Summary Financials1
|
H1 2023
|
Change
|
Sales
|
$16.1bn
|
+8%
|
EBITDA
|
$2.5bn
|
+14%
|
EBITDA Margin
|
15.6%
|
+90bps
|
Operating Cash Flow
|
$1.0bn
|
+61%
|
EPS
|
$1.58
|
+31%
|
Analysis of change
|
|||||||
$ million
|
2022
|
Exchange
|
Acquisitions
|
Divestments
|
Organic
|
2023
|
% change
|
Sales revenue
|
5,546
|
-26
|
+111
|
-
|
+428
|
6,059
|
9%
|
EBITDA
|
820
|
-2
|
+11
|
-
|
+96
|
925
|
13%
|
Operating profit
|
405
|
-
|
-1
|
-
|
+106
|
510
|
26%
|
EBITDA/sales
|
14.8%
|
|
|
|
|
15.3%
|
|
Operating profit/sales
|
7.3%
|
|
|
|
|
8.4%
|
|
Analysis of change
|
|||||||
$ million
|
2022
|
Exchange
|
Acquisitions
|
Divestments
|
Organic
|
2023
|
% change
|
Sales revenue
|
3,150
|
-13
|
+626
|
-
|
+46
|
3,809
|
21%
|
EBITDA
|
646
|
-3
|
+145
|
-
|
+22
|
810
|
25%
|
Operating profit
|
534
|
-2
|
+97
|
-
|
+4
|
633
|
19%
|
EBITDA/sales
|
20.5%
|
|
|
|
|
21.3%
|
|
Operating profit/sales
|
17.0%
|
|
|
|
|
16.6%
|
|
Analysis of change
|
|||||||
$ million
|
2022
|
Exchange
|
Acquisitions
|
Divestments
|
Organic
|
2023
|
% change
|
Sales revenue
|
4,772
|
-146
|
+21
|
-86
|
+231
|
4,792
|
-
|
EBITDA
|
555
|
-10
|
+3
|
+2
|
+75
|
625
|
13%
|
Operating profit
|
308
|
-4
|
-
|
+7
|
+72
|
383
|
24%
|
EBITDA/sales
|
11.6%
|
|
|
|
|
13.0%
|
|
Operating profit/sales
|
6.5%
|
|
|
|
|
8.0%
|
|
Analysis of change
|
|||||||
$ million
|
2022
|
Exchange
|
Acquisitions
|
Divestments
|
Organic
|
2023
|
% change
|
Sales revenue
|
1,530
|
-23
|
+55
|
-
|
-86
|
1,476
|
-4%
|
EBITDA
|
189
|
-3
|
+4
|
-
|
-30
|
160
|
-15%
|
Operating profit
|
138
|
-2
|
-2
|
-
|
-33
|
101
|
-27%
|
EBITDA/sales
|
12.4%
|
|
|
|
|
10.8%
|
|
Operating profit/sales
|
9.0%
|
|
|
|
|
6.8%
|
|
|
|
|
Year ended
|
||
|
Six months ended 30 June
|
|
31 December
|
||
|
2023
|
|
2022
|
|
2022
|
|
Unaudited
|
|
Unaudited
|
|
Audited
|
|
$m
|
|
$m
|
|
$m
|
|
|
|
|
|
|
Revenue
|
16,136
|
|
14,998
|
|
32,723
|
Cost of sales
|
(10,855)
|
|
(10,243)
|
|
(21,844)
|
Gross profit
|
5,281
|
|
4,755
|
|
10,879
|
Operating costs
|
(3,654)
|
|
(3,370)
|
|
(6,985)
|
Group operating profit
|
1,627
|
|
1,385
|
|
3,894
|
Profit/(loss) on disposals
|
23
|
|
7
|
|
(49)
|
Profit before finance costs
|
1,650
|
|
1,392
|
|
3,845
|
Finance costs
|
(203)
|
|
(184)
|
|
(401)
|
Finance income
|
76
|
|
7
|
|
65
|
Other financial expense
|
(20)
|
|
(20)
|
|
(40)
|
Share of equity accounted investments' profit
|
7
|
|
8
|
|
-
|
Profit before tax from continuing operations
|
1,510
|
|
1,203
|
|
3,469
|
Income
tax expense - estimated at
interim
|
(332)
|
|
(265)
|
|
(785)
|
Group profit for the financial period from continuing
operations
|
1,178
|
|
938
|
|
2,684
|
Profit after tax for the financial period from discontinued
operations
|
-
|
|
1,168
|
|
1,190
|
Group profit for the financial period
|
1,178
|
|
2,106
|
|
3,874
|
Profit attributable to:
|
|
|
|
|
|
Equity holders of the Company
|
|
|
|
|
|
From
continuing operations
|
1,168
|
|
926
|
|
2,657
|
From
discontinued operations
|
-
|
|
1,168
|
|
1,190
|
Non-controlling interests
|
|
|
|
|
|
From
continuing operations
|
10
|
|
12
|
|
27
|
Group profit for the financial period
|
1,178
|
|
2,106
|
|
3,874
|
|
|
|
|
|
|
Basic earnings per Ordinary Share
|
$1.58
|
|
$2.74
|
|
$5.07
|
Diluted earnings per Ordinary Share
|
$1.57
|
|
$2.72
|
|
$5.03
|
|
|
|
|
|
|
Basic earnings per Ordinary Share from continuing
operations
|
$1.58
|
|
$1.21
|
|
$3.50
|
Diluted earnings per Ordinary Share from continuing
operations
|
$1.57
|
|
$1.20
|
|
$3.48
|
|
|
|
Year ended
|
||
|
Six months ended 30 June
|
|
31 December
|
||
|
2023
|
|
2022
|
|
2022
|
|
Unaudited
|
|
Unaudited
|
|
Audited
|
|
$m
|
|
$m
|
|
$m
|
|
|
|
|
|
|
Group profit for the financial period
|
1,178
|
|
2,106
|
|
3,874
|
|
|
|
|
|
|
Other comprehensive income
|
|
|
|
|
|
Items that may be reclassified to profit or loss in subsequent
periods:
|
|
|
|
|
|
Currency translation effects
|
173
|
|
(562)
|
|
(641)
|
(Loss)/gain relating to cash flow hedges
|
(9)
|
|
71
|
|
66
|
Tax relating to cash flow hedges
|
4
|
|
(12)
|
|
(14)
|
|
168
|
|
(503)
|
|
(589)
|
Items that will not be reclassified to profit or loss in subsequent
periods:
|
|
|
|
|
|
Remeasurement of retirement benefit obligations
|
16
|
|
297
|
|
279
|
Tax relating to retirement benefit obligations
|
(1)
|
|
(64)
|
|
(63)
|
|
15
|
|
233
|
|
216
|
Total other comprehensive income for the financial
period
|
183
|
|
(270)
|
|
(373)
|
Total comprehensive income for the financial period
|
1,361
|
|
1,836
|
|
3,501
|
Attributable to:
|
|
|
|
|
|
Equity holders of the Company
|
1,345
|
|
1,866
|
|
3,520
|
Non-controlling interests
|
16
|
|
(30)
|
|
(19)
|
Total comprehensive income for the financial period
|
1,361
|
|
1,836
|
|
3,501
|
|
|
|
|
|
As at
|
|
As at 30 June
|
|
As at 30 June
|
|
31 December
|
|
2023
|
|
2022
|
|
2022
|
|
Unaudited
|
|
Unaudited
|
|
Audited
|
|
$m
|
|
$m
|
|
$m
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
Non-current assets
|
|
|
|
|
|
Property, plant and equipment
|
19,322
|
|
18,298
|
|
18,921
|
Intangible assets
|
10,399
|
|
8,726
|
|
10,287
|
Investments accounted for using the equity method
|
672
|
|
655
|
|
649
|
Other financial assets
|
42
|
|
12
|
|
14
|
Other receivables
|
171
|
|
212
|
|
164
|
Retirement benefit assets
|
282
|
|
284
|
|
261
|
Derivative financial instruments
|
3
|
|
5
|
|
3
|
Deferred income tax assets
|
83
|
|
56
|
|
88
|
Total non-current assets
|
30,974
|
|
28,248
|
|
30,387
|
Current assets
|
|
|
|
|
|
Inventories
|
4,276
|
|
3,792
|
|
4,194
|
