CRH Public Ltd Co Files 2023 Annual Report on Form 10-K

TL;DR

<b>CRH Public Ltd Co has filed its 2023 10-K report detailing its financial performance and condition.</b>

AI Summary

CRH PUBLIC LTD CO (CRH) filed a Annual Report (10-K) with the SEC on February 29, 2024. CRH Public Ltd Co filed its annual report for the fiscal year ending December 31, 2023. The filing is a Form 10-K, indicating a comprehensive overview of the company's financial performance and condition. The company's Standard Industrial Classification is CEMENT, HYDRAULIC [3241]. CRH Public Ltd Co is incorporated in L2 and its fiscal year ends on December 31. The filing includes data for fiscal years 2021, 2022, and 2023, with financial information denominated in USD and EUR.

Why It Matters

For investors and stakeholders tracking CRH PUBLIC LTD CO, this filing contains several important signals. This 10-K filing provides investors with a detailed look at CRH's financial health, operational performance, and strategic positioning for the fiscal year 2023. Understanding the specifics within this report is crucial for assessing the company's stability, growth prospects, and potential risks in the cement and hydraulic products industry.

Risk Assessment

Risk Level: medium — CRH PUBLIC LTD CO shows moderate risk based on this filing. The company operates in the CEMENT, HYDRAULIC [3241] industry, which can be subject to cyclical demand and regulatory changes, as indicated by its SIC code and the nature of a 10-K filing.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to assess CRH's performance and outlook for the upcoming fiscal year.

Key Numbers

• 20231231 — Fiscal Year End (Conformed Period of Report)
• 20240229 — Filing Date (Filed As of Date)
• 173 — Public Document Count (Number of documents in the filing)
• 3241 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• CRH PUBLIC LTD CO (company) — Filer name
• 0000849395 (company) — Central Index Key
• CEMENT, HYDRAULIC [3241] (company) — Standard Industrial Classification
• L2 (company) — State of Incorporation
• DUBLIN 16 (company) — Business Address City
• 353 1 404 1000 (company) — Business Phone
• 20231231 (date) — Conformed Period of Report
• 20240229 (date) — Filed As of Date

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-29: Filing Date — Date the 10-K was officially filed with the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), that gives a comprehensive summary of a company's financial performance. (Provides investors with a detailed overview of CRH's financial health and operations for the fiscal year.)

SIC Code

Standard Industrial Classification code used to classify businesses by industry. (Identifies CRH's primary business sector as CEMENT, HYDRAULIC [3241].)

Key Financial Figures

• $34.9 billion — r world. In 2023, the Company generated $34.9 billion of revenues, $3.1 billion of net income
• $3.1 billion — ny generated $34.9 billion of revenues, $3.1 billion of net income and $6.2 billion of Adjus
• $6.2 billion — evenues, $3.1 billion of net income and $6.2 billion of Adjusted EBITDA*. 1 Since formation
• $0.7 billion — quisitions for a total consideration of $0.7 billion compared with $3.3 billion in 2022. The
• $3.3 billion — ideration of $0.7 billion compared with $3.3 billion in 2022. The largest acquisition in 202
• $250 million — tainable built environment. Through our $250 million Venturing and Innovation Fund we are su
• $13.9 b — nhanced sustainability attributes 1 was $13.9 billion, an increase of 10% compared with

Filing Documents

• crh-20231231.htm (10-K) — 3256KB
• exhibit44-descriptionofsec.htm (EX-4.4) — 121KB
• exhibit101multicurrencyfac.htm (EX-10.1) — 1727KB
• exhibit102amendmentandrest.htm (EX-10.2) — 307KB
• exhibit107rulesofthecrhplc.htm (EX-10.7) — 138KB
• exhibit211-principalsubsid.htm (EX-21.1) — 141KB
• exhibit221-listofguarantor.htm (EX-22.1) — 2KB
• exhibit231consentofindepen.htm (EX-23.1) — 2KB
• exhibit311-section302certi.htm (EX-31.1) — 12KB
• exhibit312-section302certi.htm (EX-31.2) — 12KB
• exhibit321-section906certi.htm (EX-32.1) — 7KB
• exhibit322-section906certi.htm (EX-32.2) — 7KB
• exhibit951-disclosureofmsh.htm (EX-95.1) — 3196KB
• exhibit971-usincentivexbas.htm (EX-97.1) — 23KB
• crh-20231231_g1.jpg (GRAPHIC) — 53KB
• crh-20231231_g2.jpg (GRAPHIC) — 1500KB
• crh-20231231_g3.jpg (GRAPHIC) — 1683KB
• crh-20231231_g4.jpg (GRAPHIC) — 71KB
• formula2a.jpg (GRAPHIC) — 10KB
• formulaa.jpg (GRAPHIC) — 10KB
• 0001628280-24-007773.txt (&nbsp;) — 32145KB
• crh-20231231.xsd (EX-101.SCH) — 102KB
• crh-20231231_cal.xml (EX-101.CAL) — 203KB
• crh-20231231_def.xml (EX-101.DEF) — 669KB
• crh-20231231_lab.xml (EX-101.LAB) — 1298KB
• crh-20231231_pre.xml (EX-101.PRE) — 1010KB
• crh-20231231_htm.xml (XML) — 3150KB

