Share Name Share Symbol Market Type Share ISIN Share Description
Crh Plc LSE:CRH London Ordinary Share IE0001827041 ORD EUR 0.32
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  57.00 1.94% 2,994.00 3,002.00 3,004.00 3,032.00 2,940.00 2,941.00 1,237,154 16:35:07
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 21,265.1 1,789.8 203.7 13.8 23,502

Crh Share Discussion Threads

Showing 301 to 323 of 350 messages
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Company: CRH Prior Post(s): 2012 & 2013 Ticker: CRH:ID Price: EUR 20.98 2013 wasn't a great year for CRH – the new CEO, Albert Manifold, has inherited an uphill task (& a stretched balance sheet) from veteran Myles Lee. Total revenue fell marginally – again, weak trading in Europe was the culprit, but it's notable CRH's (2012) US momentum has mostly dissipated (with revenue up just 2%). Europe had a more pronounced (negative) impact on profitability, with CRH's underlying operating profit margin falling to just 4.0%. [This performance also prompted a 2013 portfolio review, resulting in a EUR 0.6 billion write-down & a plan to divest 45 (primarily European) business units]. Fortunately, this kind of stagnation often benefits the cash flow statement – something we can reasonably expect again in 2014 – for 2013, this resulted in a 5.6% operating free cash flow (Op FCF) margin. For valuation purposes, I'll still assume we'll see an eventual convergence towards CRH's long-term margins of almost 10% – so let's utilize an average 7.8% margin here. However, it's worth highlighting fresh anxieties over Chinese/emerging market growth mean the timing of this convergence has become that much more uncertain... On the other hand, CRH is still the Irish blue chip for domestic & international investors (well, even though it's not very Irish...) – so I'll continue to assign a 0.7 P/S multiple. But leverage remains a big problem – EUR 255 million of net interest expense is a whopping 35% of adjusted operating profit. But let's be generous here & focus on CRH's Op FCF of just over EUR 1.0 B instead...unfortunately, net interest's still over 25% of this figure. I calculate total debt (of 5.5 B) would need to be reduced by about 39%, to limit net interest to 15% of Op FCF – therefore, we'll include a 2.1 B (negative) debt adjustment in our valuation, plus a 336 M adjustment for the net pension deficit. However, cash has now accumulated to a rather ridiculous 2.5 B – I suspect management will opt for ample liquidity, but it seems reasonable to assume 50% of this cash will be used to offset debt balances/maturities. Put all this together & we have: (EUR 18.0 B Revenue * 0.7 P/S + 2.5 B Cash * 50% – 2.1 B Debt Adjustment – 0.3 B Net Pension Deficit) / 735 M Shares = EUR 15.53 CRH remains pretty over-valued. I suspect there's a potential takeover premium embedded in the price – considering the Holcim-Lafarge merger news, we may be on the verge of a new wave of consolidation. If that's the case, CRH is a mere morsel – shareholders often seem to presume it's a global player, but in reality it barely cracks the top 40 largest cement companies. Meanwhile, shareholders probably face another tough year...and it might prove tempting for the new CEO to indulge in another kitchen-sink job this year, or to even consider a rights issue. Price Target: EUR 15.53 Upside/(Downside): (26)%
Construction and materials Housebuilders have had a good run during the earlier stages of the cycle and now it is the turn of the companies that make and distribute materials for the wider construction sector, building not just houses but commercial property and infrastructure projects. CRH is a major producer of cement, concrete products and asphalt, and operates in 36 countries. Stephen Williams, of Brewin Dolphin the stockbroker, says the company is in a strong position. It cut costs during the downturn and is in the process of disposing of a raft of businesses that do not meet its targets on financial returns. Wolseley is the world's largest distributor of plumbing supplies and building materials. After nearly going bust when the housing market collapsed in 2008, the company has been able to stage a strong recovery, and Mr Williams says: "A combination of a recovery in some of its markets, such as infrastructure, and its new improved business models offer the prospect of above-average growth in earnings." Times
Yes you could.
Could you really get a better LONG TERM uptrend? Pretty cool eh.
Well worth putting this on the hot watch list. Should see further upside within the uptrend channel. Wait for positive confirmation in the market before entering.
mechanical trader
agreed,great hold,great trade
Just look at that graph. Great FTSE 100 company
JP Morgan have just increased their holding from 3% to 5.81%.CRH is a class company
800,000 late trade (from 15.05 hrs) reported. Look at the graph from 15.00 hrs onwards,
Irish Sunday Independent 30th June 2013 report takeover rumours for CRH.
Class company
hi volume today
I notice LBO you have'nt published any of your poisonous snippets from todays media reports about the Competition Commission's investigation into price fixing in the uk cement business....does'nt mention CRH tho'
2013 – The Great Irish Share Valuation Project (Part XI) I take a look at CRH, plus a batch of other Irish stocks: Cheers, Wexboy
Tricky to call right now. I rode the 1090 to 1290 spike long at end of august/early sept and am now looking to re-enter at 1090. I thought we'd see it today with a general market pull-back on the back of an unimpressive IMS, but not to be. Missed an opportunity last week when it hit 1094 which would have yielded a good 100 points. So will keep my powder dry until we hit 1090 again and then I'll be in long. Am a bit worried this time that it may go as low as 1000 but can't see it lower than that. Nice share to bet on!