Trade and other receivables
|
6,360
|
|
5,818
|
|
4,569
|
Current income tax recoverable
|
90
|
|
40
|
|
63
|
Derivative financial instruments
|
8
|
|
112
|
|
39
|
Cash and cash equivalents
|
4,275
|
|
6,826
|
|
5,936
|
Total current assets
|
15,009
|
|
16,588
|
|
14,801
|
|
|
|
|
|
|
Total assets
|
45,983
|
|
44,836
|
|
45,188
|
|
|
|
|
|
|
EQUITY
|
|
|
|
|
|
Capital and reserves attributable to the Company's equity
holders
|
|
|
|
|
|
Equity share capital
|
302
|
|
309
|
|
302
|
Preference share capital
|
1
|
|
1
|
|
1
|
Treasury Shares and own shares
|
(1,140)
|
|
(644)
|
|
(297)
|
Other reserves
|
329
|
|
322
|
|
380
|
Cash flow hedging reserve
|
16
|
|
-
|
|
5
|
Foreign currency translation reserve
|
(525)
|
|
(617)
|
|
(692)
|
Retained income
|
21,712
|
|
21,424
|
|
21,992
|
Capital and reserves attributable to the Company's equity
holders
|
20,695
|
|
20,795
|
|
21,691
|
Non-controlling interests
|
651
|
|
640
|
|
646
|
Total equity
|
21,346
|
|
21,435
|
|
22,337
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
Non-current liabilities
|
|
|
|
|
|
Lease liabilities
|
1,081
|
|
1,014
|
|
1,059
|
Interest-bearing loans and borrowings
|
7,563
|
|
8,584
|
|
8,145
|
Derivative financial instruments
|
83
|
|
26
|
|
77
|
Deferred income tax liabilities
|
2,936
|
|
2,623
|
|
2,868
|
Other payables
|
647
|
|
700
|
|
691
|
Retirement benefit obligations
|
277
|
|
296
|
|
277
|
Provisions for liabilities
|
823
|
|
879
|
|
845
|
Total non-current liabilities
|
13,410
|
|
14,122
|
|
13,962
|
|
|
|
|
|
|
Current liabilities
|
|
|
|
|
|
Lease liabilities
|
266
|
|
246
|
|
260
|
Trade and other payables
|
7,448
|
|
6,172
|
|
5,872
|
Current income tax liabilities
|
747
|
|
982
|
|
702
|
Interest-bearing loans and borrowings
|
2,185
|
|
1,364
|
|
1,491
|
Derivative financial instruments
|
39
|
|
8
|
|
51
|
Provisions for liabilities
|
542
|
|
507
|
|
513
|
Total current liabilities
|
11,227
|
|
9,279
|
|
8,889
|
Total liabilities
|
24,637
|
|
23,401
|
|
22,851
|
|
|
|
|
|
|
Total equity and liabilities
|
45,983
|
|
44,836
|
|
45,188
|
|
Attributable to the equity holders of the Company
|
|
|
|||||
|
|
Treasury
|
|
|
Foreign
|
|
|
|
Issued
|
Shares/
|
|
Cash flow
|
currency
|
|
Non-
|
|
|
share
|
own
|
Other
|
hedging
|
translation
|
Retained
|
controlling
|
Total
|
|
capital
|
shares
|
reserves
|
reserve
|
reserve
|
income
|
interests
|
equity
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
|
For the financial period ended 30 June 2023
(unaudited)
|
||||||||
At 1 January 2023
|
303
|
(297)
|
380
|
5
|
(692)
|
21,992
|
646
|
22,337
|
Group profit for the financial period
|
-
|
-
|
-
|
-
|
-
|
1,168
|
10
|
1,178
|
Other comprehensive income
|
-
|
-
|
-
|
(9)
|
167
|
19
|
6
|
183
|
Total comprehensive income
|
-
|
-
|
-
|
(9)
|
167
|
1,187
|
16
|
1,361
|
Share-based payment expense
|
-
|
-
|
60
|
-
|
-
|
-
|
-
|
60
|
Shares acquired by CRH plc (Treasury Shares)
|
-
|
(954)
|
-
|
-
|
-
|
(704)
|
-
|
(1,658)
|
Treasury Shares/own shares reissued
|
-
|
5
|
-
|
-
|
-
|
(5)
|
-
|
-
|
Shares acquired by Employee Benefit Trust (own shares)
|
-
|
(5)
|
-
|
-
|
-
|
-
|
-
|
(5)
|
Shares distributed under the Performance Share Plan
Awards
|
-
|
111
|
(111)
|
-
|
-
|
-
|
-
|
-
|
Hedging losses transferred to inventory
|
-
|
-
|
-
|
20
|
-
|
-
|
-
|
20
|
Tax relating to cash flow hedges
|
-
|
-
|
-
|
-
|
-
|
(4)
|
-
|
(4)
|
Tax relating to share-based payment expense
|
-
|
-
|
-
|
-
|
-
|
4
|
-
|
4
|
Share option exercises
|
-
|
-
|
-
|
-
|
-
|
3
|
-
|
3
|
Dividends
|
-
|
-
|
-
|
-
|
-
|
(761)
|
(11)
|
(772)
|
At 30 June 2023
|
303
|
(1,140)
|
329
|
16
|
(525)
|
21,712
|
651
|
21,346
|
For the financial period ended 30 June 2022
(unaudited)
|
||||||||
At 1 January 2022
|
310
|
(195)
|
445
|
-
|
(97)
|
19,770
|
681
|
20,914
|
Group profit for the financial period
|
-
|
-
|
-
|
-
|
-
|
2,094
|
12
|
2,106
|
Other comprehensive income
|
-
|
-
|
-
|
-
|
(520)
|
292
|
(42)
|
(270)
|
Total comprehensive income
|
-
|
-
|
-
|
-
|
(520)
|
2,386
|
(30)
|
1,836
|
Share-based payment expense
|
-
|
-
|
50
|
-
|
-
|
-
|
-
|
50
|
Shares acquired by CRH plc (Treasury Shares)
|
-
|
(626)
|
-
|
-
|
-
|
39
|
-
|
(587)
|
Treasury Shares/own shares reissued
|
-
|
12
|
-
|
-
|
-
|
(12)
|
-
|
-
|
Shares acquired by Employee Benefit Trust (own shares)
|
-
|
(8)
|
-
|
-
|
-
|
-
|
-
|
(8)
|
Shares distributed under the Performance Share Plan
Awards
|
-
|
173
|
(173)
|
-
|
-
|
-
|
-
|
-
|
Tax relating to share-based payment expense
|
-
|
-
|
-
|
-
|
-
|
(15)
|
-
|
(15)
|
Share option exercises
|
-
|
-
|
-
|
-
|
-
|
6
|
-
|
6
|
Dividends
|
-
|
-
|
-
|
-
|
-
|
(750)
|
(8)
|
(758)
|
Transactions involving non-controlling interests
|
-
|
-
|
-
|
-
|
-
|
-
|
(3)
|
(3)
|
At 30 June 2022
|
310
|
(644)
|
322
|
-
|
(617)
|
21,424
|
640
|
21,435
|
|
Attributable to the equity holders of the Company
|
|
|
|||||
|
|
Treasury
|
|
|
Foreign
|
|
|
|
Issued
|
Shares/
|
|
Cash flow
|
currency
|
|
Non-
|
|
|
share
|
own
|
Other
|
hedging
|
translation
|
Retained
|
controlling
|
Total
|
|
capital
|
shares
|
reserves
|
reserve
|
reserve
|
income
|
interests
|
equity
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
|
for the financial year ended 31 December 2022
(audited)
|
||||||||
At 1 January 2022
|
310
|
(195)
|
445
|
-
|
(97)
|
19,770
|
681
|
20,914
|
Group profit for the financial year
|
-
|
-
|
-
|
-
|
-
|
3,847
|
27
|
3,874
|
Other comprehensive income
|
-
|
-
|
-
|
66
|
(595)
|
202
|
(46)
|
(373)
|
Total comprehensive income
|
-
|
-
|
-
|
66
|
(595)
|
4,049
|
(19)