Risk Factors

Item 1A Risk Factors 10

Unresolved Staff Comments

Item 1B Unresolved Staff Comments 16

Cyber security

Item 1C Cyber security 17

Properties

Item 2 Properties 18

Legal Proceedings

Item 3 Legal Proceedings 24

Mine Safety Disclosures

Item 4 Mine Safety Disclosures 24 PART II

Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5 Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 25

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations 28

Quantitative and Qualitative Disclosures a bout Market Risk

Item 7A Quantitative and Qualitative Disclosures a bout Market Risk 47

Financial Statements and Supplementary Data

Item 8 Financial Statements and Supplementary Data 48

Changes in and Disagreements w ith Accountants on Accounting and Financial Disclosures

Item 9 Changes in and Disagreements w ith Accountants on Accounting and Financial Disclosures 100

Controls and Procedures

Item 9A Controls and Procedures 100

Other Information

Item 9B Other Information 101

Disclosures Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C Disclosures Regarding Foreign Jurisdictions that Prevent Inspections 101 PART III

Directors, Executive Officers and Corporate Governance

Item 10 Directors, Executive Officers and Corporate Governance 102

Executive Compensation

Item 11 Executive Compensation 102

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 102

Certain Relationships and Related Transactions, and Director Independence

Item 13 Certain Relationships and Related Transactions, and Director Independence 102

Principal Accountant Fees and Services

Item 14 Principal Accountant Fees and Services 102 PART IV

Exhibits and Financial Statement Schedules

Item 15 Exhibits and Financial Statement Schedules 103

Form 10-K Summary

Item 16 Form 10-K Summary 104

Signatures

Signatures 105 CRH Form 10-K 1

Forward Looking Statements – Safe Harbor Provisions Under The Private Securities Litigation Reform Act Of 1995

Forward Looking Statements – Safe Harbor Provisions Under The Private Securities Litigation Reform Act Of 1995 In order to utilize the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995, CRH is providing the following cautionary statement. This document contains statements that are, or may be deemed to be, forward-looking statements with respect to the financial condition, results of operations, business, viability and future performance of CRH and certain of the plans and objectives of CRH. These forward-looking statements may generally, but not always, be identified by the use of words such as "will", "anticipates", "should", "could", "would", "targets", "aims", "may", "continues", "expects", "is expected to", "estimates", "believes", "intends" or similar expressions. These forward-looking statements include all matters that are not historical facts or matters of fact at the date of this document. In particular, the following, among other statements, are all forward-looking in nature: plans and expectations regarding customer demand, pricing, costs, underlying drivers for growth in infrastructure, residential and non-residential activity, and macroeconomic and other trends in CRH's markets, including onshoring, regulatory trends, and investment in technology, clean energy and manufacturing; plans and expectations regarding government funding initiatives and priorities, including the timing and amount of government funding and its effects on CRH's business; plans and expectations regarding CRH's strategy, expansionary capital expenditures, competitive advantages, growth opportunities, innovation, research and development and acquisitions and divestments, including the timing for completion, tax and accounting effects and expected commercial benefits; plans and expectations regarding the outcome of pending legal proceedings and provisions for environmental and remediation costs; plans and expectations regarding the timi

Business

Item 1. Business Overview CRH is a leading provider of building materials solutions that build, connect and improve our world. In 2023, the Company generated $34.9 billion of revenues, $3.1 billion of net income and $6.2 billion of Adjusted EBITDA*. 1 Since formation in 1970, CRH has evolved from being a supplier of base materials to providing end-to-end value-added solutions that solve complex construction challenges for our customers. CRH works closely with the customer across the entire project lifecycle from planning, design, manufacture, installation and maintenance through to end-of-life recycling, using our engineering and innovation expertise to provide superior materials, products and services. The Company integrates essential materials (aggregates and cement), value-added building products as well as construction services, to provide our customers with complete end-to-end solutions. CRH's capabilities, innovation and technical expertise enable it to be a valuable partner for transportation and critical utility infrastructure projects, complex non-residential construction and outdoor living solutions. CRH's business addresses the needs of customers across infrastructure, non-residential and residential construction markets. In 2023, approximately 35% of revenues came from infrastructure (such as highways, streets, roads, bridges, and critical utility infrastructure), 30% from non-residential construction (including construction and maintenance of manufacturing, datacenter and distribution facilities) and 35% from residential construction. 55% of revenues came from sales to new-build construction, while 45% of revenues came from repair and remodel activity. Operating in 29 countries, the Company has market leadership positions in North America and Europe. In 2023, 72% of net income and 73% of Adjusted EBITDA* was generated in North America. The United States is expected to be a key driver of future growth for CRH due to continued economic expansion, a g

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View this 10-K filing on SEC EDGAR