The Ireland-headquartered business adds that the increase was driven by commercial progress across all lines of business which more than offset the impact of unfavourable weather conditions on activity levels in this seasonally less significant quarter.
First quarter aggregates volumes in the Americas were 3% behind 2021, impacted by adverse weather conditions in the Northeast, Great Lakes and West divisions; average year-to-date prices increased by 7%.
Asphalt volumes in the region were 19% ahead in Q1 as the benefit of acquisitions offset the negative impact of weather and timing of projects; average prices increased 8%.
Readymixed Concrete (RMC) volumes in the Americas were 6% behind as poor weather conditions in the Northeast, Great Lakes and West divisions offset the more favourable conditions in the South; average prices were 12% ahead with increases across all regions.
Sales in CRH's paving and construction services business were 29% ahead of 2021 primarily driven by milder weather in the South division and the timing of a number of large projects in the West.
Cement volumes were in line with 2021 as strong demand in the central and southern regions was offset by weather-impacted performances in Canada and some western regions; prices were 11% ahead with good momentum in both the US and Canada.
Sales for CRH's Europe materials operations were 11% ahead of 2021 in the first quarter aided by strong demand and milder weather in most key markets.
UK & Ireland sales were well ahead of prior year reflecting good underlying demand and milder winter conditions. In the UK, price increases were implemented across all products with volume improvements also positively impacting sales. Our businesses in Ireland had a positive start to the year with volume increases in all key products against a prior year comparative impacted by COVID-19 restrictions.
Europe East (Poland, Ukraine, Romania, Hungary, Slovakia and Serbia) benefitted from milder winter conditions compared to the prior year combined with robust market demand. This resulted in higher volumes in most markets, particularly Poland and Romania. Activity levels in Ukraine had a strong start to the year but have since been impacted by the ongoing conflict. Prices increased across all markets.
The Europe North businesses (Finland, Germany and Switzerland) had a positive start to the year as milder winter weather conditions, improved activity levels and strong price increases resulted in higher sales.
Europe West (France, Benelux, Denmark and Spain) Q1 sales were ahead of the prior year primarily driven by France and Benelux. France benefited from solid demand, more favourable weather conditions and pricing improvements in all products while an increase in precast product sales positively impacted Benelux.
In Asia, sales in the Philippines were behind prior year as lower activity levels due to the upcoming presidential election were only partially offset by price improvements.
CRH says that total global first quarter sales for its building products were 22% ahead of the same period in 2021, reflecting continued delivery of its integrated solutions strategy, strong demand for residential construction, particularly in North America, along with continued recovery in certain non-residential segments and positive contributions from prior year acquisitions.
The company says it has made a positive start to the year, with good underlying demand. It adds that group sales, EBITDA (earnings before interest, taxes, depreciation and amortisation) & margin for the first half of 2022 are all expected to be ahead of the prior year.
CRH chief executive Albert Manifold commented: “The continued delivery of our solutions strategy resulted in a good start to the year. Although a number of challenges and uncertainties continue, our demand backdrop remains favourable and absent any major dislocations in the macroeconomic environment, we expect first-half sales, EBITDA and margin to be ahead of the prior year period.”
