By Padraic Halpin
DUBLIN (Reuters) -CRH forecast core profit growth of 6% to 12% in 2025 after the largest building materials producer in the United States and Europe on Wednesday posted 12% growth for 2024 on strong infrastructure and non-residential activity.
The Irish-based, U.S.-listed firm said it did not expect a let-up this year in those two key segments in North America, where it makes about 75% of its profit, with similar trends and some signs of residential recovery evident in Europe.
CRH has benefited in particular from an increase in public capital spending in the U.S. in recent years that is still filtering out into projects, and new CEO Jim Mintern said he expected that to continue under the Trump administration.
“The new secretary for transport, Secretary (Sean) Duffy, has come out early and says he wants to build big infrastructure and he wants to try and remove some of the bureaucracy. So we’re very happy to see that,” Mintern told Reuters.
Mintern, who was promoted from the role of chief financial officer at the end of last year, said CRH was not assuming any impact from potential tariffs in its 2025 guidance, noting that its heavy products very rarely cross borders.
He added that a rise in global protectionist trade policies could give a further boost to the “reshoring” of manufacturing facilities such as data centres, pharmaceutical plants and chip factories.
That trend has also been a recent boon for CRH, which is currently working on projects with Intel, Samsung Electronics, Ford and Micron Technology.
CRH expects 2025 full-year adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of $7.3 billion to $7.7 billion, up from $6.9 billion in 2024.
CRH’s latest record earnings fell within its previously forecasted range of $6.87 billion to $6.97 billion provided in November.
Full-year revenues at the industrial giant rose 2% to $35.6 billion, while its EBITDA margin climbed 180 basis points to 19.5%, increasing on an annual basis for the 11th successive year.
(Reporting by Padraic Halpin; Editing by Lisa Shumaker and Jamie Freed)
