021. A maximum of 50,000,000 shares will be repurchased, aimed at reducing share capital. The programme aligns with shareholder approvals and regulatory requirements.

CRH plc, a leading global building materials company, announced significant Board changes as part of its renewal process. Heather Ann McSharry and Lucinda Riches will not seek re-election at the Annual General Meeting on 29 April 2021, stepping down from the Board. Additionally, Senan Murphy, Group Finance Director since 2016, will also retire from the Board during 2021 but will remain in his current role until a successor is appointed. The Chairman acknowledged their contributions and wished them success in their future endeavors.

CRH PLC announced its 2020 full-year results, highlighting a robust performance amid challenging conditions. The company achieved sales revenue of $27.6bn, a 2% decrease year-on-year, while EBITDA rose 5% to $4.6bn, improving the EBITDA margin to 16.8%. Notably, net debt/EBITDA stands at 1.3x, the lowest in a decade. The board increased the full-year dividend by 25% to 115.0c and announced a share buyback program of $0.3bn. Despite uncertain near-term outlook, the CEO expressed confidence in the company's strategic positioning and growth prospects.

CRH plc has appointed Richard Fearon and Lamar McKay as non-executive Directors effective December 3, 2020. Fearon, currently Vice Chairman and Chief Financial Officer at Eaton, brings extensive experience in strategic planning and operational management. McKay, previously Chief Transition Officer at BP, has a wealth of experience in safety and operational risk management. Chairman Richie Boucher highlighted their expertise in capital-intensive industries, which will aid CRH's strategic execution and shareholder value enhancement.