|
3,501
|
|
|
|
|
|
|
|
|
|
Reclassifications
|
-
|
-
|
-
|
35
|
-
|
(35)
|
-
|
-
|
Share-based payment expense
|
-
|
-
|
101
|
-
|
-
|
-
|
-
|
101
|
Shares acquired by CRH plc (Treasury Shares)
|
-
|
(1,170)
|
-
|
-
|
-
|
17
|
-
|
(1,153)
|
Treasury/own shares reissued
|
-
|
24
|
-
|
-
|
-
|
(24)
|
-
|
-
|
Shares acquired by Employee Benefit Trust (own shares)
|
-
|
(8)
|
-
|
-
|
-
|
-
|
-
|
(8)
|
Shares distributed under the Performance Share Plan
Awards
|
-
|
173
|
(173)
|
-
|
-
|
-
|
-
|
-
|
Cancellation of Treasury Shares
|
(7)
|
879
|
7
|
-
|
-
|
(879)
|
-
|
-
|
Hedging gains transferred to inventory
|
-
|
-
|
-
|
(96)
|
-
|
-
|
-
|
(96)
|
Tax relating to cash flow hedges
|
-
|
-
|
-
|
-
|
-
|
17
|
-
|
17
|
Tax relating to share-based payment expense
|
-
|
-
|
-
|
-
|
-
|
(3)
|
-
|
(3)
|
Share option exercises
|
-
|
-
|
-
|
-
|
-
|
11
|
-
|
11
|
Dividends
|
-
|
-
|
-
|
-
|
-
|
(931)
|
(13)
|
(944)
|
Transactions involving non-controlling interests
|
-
|
-
|
-
|
-
|
-
|
-
|
(3)
|
(3)
|
At 31 December 2022
|
303
|
(297)
|
380
|
5
|
(692)
|
21,992
|
646
|
22,337
|
|
|
|
Year ended
|
||
|
Six months ended 30 June
|
|
31 December
|
||
|
2023
|
|
2022
|
|
2022
|
|
Unaudited
|
|
Unaudited
|
|
Audited
|
|
$m
|
|
$m
|
|
$m
|
Cash flows from operating activities
|
|
|
|
|
|
Group profit for the financial period
|
1,178
|
|
2,106
|
|
3,874
|
Finance costs (net)
|
147
|
|
203
|
|
382
|
Share of equity accounted investments' profit
|
(7)
|
|
(8)
|
|
-
|
Profit on disposals
|
(23)
|
|
(1,464)
|
|
(1,422)
|
Depreciation charge
|
824
|
|
821
|
|
1,644
|
Amortisation of intangible assets
|
69
|
|
40
|
|
113
|
Share-based payment expense
|
60
|
|
50
|
|
101
|
Income tax expense
|
332
|
|
643
|
|
1,155
|
Other
|
(3)
|
|
7
|
|
42
|
Net movement in inventories, receivables, payables and
provisions
|
(1,081)
|
|
(1,365)
|
|
(518)
|
Cash generated from operations
|
1,496
|
|
1,033
|
|
5,371
|
Interest paid (including leases)
|
(221)
|
|
(179)
|
|
(374)
|
Corporation tax paid
|
(277)
|
|
(233)
|
|
(1,043)
|
Net cash inflow from operating activities
|
998
|
|
621
|
|
3,954
|
|
|
|
|
|
|
Cash flows from investing activities
|
|
|
|
|
|
Proceeds from disposals (net of cash disposed and deferred
proceeds)
|
42
|
|
3,579
|
|
3,827
|
Interest received
|
76
|
|
7
|
|
65
|
Dividends received from equity accounted investments
|
12
|
|
16
|
|
36
|
Purchase of property, plant and equipment
|
(771)
|
|
(596)
|
|
(1,523)
|
Acquisition of subsidiaries (net of cash acquired)
|
(198)
|
|
(886)
|
|
(3,253)
|
Other investments and advances
|
(62)
|
|
(14)
|
|
(45)
|
Net cash flow arising from derivative financial
instruments
|
7
|
|
(15)
|
|
(11)
|
Deferred and contingent acquisition consideration paid
|
(12)
|
|
(19)
|
|
(32)
|
Deferred divestment consideration received
|
-
|
|
53
|
|
52
|
Net cash (outflow)/inflow from investing activities
|
(906)
|
|
2,125
|
|
(884)
|
|
|
|
|
|
|
Cash flows from financing activities
|
|
|
|
|
|
Proceeds from exercise of share options
|
3
|
|
6
|
|
11
|
Transactions involving non-controlling interests
|
-
|
|
(3)
|
|
(3)
|
Increase in interest-bearing loans and borrowings
|
855
|
|
49
|
|
38
|
Net cash flow arising from derivative financial
instruments
|
4
|
|
(16)
|
|
(11)
|
Repayment of interest-bearing loans and borrowings
|
(849)
|
|
-
|
|
(364)
|
Repayment of lease liabilities (i)
|
(127)
|
|
(132)
|
|
(249)
|
Treasury Shares/own shares purchased
|
(959)
|
|
(634)
|
|
(1,178)
|
Dividends paid to equity holders of the Company
|
(761)
|
|
(732)
|
|
(917)
|
Dividends paid to non-controlling interests
|
(11)
|
|
(8)
|
|
(13)
|
Net cash outflow from financing activities
|
(1,845)
|
|
(1,470)
|
|
(2,686)
|
|
|
|
|
|
|
(Decrease)/increase in cash and cash equivalents
|
(1,753)
|
|
1,276
|
|
384
|
|
|
|
|
|
|
Reconciliation of opening to closing cash and cash
equivalents
|
|
|
|
|
|
Cash and cash equivalents at 1 January
|
5,936
|
|
5,783
|
|
5,783
|
Translation adjustment
|
92
|
|
(233)
|
|
(231)
|
(Decrease)/increase in cash and cash equivalents
|
(1,753)
|
|
1,276
|
|
384
|
Cash and cash equivalents at 30 June
|
4,275
|
|
6,826
|
|
5,936
|
|
Average
|
|
Period end
|
||||
|
Six months ended 30 June
|
Year ended 31 December
|
|
Six months ended 30 June
|
Year ended 31 December
|
||
US Dollar 1 =
|
2023
|
2022
|
2022
|
|
2023
|
2022
|
2022
|
Brazilian Real
|
5.0728
|
5.0742
|
5.1648
|
|
4.8543
|
5.1802
|
5.2794
|
Canadian Dollar
|
1.3479
|
1.2715
|
1.3017
|
|
1.3270
|
1.2920
|
1.3535
|
Chinese Renminbi
|
6.9308
|
6.4808
|
6.7334
|
|
7.2686
|
6.7029
|
6.8987
|
Danish Krone
|
6.8904
|
6.8120
|
7.0805
|
|
6.8608
|
7.1585
|
6.9662
|
Euro
|
0.9253
|
0.9156
|
0.9518
|
|
0.9212
|
0.9623
|
0.9368
|
Hungarian Forint
|
352.2330
|
343.8223
|
373.1682
|
|
342.7400
|
382.0900
|
375.1400
|
Indian Rupee
|
82.2207
|
76.2320
|
78.6295
|
|
82.0366
|
79.0116
|
82.7211
|
Philippine Peso
|
55.2423
|
52.1510
|
54.5318
|
|
55.2140
|
54.9850
|
55.7290
|
Polish Zloty
|
4.2796
|
4.2453
|
4.4631
|
|
4.0888
|
4.5101
|
4.3881
|
Pound Sterling
|
0.8110
|
0.7713
|
0.8120
|
|
0.7906
|
0.8257
|
0.8310
|
Romanian Leu
|
4.5655
|
4.5283
|
4.6930
|
|
4.5728
|
4.7601
|
4.6357
|
Serbian Dinar
|
108.5502
|
107.6546
|
111.7836
|
|
107.9929
|
112.9686
|
109.8553
|
Swiss Franc
|
0.9119
|
0.9446
|
0.9551
|
|
0.9011
|
0.9576
|
0.9230
|
Ukrainian Hryvnia
|
36.9043
|
29.1905
|
32.6730
|
|
36.9332
|
29.6067
|
36.9172
|
$ million
|
Sales revenue
|
EBITDA
|
Operating profit
|
Profit on disposals
|
Finance costs (net)
|
Assoc. and JV PAT (i)
|
