CRH Q1 2025 Results

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Key Highlights
Summary Financials	Q1 2025	Change
Total revenues	$6.8bn	+3%
Net (loss) income	($98m)	n/m¹
Net (loss) income margin	(1.5%)	(320bps)
Adjusted EBITDA*	$495m	+11%
Adjusted EBITDA margin*	7.3%	+50bps
Diluted (loss) earnings per share	($0.15)	n/m¹

Good start to the year despite unfavorable weather in the seasonally least significant quarter Performance driven by differentiated strategy, positive pricing and contributions from acquisitions Completed eight value-accretive bolt-on acquisitions for $0.6bn Ongoing share buyback; $0.5bn completed YTD; commencing new $0.3bn quarterly tranche Declaring quarterly dividend of $0.37 per share (+6% y/y) Underlying demand across key markets remains positive Reaffirming guidance; expect FY25 Net income of $3.7bn-$4.1bn; Adjusted EBITDA of $7.3bn-$7.7bn

2025 Guidance (i)
*(in $ billions, except per share data)*	Low	High
Net income (ii)	3.7	4.1
Adjusted EBITDA*	7.3	7.7
Diluted earnings per share (ii)	$5.34	$5.80
Capital expenditure	2.8	3.0

(i) The 2025 guidance does not assume any significant one-off or non-recurring items, including the impact of further potential changes to global trade policies, impairments or other unforeseen events.
(ii) 2025 net income and diluted earnings per share are based on approximately $0.6 billion interest expense, net, effective tax rate of approximately 23% and a year-to-date average of approximately 683 million diluted common shares outstanding.

Analysis of Change
*in $ millions*	Q1 2024	Currency	Acquisitions	Divestitures	Organic	Q1 2025	% change
Total revenues	2,202	(10)	+144	(16)	(77)	2,243	+2%
Adjusted EBITDA	15	—	+10	+6	+28	59	+293%
Adjusted EBITDA margin	0.7%					2.6%

Analysis of Change
*in $ millions*	Q1 2024	Currency	Acquisitions	Divestitures	Organic	Q1 2025	% change
Total revenues	1,693	(4)	+60	(8)	(59)	1,682	(1%)
Adjusted EBITDA	308	—	+15	(1)	(35)	287	(7%)
Adjusted EBITDA margin	18.2%					17.1%

Analysis of Change
*in $ millions*	Q1 2024	Currency	Acquisitions	Divestitures	Organic	Q1 2025	% change
Total revenues	2,638	(57)	+370	(67)	(53)	2,831	+7%
Adjusted EBITDA	122	(1)	+29	(16)	+15	149	+22%
Adjusted EBITDA margin	4.6%					5.3%

Companies

UK 100

Latest directors dealings


* Represents non-GAAP measure. See 'Non-GAAP Reconciliation and Supplementary Information' on pages 12 to 13.
¹n/m - not meaningful.

Ex-dividend Date:	May 23, 2025
Record Date:	May 23, 2025
Payment Date:	June 25, 2025

	Three months ended
	March 31
	2025	2024
Product revenues	5,612	5,368
Service revenues	1,144	1,165
Total revenues	6,756	6,533
Cost of product revenues	(3,826)	(3,577)
Cost of service revenues	(1,093)	(1,149)
Total cost of revenues	(4,919)	(4,726)
Gross profit	1,837	1,807
Selling, general and administrative expenses	(1,833)	(1,787)
Gain on disposal of long-lived assets	14	8
Operating income	18	28
Interest income	37	43
Interest expense	(181)	(133)
Other nonoperating (expense) income, net	(20)	161
(Loss) income from operations before income tax expense and income from equity method investments	(146)	99
Income tax benefit	58	19
Loss from equity method investments	(10)	(4)
Net (loss) income	(98)	114

Net (income) attributable to redeemable noncontrolling interests	–	(2)
Net loss attributable to noncontrolling interests	4	4
Net (loss) income attributable to CRH	(94)	116

(Loss) earnings per share attributable to CRH
Basic	($0.15)	$0.16
Diluted	($0.15)	$0.16

Weighted average common shares outstanding
Basic	676.7	687.8
Diluted	676.7	693.4

	March 31	December 31	March 31
	2025	2024	2024
Assets
Current assets:
Cash and cash equivalents	3,352	3,720	3,308
Restricted cash	–	39	–
Accounts receivable, net	5,141	4,820	4,798
Inventories	4,960	4,755	4,619
Assets held for sale	–	–	236
Other current assets	789	749	748
Total current assets	14,242	14,083	13,709
Property, plant and equipment, net	22,179	21,452	18,878
Equity method investments	732	737	609
Goodwill	11,475	11,061	10,125
Intangible assets, net	1,208	1,211	1,093
Operating lease right-of-use assets, net	1,272	1,274	1,285
Other noncurrent assets	813	795	634
Total assets	51,921	50,613	46,333

Liabilities, redeemable noncontrolling interests and shareholders’ equity
Current liabilities:
Accounts payable	2,777	3,207	2,730
Accrued expenses	2,270	2,248	2,241
Current portion of long-term debt	1,458	2,999	2,992
Operating lease liabilities	247	265	255
Liabilities held for sale	–	–	44
Other current liabilities	1,960	1,577	1,735
Total current liabilities	8,712	10,296	9,997
Long-term debt	14,213	10,969	9,680
Deferred income tax liabilities	3,141	3,105	2,684
Noncurrent operating lease liabilities	1,075	1,074	1,120
Other noncurrent liabilities	2,423	2,319	2,110
Total liabilities	29,564	27,763	25,591
Commitments and contingencies
Redeemable noncontrolling interests	379	384	326
Shareholders’ equity
Preferred stock, €1.27 par value, 150,000 shares authorized and 50,000 shares issued and outstanding for 5% preferred stock and 872,000 shares authorized, issued and outstanding for 7% 'A' preferred stock, as of March 31, 2025, December 31, 2024, and March 31, 2024	1	1	1
Common stock, €0.32 par value, 1,250,000,000 shares authorized; 715,487,343, 718,647,277 and 729,477,337 issued and outstanding, as of March 31, 2025, December 31, 2024, and March 31, 2024 respectively	289	290	294
Treasury stock, at cost (38,850,691, 41,355,384 and 41,897,429 shares as of March 31, 2025, December 31, 2024 and March 31, 2024 respectively)	(2,038)	(2,137)	(2,166)
Additional paid-in capital	298	422	337
Accumulated other comprehensive loss	(806)	(1,005)	(797)
Retained earnings	23,375	24,036	22,346
Total shareholders’ equity attributable to CRH shareholders	21,119	21,607	20,015
Noncontrolling interests	859	859	401
Total equity	21,978	22,466	20,416
Total liabilities, redeemable noncontrolling interests and equity	51,921	50,613	46,333


*in $ billions*	2025 Mid-Point
Net income	3.9
Income tax expense	1.1
Interest expense, net	0.6
Depreciation, depletion and amortization	1.9
Adjusted EBITDA	7.5