To many negatives in the IMS....falling revenues in the Americas joining the known falling revenues in Europe....I am in SHORT at 1130p. All my own views of course. DYOR.
Looking like a good recovery play
Plans 49% Stake In Yatai CRH : Set To Build On Yatai Cement Stake In China Irish building materials group CRH PC (CRH.DB) said at its annual meeting Wednesday it planned to increase its stake in the Yatai cement business in China to 49% from 26% as part of a wider push into emerging markets, the Financial Times newspaper reported on its website. Chief Executive Myles Lee said CRH was preparing to exercise an option, opening in January 2013, to raise the stake, the report said. "We are setting the scene at the moment for that and we are keen to increase that stake. Obviously in everything valuation is key, so it has to be at a valuation that makes sense for our shareholders," the report quote Lee as saying. Read the full story in the Financial Times here: P.S. Here's a couple of links about SCLP, one of the hottest stocks at the moment:
CRH's Giant €574m Windfall! CRH Gets Windfall Of €574m As Portuguese Firm Buys Out Stake Portuguese firm Semapa has agreed to pay CRH €574m for a stake the Irish group owns in a joint venture between the two companies. A Paris-based international arbitration tribunal ruled last year that CRH had to sell its 49pc stake in Portuguese cement maker Secil. CRH and Semapa had been at loggerheads since 2009, when Semapa claimed that it was entitled to exercise an option that would allow it to acquire the Irish firm's stake in the joint venture. CRH paid €429m to Semapa in 2004 to buy a 49pc stake in Secil. That included the assumption of €100m in debt. After the firms later bickered about entitlements, the matter was referred to the International Chamber of Commerce for a final resolution. CRH had strongly believed its stance -- which rejected Semapa's claim it was entitled to fully acquire Secil -- would be vindicated. Semapa confirmed yesterday that it will now buy the CRH stake by May 15. While it appeared that CRH may have lost out, it has quite possibly had a lucky escape. Economy Portugal, which was bailed out last year, has been struggling to get back on track. While its unemployment rate is broadly similar to Ireland's, at 14pc, it lacks a broad industrial business base. Portugal's economy is expected to contract 3.3pc this year. The amount being paid by Semapa represents a multiple of 11.5 times earnings in a sector where multiples are currently running at about 6.5 times earnings. "This is a significant positive for CRH," said analyst Barry Dixon at Davy Stockbrokers. "Not only does it remove a business that is struggling, but it further strengthens the company's balance sheet, giving it the firepower to invest in faster-growing businesses and economies." He added that the sale of the stake would have a "significant impact" on CRH's balance sheet. Shares in CRH were trading 2pc higher by yesterday afternoon in London.
Sales To Grow In 2012 CRH Expects Similar First-Half Sales To 2011 BUILDING MATERIALS group CRH expects earnings in the first half of this year to be similar to 2011, following a slow start in its European businesses. The group told shareholders at its agm yesterday that, by the end of April, sales were 2 per cent ahead of last year. However, CRH said a slow start in its European businesses left earnings before interest, tax and write-offs – a measure of the cash flow the company generates – lagging 2011. Against this background, and given normal weather conditions in the US over the next two months, when its materials operations gear up for their busiest time of year, the group expects earnings to be close to the €574 million returned in the first half of 2011. "With incrementally more positive US economic data and construction prospects for 2012 mitigating a more cautious view on the outlook in Europe, we continue, subject to no major financial or energy market dislocations, to expect overall like-for-like sales growth in 2012," CRH said. The group said that the exceptionally cold February hit trade in Europe. "This resulted in a like-for-like sale decline of approximately 6 per cent for January-February," its statement added. CRH went on to say that the rate of decline slowed subsequently as the weather improved, leaving sales for the four months ended April 30th at 4 per cent behind 2011. By contrast, in the US, which is responsible for just over half its revenues, the group benefited from unusually mild weather in the early months of the year. Aided by this, and improving economic activity in the US, where most of its American businesses are based, its operations delivered an 11 per cent increase in sales. The group's sales are tied to construction activity in its markets, and that in turn can be affected by the weather. The group spent €230 million on acquisitions in the first four months of the year, purchasing businesses in Germany, Nebraska and Texas. Last year CRH switched its premier listing from Dublin to London. After yesterday's meeting, chief executive Myles Lee said that, as a result, the group had seen a 3-4 per cent increase in the number of index-tracking funds in its shareholder base. Nick Hartery succeeded Kieran McGowan as chairman of the group at yesterday's meeting. Mr Hartery is a former vice-president at multinational Dell's Europe, Middle East and Africa operations. Before that he held senior positions at Eastman Kodak and Verbatim.
Price will soon recover. One of the best FTSE companies s
The Board is recommending a final dividend of 44c per share, in line with the final dividend for 2010. This gives a total dividend of 62.5c for the year, maintained at last year's level. It is proposed to pay the final dividend on 14 May 2012 to shareholders registered at the close of business on 9 March 2012. S&P said the share price looked "stretched" relative to CRH's peers, given the absence of a significant sales recovery in its main markets of the US and Europe. Shares in CRH, which moved its primary listing to London from Dublin last year to broaden its investor base, closed down 26p at £13.42.
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