Pre-tax profit
|
First half 2022
|
14,998
|
2,210
|
1,385
|
7
|
(197)
|
8
|
1,203
|
Exchange effects
|
(208)
|
(18)
|
(8)
|
-
|
2
|
-
|
(6)
|
2022 at 2023 rates
|
14,790
|
2,192
|
1,377
|
7
|
(195)
|
8
|
1,197
|
Incremental impact in 2023 of:
|
|
|
|
|
|
|
|
- 2022/2023 acquisitions
|
813
|
163
|
94
|
-
|
(53)
|
-
|
41
|
- 2022/2023 divestments
|
(86)
|
2
|
7
|
15
|
28
|
-
|
50
|
Organic
|
619
|
163
|
149
|
1
|
73
|
(1)
|
222
|
First half 2023
|
16,136
|
2,520
|
1,627
|
23
|
(147)
|
7
|
1,510
|
|
|
|
|
|
|
|
|
% Total change
|
8%
|
14%
|
17%
|
|
|
|
26%
|
% Organic change
|
4%
|
7%
|
11%
|
|
|
|
19%
|
|
Six months ended 30 June 2023 -
Unaudited
|
|
Six months ended 30 June 2022 -
Unaudited
|
||||||||
|
Americas Materials Solutions
|
Americas Building Solutions
|
Europe Materials Solutions
|
Europe Building Solutions
|
Total
|
|
Americas Materials Solutions
|
Americas Building Solutions
|
Europe Materials Solutions
|
Europe Building Solutions
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Primary geographic markets
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
|
|
|
|
|
|
|
|
|
|
Republic of Ireland (country of domicile)
|
-
|
-
|
439
|
-
|
439
|
|
-
|
-
|
395
|
-
|
395
|
United Kingdom
|
-
|
-
|
2,077
|
122
|
2,199
|
|
-
|
-
|
2,088
|
129
|
2,217
|
Rest of Europe (i)
|
-
|
-
|
2,037
|
1,189
|
3,226
|
|
-
|
-
|
1,997
|
1,244
|
3,241
|
United States
|
5,541
|
3,634
|
-
|
81
|
9,256
|
|
5,071
|
2,957
|
-
|
86
|
8,114
|
Rest of World (ii)
|
518
|
175
|
239
|
84
|
1,016
|
|
475
|
193
|
292
|
71
|
1,031
|
Total Group from continuing operations
|
6,059
|
3,809
|
4,792
|
1,476
|
16,136
|
|
5,546
|
3,150
|
4,772
|
1,530
|
14,998
|
Discontinued operations
|
|
|
|
|
|
|
|
|
|
|
|
United Kingdom - Building Envelope
|
-
|
-
|
-
|
-
|
-
|
|
-
|
8
|
-
|
-
|
8
|
Rest of Europe (i) - Building Envelope
|
-
|
-
|
-
|
-
|
-
|
|
-
|
4
|
-
|
-
|
4
|
United States - Building Envelope
|
-
|
-
|
-
|
-
|
-
|
|
-
|
576
|
-
|
-
|
576
|
Rest of World (ii) - Building Envelope
|
-
|
-
|
-
|
-
|
-
|
|
-
|
59
|
-
|
-
|
59
|
Total Group from discontinued operations
|
-
|
-
|
-
|
-
|
-
|
|
-
|
647
|
-
|
-
|
647
|
|
Six months ended 30 June 2023 -
Unaudited
|
|
Six months ended 30 June 2022 -
Unaudited
|
||||||||
|
Americas Materials Solutions (iii)
|
Americas Building Solutions
|
Europe Materials Solutions (iii)
|
Europe Building Solutions
|
Total
|
|
Americas Materials Solutions (iii)
|
Americas Building Solutions
|
Europe Materials Solutions (iii)
|
Europe Building Solutions
|
Total
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Principal activities and products
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
|
|
|
|
|
|
|
|
|
|
Essential Materials
|
2,062
|
-
|
2,478
|
-
|
4,540
|
|
1,845
|
-
|
2,344
|
-
|
4,189
|
Road Solutions (iv)
|
3,997
|
-
|
2,314
|
-
|
6,311
|
|
3,701
|
-
|
2,428
|
-
|
6,129
|
Building and Infrastructure Solutions (v)
|
-
|
1,248
|
-
|
1,159
|
2,407
|
|
-
|
1,155
|
-
|
1,201
|
2,356
|
Outdoor Living Solutions
|
-
|
2,561
|
-
|
317
|
2,878
|
|
-
|
1,995
|
-
|
329
|
2,324
|
Total Group from continuing operations
|
6,059
|
3,809
|
4,792
|
1,476
|
16,136
|
|
5,546
|
3,150
|
4,772
|
1,530
|
14,998
|
Discontinued operations
|
|
|
|
|
|
|
|
|
|
|
|
Building and Infrastructure Solutions - Building
Envelope
|
-
|
-
|
-
|
-
|
-
|
|
-
|
647
|
-
|
-
|
647
|
Total Group from discontinued operations
|
-
|
-
|
-
|
-
|
-
|
|
-
|
647
|
-
|
-
|
647
|
|
|
|
Year ended
|
|||||
|
Six months ended 30 June
|
|
31 December
|
|||||
|
2023
|
|
2022
|
|
2022
|
|||
|
Unaudited
|
|
Unaudited
|
|
Unaudited
|
|||
|
$m
|
%
|
|
$m
|
%
|
|
$m
|
%
|
Revenue
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
|
|
|
|
|
|
|
Americas Materials Solutions
|
6,059
|
37.5
|
|
5,546
|
37.0
|
|
14,324
|
43.8
|
Americas Building Solutions
|
3,809
|
23.6
|
|
3,150
|
21.0
|
|
6,188
|
18.9
|
Europe Materials Solutions
|
4,792
|
29.7
|
|
4,772
|
31.8
|
|
9,349
|
28.6
|
Europe Building Solutions
|
1,476
|
9.2
|
|
1,530
|
10.2
|
|
2,862
|
8.7
|
Total Group from continuing operations
|
16,136
|
100.0
|
|
14,998
|
100.0
|
|
32,723
|
100.0
|
|
|
|
|
|
|
|
|
|
Discontinued operations
|
|
|
|
|
|
|
|
|
Americas Building Solutions - Building Envelope
|
-
|
|
|
647
|
|
|
645
|
|
Total Group from discontinued operations
|
-
|
|
|
647
|
|
|
645
|
|
|
|
|
|
|
|
|
|
|
EBITDA
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
|
|
|
|
|
|
|
Americas Materials Solutions
|
925
|
36.7
|
|
820
|
37.1
|
|
2,748
|
48.9
|
Americas Building Solutions
|
810
|
32.1
|
|
646
|
29.2
|
|
1,255
|
22.4
|
Europe Materials Solutions
|
625
|
24.8
|
|
555
|
25.1
|
|
1,246
|
22.2
|
Europe Building Solutions
|
160
|
6.4
|
|
189
|
8.6
|
|
366
|
6.5
|
Total Group from continuing operations
|
2,520
|
100.0
|
|
2,210
|
100.0
|
|
5,615
|
100.0
|
|
|
|
|
|
|
|
|
|
Discontinued operations
|
|
|
|
|
|
|
|
|
Americas Building Solutions - Building Envelope
|
-
|
|
|
131
|
|
|
131
|
|
Total Group from discontinued operations
|
-
|
|
|
131
|
|
|
131
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortisation
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
|
|
|
|
|
|
|
Americas Materials Solutions
|
415
|
46.5
|
|
415
|
50.3
|
|
839
|
48.7
|
Americas Building Solutions
|
177
|
19.8
|
|
112
|
13.6
|
|
284
|
16.5
|
Europe Materials Solutions
|
242
|
27.1
|
|
247
|
29.9
|
|
497
|
28.9
|
Europe Building Solutions
|
59
|
6.6
|
|
51
|
6.2
|
|
101
|
5.9
|
Total Group from continuing operations
|
893
|
100.0
|
|
825
|
100.0
|
|
1,721
|
100.0
|
|
|
|
|
|
|
|
|
|
Group operating profit
