CRH Investor Presentation
2014 Media Pack
CRH Overview
CRH ………….….. a diversified, international building materials Group
Scale …….…..……. 35 countries; 3,400 locations; 76k employees; Sales €18Bn
Long-term …….… record of delivering superior shareholder return
Debt Rating ……. best in sector from S&P and Moodys
Market Cap .....… c€13Bn (c£11Bn); a sector leader worldwide
Indices ………...…. FTSE 100, ISEQ, Euro Stoxx 50, Euro Stoxx Select Div 30
Listed ……………….Dublin (ISE), London (LSE), and New York (NYSE)
Data as at 31 December 2013
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CRH – Creating Value Over the Long-term
• Outstanding long-term record of performance & growth
• Based on:
– Geographic, product, sector and end-use balance
– Creating leadership positions across 35 countries
– Strong cash generation emphasis
– Rigorous approach to capital allocation
– Distinct organisation / management approach
– Focus on shareholder returns and communications
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CRH Balance – Expanding Geographic Footprint
1980
1990
Ireland
W.Europe
2000
USA
2013
Emerging
Present in 35 countries ...
Strong positions in developed markets (85% EBITDA)
Growing presence in emerging economies (15% EBITDA)
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CRH Balance – Exposure to Multiple Demand Drivers
Materials
Products
Distribution
Cement & Aggregates
Asphalt & Paving
Readymixed Concrete
Products for
Construction Solutions
General Merchants
Specialised Distribution
Do-It-Yourself
Early Cycle
New
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Servicing the breadth of construction
Late Cycle
RMI
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CRH Balance – Supports Returns Through the Cycle
GDP
Growth
Relative Stability of Returns in Cyclical Markets
ROIC*
9%
15%
6%
10%
3%
5%
0%
1995
2000
2005
2010
2012
-3%
-6%
-5%
European Union GDP
*CRH Return on Invested Capital
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0%
2015
United States GDP
CRH ROIC
-10%
EU-27 and US GDP - IMF World Economic Outlook Database, April 2013
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CRH – Development Growth
• Balance remains the key
– By geography, sector end-use, new build vs. repair & maintenance (RMI)
• Continued “Build & Grow” approach
– Creating clustered groups of businesses
• Rigorous value-based approach to development
– The priority – superior long-term returns
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CRH – Leadership Positions
Western Europe
North America
Top 10 Cement
No. 1
Asphalt
Region Aggregates &
Leader RMC
No. 1 Concrete
No. 3
Aggregates
Top 3
RMC
No. 1
Concrete
Products
Building
Envelope®
Roofing/Siding
Distributor
No. 1
Top 3
Products
Construction
Accessories
B.Materials
Distribution
No. 2
Top 3
Developing
Economies
No. 1 Building Materials:
Poland
No. 1 Cement:
N-east China (26%)
No. 1 Cement:
Andhra Pradesh,
India (50%)
Data as at 31 December 2013
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CRH - Local, Regional & National Brands
USA
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Netherlands
Germany
Switzerland
France
UK
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CRH – A Sector Leader Worldwide
€35.0
Enterprise Value (Billions)
€30.0
€25.0
Current Mkt Cap
25%
32%
Net Debt
40%
€20.0
55%
€15.0
40%
18%
9%
€10.0
75%
68%
€5.0
60%
45%
60%
82%
91%
€0.0
St Gobain
Holcim
Lafarge
Cemex
H'berg
CRH
Wolseley
23%
18%
77%
82%
31%
69%
Vulcan
Martin
W'berger
No. 4 by Market Cap; No. 6 by Enterprise Value
EV as at 31 December 2013
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CRH Debt Metrics Amongst Best in Sector
8x
End December 2013 Net Debt / LTM EBITDA
6x
6.0x
5.0x
4x
2x
0x
CRH
1.9x
2.0x
BBB
BBB+
2.4x
2.5x
BBB
BBB
3.0x
3.2x
N/R
BB+
BB
B+
Company Reports (CRH on Restated basis); Davy, S&P
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CRH – A Sector Leader in CSR Performance
CRH continues to be ranked among sector leaders
by socially responsible investment rating agencies
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CRH Governance – Board Composition
• Majority of non-executive Directors
(10 non-executive + 3 executive Directors)
• Non-executive Chairman; 5 different nationalities
Ireland
•
•
•
•
•
•
A. Manifold*
M. Carton*
N. Hartery
D.N. O’Connor
H.A. McSharry
J.W. Kennedy
USA
• M.S. Towe*
• W.P. Egan
• D.A.
McGovern, Jr.
Germany
• U-H Felcht
Netherlands
• J.M. de Jong
• H.T. Rottinghuis
Switzerland
• E.J. Bärtschi
* Executive Director
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CRH – Broad International Shareholder Base
1%
• c.733m shares*
22%
17%
4%
• c.25,000 shareholders
16%
40%
• Long-term institutional investor base
Europe/Other
North America
UK
Ireland
Retail
Treasury
*Excluding Treasury Shares; 31 December 2013
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CRH – Financial Community Coverage
London
• UBS*, Bernstein, Berenberg, BoAML, Citigroup , CSFB , DB,
Exane BNP, Goldman Sachs, HSBC, ING, JPM Cazenove,
Jefferies Intl, MF Global, Morgan Stanley, RBS, Redburn
Dublin
• Davy*, Cantor Fitzgerald, Investec, Goodbody, Merrion Capital
Other
• Nomura (Dubai), Cheuvreux, Kepler, Oddo, Societe Generale,
Natixis, Raymond James (Paris), Longbow (USA)
* Corporate Broker
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CRH – Industry Peers
International
Materials Peers
International
Products &
Distribution
Peers
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Contact Us
CRH plc
Investor Relations
Belgard Castle
Clondalkin
Dublin 22
Ireland
Phone:
Fax:
Email:
Website:
+ 353 1 404 1000
+ 353 1 404 1007
ir@crh.com
www.crh.com
This presentation contains certain forward-looking statements as defined under US legislation. By their nature, such statements involve
uncertainty; as a consequence, actual results and developments may differ from those expressed in or implied by such statements depending on a
variety of factors including the specific factors identified in this presentation and other factors discussed in our Annual Report on Form 20-F filed
with the SEC.
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