CRH plc, the global building materials group, today announces a number of organisational and business improvement initiatives.
Leveraging our scale
CRH will establish a new global Building Products division effective 1 January 2019, bringing together our Europe Lightside, Europe Distribution and Americas Products divisions. Under the leadership of Keith Haas (currently President, Americas Products), this new platform will operate alongside our Americas Materials and Europe Materials divisions, leveraging our scale and network opportunities across our global products businesses.
David Dillon (currently President, Europe Lightside & Distribution) will assume a new role of President, Global Strategy & Business Development, reporting to the CEO.
Absent any major dislocations in the global economy or the input cost environment, we are targeting to improve the Group’s EBITDA margin by 300 basis points by 2021.
The Group is strongly cash generative and is targeting to have €7 billion of financial capacity over the next 4 years (after capex and dividends), providing significant opportunities for further value creation for our shareholders.
We have initiated a strategic review of our Europe Distribution business, focused on improving the margins and returns of the business, as well as exploring other strategic options.
Further details will be discussed by Group CEO Albert Manifold at the Bernstein Strategic Decisions Conference in New York at 3pm EST today. A copy of the presentation is attached and available on our website, crh.com.