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
|
|
|
|
|
|
|
Americas Materials Solutions
|
510
|
31.3
|
|
405
|
29.2
|
|
1,909
|
49.0
|
Americas Building Solutions
|
633
|
39.0
|
|
534
|
38.6
|
|
971
|
25.0
|
Europe Materials Solutions
|
383
|
23.5
|
|
308
|
22.2
|
|
749
|
19.2
|
Europe Building Solutions
|
101
|
6.2
|
|
138
|
10.0
|
|
265
|
6.8
|
Total Group from continuing operations
|
1,627
|
100.0
|
|
1,385
|
100.0
|
|
3,894
|
100.0
|
|
|
|
|
|
Year ended
|
|||
|
|
Six months ended 30 June
|
|
31 December
|
||||
|
2023
|
|
2022
|
|
2022
|
|||
|
Unaudited
|
|
Unaudited
|
|
Unaudited
|
|||
|
|
$m
|
|
$m
|
|
$m
|
||
Reconciliation of Group operating profit to profit before
tax
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
|
|
|
|
|
|
|
Group operating profit
|
|
1,627
|
|
1,385
|
|
3,894
|
||
Profit/(loss) on disposals (i)
|
|
23
|
|
7
|
|
(49)
|
||
Profit before finance costs
|
|
1,650
|
|
1,392
|
|
3,845
|
||
Finance costs less income
|
|
(127)
|
|
(177)
|
|
(336)
|
||
Other financial expense
|
|
(20)
|
|
(20)
|
|
(40)
|
||
Share of equity accounted investments' profit
|
|
7
|
|
8
|
|
-
|
||
Profit before tax from continuing operations
|
|
1,510
|
|
1,203
|
|
3,469
|
||
|
|
|
|
|
|
|
||
(i) Profit/(loss) on disposals
|
|
|
|
|
|
|
||
Americas Materials Solutions
|
|
11
|
|
17
|
|
38
|
||
Americas Building Solutions
|
|
1
|
|
1
|
|
1
|
||
Europe Materials Solutions
|
|
11
|
|
(11)
|
|
(90)
|
||
Europe Building Solutions
|
|
-
|
|
-
|
|
2
|
||
Total Group from continuing
operations
|
|
23
|
|
7
|
|
(49)
|
|
|
|
As at
|
|||||
|
As at 30 June
|
|
31 December
|
|||||
|
2023
|
|
2022
|
|
2022
|
|||
|
Unaudited
|
|
Unaudited
|
|
Unaudited
|
|||
|
$m
|
%
|
|
$m
|
%
|
|
$m
|
%
|
Total assets
|
|
|
|
|
|
|
|
|
Americas Materials Solutions
|
18,566
|
45.5
|
|
18,027
|
48.6
|
|
17,609
|
45.9
|
Americas Building Solutions
|
8,104
|
19.8
|
|
5,597
|
15.1
|
|
7,750
|
20.2
|
Europe Materials Solutions
|
11,580
|
28.4
|
|
11,267
|
30.3
|
|
10,843
|
28.2
|
Europe Building Solutions
|
2,560
|
6.3
|
|
2,239
|
6.0
|
|
2,194
|
5.7
|
Total Group
|
40,810
|
100.0
|
|
37,130
|
100.0
|
|
38,396
|
100.0
|
Reconciliation to total assets as reported in the Condensed
Consolidated Balance Sheet:
|
|
|
|
|
|
|||
Investments accounted for using the equity method
|
672
|
|
|
655
|
|
|
649
|
|
Other financial assets
|
42
|
|
|
12
|
|
|
14
|
|
Derivative financial instruments (current and
non-current)
|
11
|
|
|
117
|
|
|
42
|
|
Income tax assets (current and deferred)
|
173
|
|
|
96
|
|
|
151
|
|
Cash and cash equivalents
|
4,275
|
|
|
6,826
|
|
|
5,936
|
|
Total assets
|
45,983
|
|
|
44,836
|
|
|
45,188
|
|
|
|
|
Year ended 31 December
|
||
|
Six months ended 30 June
|
|
|||
|
2023
|
|
2022
|
|
2022
|
|
Unaudited
|
|
Unaudited
|
|
Audited
|
|
$m
|
|
$m
|
|
$m
|
Numerator computations
|
|
|
|
|
|
Group profit for the financial period
|
1,178
|
|
2,106
|
|
3,874
|
Profit attributable to non-controlling interests
|
(10)
|
|
(12)
|
|
(27)
|
Profit attributable to ordinary equity holders of the Company -
numerator for basic/diluted earnings per Ordinary
Share
|
1,168
|
|
2,094
|
|
3,847
|
Profit after tax for the financial period from discontinued
operations - attributable to equity holders of the
Company
|
-
|
|
1,168
|
|
1,190
|
Profit attributable to ordinary equity holders of the Company -
numerator for basic/diluted earnings per Ordinary Share from
continuing operations
|
1,168
|
|
926
|
|
2,657
|
|
|
|
|
|
|
|
Number of shares
|
|
Number of shares
|
|
Number of shares
|
Denominator computations
|
|
|
|
|
|
Weighted average number of Ordinary Shares (millions) outstanding
for the financial period
|
738.8
|
|
765.2
|
|
758.3
|
Effect of dilutive potential Ordinary Shares (employee share
awards) (millions)
|
4.6
|
|
4.9
|
|
5.8
|
Denominator for diluted earnings per Ordinary Share
|
743.4
|
|
770.1
|
|
764.1
|
|
|
|
|
|
|
Earnings per Ordinary Share
|
|
|
|
|
|
- basic
|
$1.58
|
|
$2.74
|
|
$5.07
|
- diluted
|
$1.57
|
|
$2.72
|
|
$5.03
|
|
|
|
|
|
|
Earnings per Ordinary Share from continuing operations
|
|
|
|
|
|
-
basic
|
$1.58
|
|
$1.21
|
|
$3.50
|
- diluted
|
$1.57
|
|
$1.20
|
|
$3.48
|
|
|
|
Year ended
|
|||||
|
Six months ended 30 June
|
|
31 December
|
|||||
|
|
2023
|
|
|
2022
|
|
|
2022
|
|
Unaudited
|
|
Unaudited
|
|
Audited
|
|||
Net dividend paid per share
|
|
$1.03
|
|
|
$0.98
|
|
|
$1.22
|
Net dividend declared for the period
|
|
$0.25
|
|
|
$0.24
|
|
|
$1.27
|
Dividend cover - continuing operations
|
|
6.3x
|
|
|
5.0x
|
|
|
2.8x
|
|
|
|
Year ended
|
Six months ended 30 June
|
|
31 December
|
|
|
2022
|
|
2022
|
|
Unaudited
|
|
Audited
|
|
$m
|
|
$m
|
Net assets disposed
|
2,066
|
|
2,049
|
Reclassification of currency translation effects on
disposal
|
5
|
|
5
|
Total
|
2,071
|
|
2,054
|
Proceeds from disposal (net of disposal costs)
|
3,528
|
|
3,525
|
Profit on disposal from discontinued operations
|
1,457
|
|
1,471
|
Net cash inflow arising on disposal
|
|
|
|
Proceeds from disposal from discontinued operations
|
3,528
|
|
3,525
|
Less: cash and cash equivalents disposed
|
(27)
|
|
(27)
|
Total
|
3,501
|
|
3,498
|
|
|
|
Year ended
|
Six months ended 30 June
|
|
31 December
|
|
|
2022
|
|
2022
|
|
Unaudited
|
|
Audited
|
|
$m
|
|
$m
|
Revenue
|
647
|
|
645
|
Cost of sales (i)
|
(413)
|
|
(412)
|
Gross profit
|
234
|
|
233
|
Operating costs (i)
|
(139)
|
|
(138)
|
Operating profit
|
95
|
|
95
|
Profit on disposals
|
1,457
|
|
1,471
|
Profit before finance costs
|
1,552
|
|
1,566
|
Finance costs
|
(6)
|
|
(6)
|
Profit before tax
|
1,546
|
|
1,560
|
Attributable income tax expense (ii)
|
(378)
|
|
(370)
|
Profit after tax for the financial period from discontinued
operations
|
1,168
|
|
1,190
|
|
|
|
|
Profit attributable to:
|
|
|
|
Equity holders of the Company
|
1,168
|
|
1,190
|
Profit after tax for the financial period from discontinued
operations
|
1,168
|
|
1,190
|
|
|
|
|
Basic earnings per Ordinary Share from discontinued
operations
|
$1.53
|
|
$1.57
|
Diluted earnings per Ordinary Share from discontinued
operations
|
$1.52
|
|
$1.55
|
|
|
|
|
Cash flows from discontinued operations
|
|
|
|
Net cash outflow from operating activities (iii)
|
(18)
|
|
(435)
|
Net cash inflow from investing activities (iv)
|
3,449
|
|
3,446
|
Net cash outflow from financing activities
|
(6)
|
|
(6)
|
|
|
|
Year ended
|
||
|
Six months ended 30 June
|
|
31 December
|
||
|
2023
|
|
2022
|
|
2022
|
|
Unaudited
|
|
Unaudited
|
|
Audited
|
|
$m
|
|
$m
|
|
$m
|
Finance costs
|
203
|
|
184
|
|
401
|
Finance income
|
(76)
|
|
(7)
|
|
(65)
|
Other financial expense
|
20
|
|
20
|
|
40
|
Total net finance costs
|
147
|
|
197
|
|
376
|
|
|
|
|
|
|
The overall total is analysed as follows:
|
|
|
|
|
|
Net finance costs on interest-bearing loans and borrowings
including leases and cash and cash equivalents
|
132
|
|
180
|
|
337
|
Net credit re change in fair value of derivatives and fixed rate
debt
|
(5)
|
|
(3)
|
|
(1)
|
Finance costs less income
|
127
|
|
177
|
|
336
|
Unwinding of discount element of provisions for
liabilities
|
10
|
|
8
|
|
16
|
Unwinding of discount applicable to deferred and contingent
acquisition consideration
|
10
|
|
10
|
|
20
|
Unwinding of discount applicable to deferred divestment
proceeds
|
(3)
|
|
(5)
|
|
(8)
|
Unwinding of discount applicable to leased mineral
reserves
|
3
|
|
3
|
|
6
|
Pension-related finance costs (net) (note 15)
|
-
|
|
4
|
|
6
|
Total net finance costs (i)
|
147
|
|
197
|
|
376
|
|
|
|
|
|
As at
|
|||
|
As at 30 June
|
|
As at 30 June
|
|
31 December
|
|||
|
2023
|
|
2022
|
|
2022
|
|||
|
Book value
|
Fair value (i)
|
|
Book value
|
Fair value (i)
|
|
Book value
|
Fair value (i)
|
|
Unaudited
|
|
Unaudited
|
|
Audited
|
|||
Net debt
|
$m
|
$m
|
|
$m
|
$m
|
|
$m
|
$m
|
Non-current assets
|
|
|
|
|
|
|
|
|
Derivative financial instruments
|
3
|
3
|
|
5
|
5
|
|
3
|
3
|
Current assets
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
4,275
|
4,275
|
|
6,826
|
6,826
|
|
5,936
|
5,936
|
Derivative financial instruments
|
8
|
8
|
|
112
|
112
|
|
39
|
39
|
Non-current liabilities
|
|
|
|
|
|
|
|
|
Interest-bearing loans and borrowings
|
(7,563)
|
(6,980)
|
|
(8,584)
|
(8,253)
|
|
(8,145)
|
(7,517)
|
Lease liabilities
|
(1,081)
|
(1,081)
|
|
(1,014)
|
(1,014)
|
|
(1,059)
|
(1,059)
|
Derivative financial instruments
|
(83)
|
(83)
|
|
(26)
|
(26)
|
|
(77)
|
(77)
|
Current liabilities
|
|
|
|
|
|
|
|
|
Interest-bearing loans and borrowings
|
(2,185)
|
(2,172)
|
|
(1,364)
|
(1,370)
|
|
(1,491)
|
(1,484)
|
Lease liabilities
|
(266)
|
(266)
|
|
(246)
|
(246)
|
|
(260)
|
(260)
|
Derivative financial instruments
|
(39)
|
(39)
|
|
(8)
|
(8)
|
|
(51)
|
(51)
|
Group net debt
|
(6,931)
|
(6,335)
|
|
(4,299)
|
(3,974)
|
|
(5,105)
|
(4,470)
|
|
|
|
|
|
As at
|
|||
|
As at 30 June
|
|
As at 30 June
|
|
31 December
|
|||
|
2023
|
|
2022
|
|
2022
|
|||
|
Unaudited
|
|
Unaudited
|
|
Audited
|
|||
Gross debt, net of derivatives, matures as follows:
|
|
$m
|
|
|
$m
|
|
|
$m
|
Within one year
|
|
2,482
|
|
|
1,506
|
|
|
1,763
|
Between one and two years
|
|
1,503
|
|
|
1,323
|
|
|
881
|
Between two and three years
|
|
164
|
|
|
1,391
|
|
|
1,403
|
Between three and four years
|
|
1,823
|
|
|
116
|
|
|
920
|
Between four and five years
|
|
1,003
|
|
|
1,755
|
|
|
982
|
After five years
|
|
4,231
|
|
|
5,034
|
|
|
5,092
|
Total
|
|
11,206
|
|
|
11,125
|
|
|
11,041
|
|
|
|
|
|
As at
|
|||
|
As at 30 June
|
|
As at 30 June
|
|
31 December
|
|||
|
2023
|
|
2022
|
|
2022
|
|||
|
Unaudited
|
|
Unaudited
|
|
Audited
|
|||
|
|
$m
|
|
|
$m
|
|
|
$m
|
Cash and cash equivalents
|
4,275
|
|
6,826
|
|
5,936
|
|||
Interest-bearing loans and borrowings
|
(9,748)
|
|
(9,948)
|
|
(9,636)
|
|||
Lease liabilities
|
(1,347)
|
|
(1,260)
|
|
(1,319)
|
|||
Derivative financial instruments (net)
|
(111)
|
|
83
|
|
(86)
|
|||
Group net debt
|
(6,931)
|
|
(4,299)
|
|
(5,105)
|
|||
|
|
|
|
|
|
|
|
|
Reconciliation of opening to closing net debt
|
|
|
|
Mark-to-
|
|
|
|
|
|
|
Movement
|
Movement
|
market
|
|
|
|
At 1
|
|
attributable
|
attributable
|
and other
|
|
At 30
|
|
January
|
Cash
|
to acquired
|
to disposed
|
non-cash
|
Translation
|
June
|
|
Book value
|
flow
|
companies
|
companies
|
adjustments
|
adjustment
|
Book value
|
30 June 2023 (unaudited)
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
Cash and cash equivalents
|
5,936
|
(1,768)
|
15
|
-
|
-
|
92
|
4,275
|
|
|
|
|
|
|
|
|
Interest-bearing loans and borrowings
|
(9,636)
|
(6)
|
(10)
|
-
|
3
|
(99)
|
(9,748)
|
Lease liabilities
|
(1,319)
|
127
|
(5)
|
-
|
(129)
|
(21)
|
(1,347)
|
Derivative financial instruments (net)
|
(70)
|
(4)
|
-
|
-
|
(3)
|
(4)
|
(81)
|
Liabilities from financing activities
|
(11,025)
|
117
|
(15)
|
-
|
(129)
|
(124)
|
(11,176)
|
Derivative financial instruments - non-financing
|
(16)
|
(7)
|
-
|
-
|
7
|
(14)
|
(30)
|
Group net debt
|
(5,105)
|
(1,658)
|
-
|
-
|
(122)
|
(46)
|
(6,931)
|
|
|
|
|
|
|
|
|
The equivalent disclosure for the prior period is as
follows:
|
|||||||
|
|
|
|
|
|
|
|
30 June 2022 (unaudited)
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
5,783
|
1,294
|
10
|
(28)
|
-
|
(233)
|
6,826
|
Interest-bearing loans and borrowings
|
(10,487)
|
(49)
|
(4)
|
6
|
109
|
477
|
(9,948)
|
Lease liabilities
|
(1,671)
|
132
|
(30)
|
341
|
(90)
|
58
|
(1,260)
|
Derivative financial instruments (net)
|
122
|
31
|
-
|
-
|
(35)
|
(35)
|
83
|
Group net debt
|
(6,253)
|
1,408
|
(24)
|
319
|
(16)
|
267
|
(4,299)
|
|
|
|
|
|
As at
|
|||
|
As at 30 June
|
|
As at 30 June
|
|
31 December
|
|||
|
2023
|
|
2022
|
|
2022
|
|||
|
Unaudited
|
|
Unaudited
|
|
Audited
|
|||
|
|
$m
|
|
|
$m
|
|
|
$m
|
Market capitalisation - Euronext Dublin (i)
|
39,908
|
|
26,037
|
|
29,462
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at
|
|||
|
As at 30 June
|
|
As at 30 June
|
|
31 December
|
|||
|
2023
|
|
2022
|
|
2022
|
|||
|
Unaudited
|
|
Unaudited
|
|
Audited
|
|||
|
|
$m
|
|
|
$m
|
|
|
$m
|
Between two and three years
|
|
-
|
|
|
36
|
|
|
-
|
Between three and four years
|
|
-
|
|
|
3,637
|
|
|
3,736
|
Between four and five years
|
|
3,799
|
|
|
-
|
|
|
9
|
Total
|
|
3,799
|
|
|
3,673
|
|
|
3,745
|
|
Continuing Operations
|
|||||||
|
|
|
|
|
As at
|
|||
|
As at 30 June
|
|
As at 30 June
|
|
31 December
|
|||
|
2023
|
|
2022
|
|
2022
|
|||
|
Unaudited
|
|
Unaudited
|
|
Unaudited
|
|||
Net debt as a percentage of market capitalisation
|
|
17%
|
|
|
17%
|
|
|
17%
|
Net debt as a percentage of total equity
|
|
32%
|
|
|
20%
|
|
|
23%
|
|
Level 2 (i)
|
|
Level 3 (i)
|
||||||
|
|
|
As at
|
|
|
|
As at
|
||
|
As at 30 June
|
|
31 December
|
|
As at 30 June
|
|
31 December
|
||
|
2023
|
2022
|
|
2022
|
|
2023
|
2022
|
|
2022
|
|
Unaudited
|
|
Audited
|
|
Unaudited
|
|
Audited
|
||
|
$m
|
$m
|
|
$m
|
|
$m
|
$m
|
|
$m
|
Assets measured at fair value
|
|
|
|
|
|
|
|
|
|
Fair value hedges - interest rate swaps
|
-
|
5
|
|
6
|
|
-
|
-
|
|
-
|
Cash flow hedges - currency forwards, currency swaps, commodity
forwards and commodity swaps
|
6
|
107
|
|
20
|
|
-
|
-
|
|
-
|
Net investment hedges - currency forwards and currency
swaps
|
2
|
3
|
|
15
|
|
-
|
-
|
|
-
|
Not designated as hedges (classified as held for trading) -
currency forwards and currency swaps
|
3
|
2
|
|
1
|
|
-
|
-
|
|
-
|
Total
|
11
|
117
|
|
42
|
|
-
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
Liabilities measured at fair value
|
|
|
|
|
|
|
|
|
|
Fair value hedges - interest rate swaps
|
(82)
|
(26)
|
|
(77)
|
|
-
|
-
|
|
-
|
Cash flow hedges - currency forwards, currency swaps, commodity
forwards and commodity swaps
|
(17)
|
(1)
|
|
(43)
|
|
-
|
-
|
|
-
|
Net investment hedges - currency forwards and currency
swaps
|
(20)
|
(1)
|
|
(8)
|
|
-
|
-
|
|
-
|
Not designated as hedges (classified as held for trading) -
currency forwards and currency swaps
|
(3)
|
(6)
|
|
-
|
|
-
|
-
|
|
-
|
Contingent consideration
|
-
|
-
|
|
-
|
|
306
|
306
|
|
293
|
Total
|
(122)
|
(34)
|
|
(128)
|
|
306
|
306
|
|
293
|
|
|
|
Year ended
|
||
|
Six months ended 30 June
|
|
31 December
|
||
|
2023
|
|
2022
|
|
2022
|
|
Unaudited
|
|
Unaudited
|
|
Audited
|
|
$m
|
|
$m
|
|
$m
|
Contracted for but not provided in the Condensed Consolidated
Interim Financial Statements
|
854
|
|
660
|
|
862
|
|
|
|
Year ended
|
||
|
Six months ended 30 June
|
|
31 December
|
||
|
2023
|
|
2022
|
|
2022
|
|
Unaudited
|
|
Unaudited
|
|
Audited
|
|
$m
|
|
$m
|
|
$m
|
ASSETS
|
|
|
|
|
|
Non-current assets
|
|
|
|
|
|
Property, plant and equipment
|
130
|
|
312
|
|
906
|
Intangible assets
|
41
|
|
65
|
|
987
|
Equity accounted investments
|
-
|
|
28
|
|
28
|
Total non-current assets
|
171
|
|
405
|
|
1,921
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
Inventories
|
12
|
|
67
|
|
375
|
Trade and other receivables (i)
|
7
|
|
45
|
|
227
|
Current income tax recoverable
|
1
|
|
-
|
|
-
|
Cash and cash equivalents
|
15
|
|
10
|
|
22
|
Total current assets
|
35
|
|
122
|
|
624
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
Trade and other payables
|
(32)
|
|
(35)
|
|
(195)
|
Provisions for liabilities
|
(2)
|
|
-
|
|
(19)
|
Lease liabilities
|
(5)
|
|
(30)
|
|
(107)
|
Interest-bearing loans and borrowings
|
(10)
|
|
(4)
|
|
(8)
|
Deferred income tax liabilities
|
(14)
|
|
(8)
|
|
(247)
|
Total liabilities
|
(63)
|
|
(77)
|
|
(576)
|
|
|
|
|
|
|
Total identifiable net assets at fair value
|
143
|
|
450
|
|
1,969
|
Goodwill arising on acquisition (ii)
|
78
|
|
453
|
|
1,320
|
Total consideration
|
221
|
|
903
|
|
3,289
|
|
|
|
|
|
|
Consideration satisfied by:
|
|
|
|
|
|
Cash payments
|
213
|
|
896
|
|
3,275
|
Deferred consideration (stated at net present cost)
|
6
|
|
1
|
|
10
|
Contingent consideration
|
2
|
|
6
|
|
4
|
Total consideration
|
221
|
|
903
|
|
3,289
|
|
|
|
|
|
|
Net cash outflow arising on acquisition
|
|
|
|
|
|
Cash consideration
|
213
|
|
896
|
|
3,275
|
Less: cash and cash equivalents acquired
|
(15)
|
|
(10)
|
|
(22)
|
Total outflow in the Consolidated Statement of Cash
Flows
|
198
|
|
886
|
|
3,253
|
|
Six months ended 30 June - Unaudited
|
|||||||
|
Number of
|
|
Goodwill
|
|
Consideration
|
|||
|
acquisitions
|
|
|
|||||
|
2023
|
2022
|
|
2023
|
2022
|
|
2023
|
2022
|
Reportable segments
|
|
|
|
$m
|
$m
|
|
$m
|
$m
|
Continuing operations
|
|
|
|
|
|
|
|
|
Americas Materials Solutions
|
3
|
5
|
|
11
|
120
|
|
28
|
318
|
Americas Building Solutions
|
-
|
2
|
|
-
|
337
|
|
-
|
485
|
Europe Materials Solutions
|
3
|
7
|
|
1
|
37
|
|
44
|
99
|
Europe Building Solutions
|
2
|
-
|
|
72
|
-
|
|
150
|
-
|
Total Group from continuing operations
|
8
|
14
|
|
84
|
494
|
|
222
|
902
|
Adjustments to provisional fair values of prior period
acquisitions
|
|
|
|
(6)
|
(41)
|
|
(1)
|
1
|
Total
|
|
|
|
78
|
453
|
|
221
|
903
|
|
|
|
|
|
|
|
|
|
|
Unaudited
|
||
|
Six months ended 30 June
|
||
|
2023
|
|
2022
|
Continuing operations
|
$m
|
|
$m
|
Revenue
|
46
|
|
107
|
(Loss)/profit before tax for the financial period
|
(2)
|
|
3
|
|
Unaudited
|
||||
|
|
|
CRH Group
|
|
Consolidated
|
|
2023
|
|
excluding 2023
|
|
Group including
|
|
acquisitions
|
|
acquisitions
|
|
acquisitions
|
|
$m
|
|
$m
|
|
$m
|
Revenue
|
60
|
|
16,090
|
|
16,150
|
Profit before tax for the financial period
|
-
|
|
1,512
|
|
1,512
|
|
|
|
Year ended
|
||
|
Six months ended 30 June
|
|
31 December
|
||
|
2023
|
|
2022
|
|
2022
|
|
Unaudited
|
|
Unaudited
|
|
Audited
|
|
%
|
|
%
|
|
%
|
Eurozone
|
4.00
|
|
3.32
|
|
4.20
|
United States and Canada
|
5.15
|
|
4.81
|
|
5.20
|
Switzerland
|
1.80
|
|
2.14
|
|
2.20
|
|
Six months ended 30 June 2023 - Unaudited
|
||||||||
|
Assets
|
|
Liabilities
|
|
Total
|
|
Impact of asset ceiling
|
|
Net Pension Asset
|
|
$m
|
|
$m
|
|
$m
|
|
$m
|
|
$m
|
At 1 January
|
2,443
|
|
(2,371)
|
|
72
|
|
(88)
|
|
(16)
|
Administration expenses
|
(1)
|
|
-
|
|
(1)
|
|
-
|
|
(1)
|
Current service cost
|
-
|
|
(13)
|
|
(13)
|
|
-
|
|
(13)
|
Past service cost
|
-
|
|
(1)
|
|
(1)
|
|
|
|
(1)
|
Interest income on scheme assets
|
51
|
|
-
|
|
51
|
|
-
|
|
51
|
Interest cost on scheme liabilities
|
-
|
|
(51)
|
|
(51)
|
|
-
|
|
(51)
|
Remeasurement adjustments
|
|
|
|
|
|
|
|
|
|
- experience variations
|
-
|
|
(4)
|
|
(4)
|
|
-
|
|
(4)
|
- return on scheme assets excluding interest income
|
51
|
|
-
|
|
51
|
|
-
|
|
51
|
- actuarial loss from changes in financial assumptions
|
-
|
|
(42)
|
|
(42)
|
|
-
|
|
(42)
|
- change in asset ceiling, excluding amounts included in interest
expense
|
-
|
|
-
|
|
-
|
|
11
|
|
11
|
Employer contributions paid
|
18
|
|
-
|
|
18
|
|
-
|
|
18
|
Contributions paid by plan participants
|
3
|
|
(3)
|
|
-
|
|
-
|
|
-
|
Benefit and settlement payments
|
(65)
|
|
65
|
|
-
|
|
-
|
|
-
|
Translation adjustment
|
42
|
|
(40)
|
|
2
|
|
-
|
|
2
|
At 30 June (i)
|
2,542
|
|
(2,460)
|
|
82
|
|
(77)
|
|
5
|
Related net deferred income tax asset
|
|
|
|
|
|
|
|
|
20
|
Net pension asset
|
|
|
|
|
|
|
|
|
25
|
|
|
|
|
|
|
|
|
|
|
(i) Reconciliation to Condensed Consolidated Balance
Sheet
|
|
|
|
|
|
|
|
|
|
Retirement benefit assets
|
|
|
|
|
|
|
|
|
282
|
Retirement benefit obligations
|
|
|
|
|
|
|
|
|
(277)
|
Net pension asset
|
|
|
|
|
|
|
|
|
5
|
|
Six months ended 30 June 2022 - Unaudited
|
||||||||
|
Assets
|
|
Liabilities
|
|
Total
|
|
Impact of asset ceiling
|
|
Net Pension Asset
|
|
$m
|
|
$m
|
|
$m
|
|
$m
|
|
$m
|
At 1 January
|
3,174
|
|
(3,483)
|
|
(309)
|
|
-
|
|
(309)
|
Administration expenses
|
(1)
|
|
-
|
|
(1)
|
|
-
|
|
(1)
|
Current service cost
|
-
|
|
(24)
|
|
(24)
|
|
-
|
|
(24)
|
Interest income on scheme assets
|
26
|
|
-
|
|
26
|
|
-
|
|
26
|
Interest cost on scheme liabilities
|
-
|
|
(30)
|
|
(30)
|
|
-
|
|
(30)
|
Disposals
|
-
|
|
14
|
|
14
|
|
-
|
|
14
|
Remeasurement adjustments
|
|
|
|
|
|
|
|
|
|
- return on scheme assets excluding interest income
|
(450)
|
|
-
|
|
(450)
|
|
-
|
|
(450)
|
- actuarial gain from changes in financial assumptions
|
-
|
|
832
|
|
832
|
|
-
|
|
832
|
- change in asset ceiling, excluding amounts included in interest
expense
|
-
|
|
-
|
|
-
|
|
(85)
|
|
(85)
|
Employer contributions paid
|
18
|
|
-
|
|
18
|
|
-
|
|
18
|
Contributions paid by plan participants
|
4
|
|
(4)
|
|
-
|
|
-
|
|
-
|
Benefit and settlement payments
|
(74)
|
|
74
|
|
-
|
|
-
|
|
-
|
Translation adjustment
|
(168)
|
|
165
|
|
(3)
|
|
-
|
|
(3)
|
At 30 June (i)
|
2,529
|
|
(2,456)
|
|
73
|
|
(85)
|
|
(12)
|
Related net deferred income tax asset
|
|
|
|
|
|
|
|
|
24
|
Net pension asset
|
|
|
|
|
|
|
|
|
12
|
|
|
|
|
|
|
|
|
|
|
(i) Reconciliation to Condensed Consolidated Balance
Sheet
|
|
|
|
|
|
|
|
|
|
Retirement benefit assets
|
|
|
|
|
|
|
|
|
284
|
Retirement benefit obligations
|
|
|
|
|
|
|
|
|
(296)
|
Net pension deficit
|
|
|
|
|
|
|
|
|
(12)
|
|
Continuing Operations
|
||||
|
|
|
Year ended
|
||
|
Six months ended 30 June
|
|
31 December
|
||
|
2023
|
|
2022
|
|
2022
|
|
Unaudited
|
|
Unaudited
|
|
Audited
|
|
$m
|
|
$m
|
|
$m
|
Group profit for the financial period
|
1,178
|
|
938
|
|
2,684
|
Income tax expense - estimated at interim
|
332
|
|
265
|
|
785
|
Profit before tax
|
1,510
|
|
1,203
|
|
3,469
|
Share of equity accounted investments' profit
|
(7)
|
|
(8)
|
|
-
|
Other financial expense
|
20
|
|
20
|
|
40
|
Finance costs less income
|
127
|
|
177
|
|
336
|
Profit before finance costs
|
1,650
|
|
1,392
|
|
3,845
|
(Profit)/loss on disposals
|
(23)
|
|
(7)
|
|
49
|
Group operating profit
|
1,627
|
|
1,385
|
|
3,894
|
Depreciation charge
|
824
|
|
795
|
|
1,618
|
Amortisation of intangibles
|
69
|
|
30
|
|
103
|
EBITDA
|
2,520
|
|
2,210
|
|
5,615
|
|
|
|
Year ended
|
|
31 December
|
|
2022
|
|
$m
|
Net Debt
|
|
Cash and cash equivalents (i)
|
5,936
|
Interest-bearing loans and borrowings (i)
|
(9,636)
|
Lease liabilities (i)
|
(1,319)
|
Derivative financial instruments (net) (i)
|
(86)
|
Group net debt (i)
|
(5,105)
|
|
|
EBITDA - from continuing operations
|
5,615
|
|
|
|
Times
|
Net debt divided by EBITDA - from continuing
operations
|
0.9
|
|
|
|
CRH public limited company
|
|
(Registrant)
|
|
|
Date 24
August 2023
|
|
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By:___/s/Neil
Colgan___
|
|
N.Colgan
|
|
Company Secretary
|