Displaying items by tag: Ireland

Ireland: CRH has appointed Jim Mintern as group finance director with effect from 1 June 2021. He will also join the company’s board of directors at the same time. He succeeds Senan Murphy who is retiring.

Mintern, aged 54 years, is a chartered accountant and holds a Bachelor of Commerce degree from University College Dublin. He has over 30 years of experience in the building materials industry, nearly 20 years of which have been with CRH.

He joined CRH in Ireland as finance director for Roadstone in 2002 and since then has held several senior positions across the group, including country manager for Ireland and managing director of each of the Western and Eastern regions of our Europe Materials business. Mintern is an executive vice president of CRH and a member of the group’s Global Leadership Team. In his most recent role as chief of staff to the chief executive officer he worked with divisional and operational leadership, having oversight of group performance programmes and leading the planning and execution of some of the group’s recent large acquisitions including Ash Grove in North America in 2018.

Ireland: CRH’s consolidated earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 5% year-on-year on a like-for-like basis to US$4.6bn in 2020 from US$4.5bn in 2019. Sales fell by 2% to US$27.6bn from US$28.1bn. The group reported a net debt/EBITDA ratio of 1.3x, its lowest since 2010.

Chief executive officer Albert Manifold said, "Our 2020 performance is testament to the commitment of our people and the strength and resilience of our business model. Through the repositioning of our business in recent years and our relentless focus on continuous business improvement, we have delivered record levels of profitability, margins and cash generation. Although the near-term outlook remains uncertain, our unique portfolio of businesses together with the strength of our balance sheet leaves us well positioned to capitalise on the growth opportunities that lie ahead."

By division the group reported growth in its US cement sales volumes in 2020 on a like-for-like basis due to demand in the west, surpassing the negative effects of the coronavirus pandemic elsewhere. However, volumes fell in Canada, particularly in the first half of the year. In 2020, CRH adopted the Ash Grove brand for all its North American cement businesses, unifying 12 cement plants and 42 cement terminals under one brand. In Europe sales and earnings fell due to poor markets in the west despite better conditions on the east. The group noted that it grew its profit in the Philippines due to a strong recovery in the second half and cost savings despite plant shutdowns.

Ireland/UK: Mannok says that it has undertaken extensive preparatory measures to help its operations continue smoothly when the Brexit transition period ends on 31 December 2020. While keeping operations unchanged, the group has formed new legal entities such as Mannok GB, which will deal with UK customers. The group acknowledged that prices would depend on the future tariff arrangement between the UK and the EU, but would remain in line with market pricing. It added that the same effects would impacts competitors, who import significant amounts of raw materials from Europe.

The group said that it has been working closely with suppliers for over 18 months to ensure the security of its supply chains. It sources almost all raw materials for cement production from its own reserves.

Chief financial officer Dara O’Reilly said, “A key priority for us in all of this was to ensure that the service we can provide to our customers in a post-Brexit environment is as seamless as possible. We’ve made the changes to our structures; we’ve made the changes to how we operate and as a result of that, regardless of the outcome of the Brexit negotiations, we’re ready.”

Ireland: CRH recorded earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$3.40bn in the first nine months of 2020, up by 2% year-on-year on a like-for-like basis from the corresponding period of 2019. The company said that it now expects full-year EBITDA in 2020 to exceed 2019 levels on a like-for-like basis at over US$4.40bn. Sales fell by 3% to US$20.6b but group added that it had “continued strong cash generation.”

Chief executive officer (CEO) Albert Manifold said, “Markets continue to be impacted by the global pandemic and, while we have seen some lower activity levels, I am pleased to report further improvement in trading performance, with an advance in both profitability and margins. The outlook for the coming months remains uncertain and visibility is limited, however I am confident that we are well positioned for the challenges and opportunities that lie ahead.”

Ireland: Jim Culliton, a former chief executive officer (CEO) of CRH, has died. He originally started working for Roadstone before eventually becoming the CEO of the merged Cement Roadstone Holdings (CRH) for 13 years, according to the Irish Independent newspaper. Notably, he presided over the start of the company’s move from a domestic building materials producer to a multinational one. At home in Ireland he was also known for the 'Culliton Report,' an influential Irish industrial policy document published in the early 1990s.

Ireland: Ecocem Group has appointed John Reddy as Group Quality and Innovation Application Manager. In the new role he will lead a growing technical team across Europe including Ireland, UK, Sweden, Benelux and France. He is tasked with developing the product pipeline for the group and assisting with product commercialisation across Europe.

Conor O’Riain, Group Managing Director said, “His undeniable commitment to Ecocem and the cement industry is unquestionable and this new role signifies the growth of Ecocem products across Europe. His appointment marks his advocacy to improving the standard of ground granulated blast-furnace slag (GGBS) cement production across the industry”.

Reddy joined Ecocem Ireland in 2004 and has worked for the group in various technical roles. He is a chartered engineer and is a graduate of Civil Engineering from the Dublin Institute of Technology (DIT) and holds an MSc in Advanced Concrete Technology from Queens University, Belfast. His master’s thesis ‘Investigating the thermal activation of GGBS concrete’ was published at the 9th International Concrete Conference and subsequently won the Irish Concrete Society, Sean DeCourcy student award in 2017.

UK: Quinn Building Products has renewed its cement exclusivity contract for the British market with National Buying Group (NBG) until the end of 2024. NBG will sell the cement under Quinn Building Products’ new Mannok brand.

Great Britain regional sales and marketing director Lee Gillman said, “Today’s announcement is a very clear signal of our intentions going forward under the Mannok name. We will bring with us everything we do best, which means we will continue to offer quality products and service to our customers and demonstrate real commitment to the merchants who are key to our company’s success, through strong working partnerships with bodies such as NBG. We are delighted to make this commitment with NBG, who have played a key part in the increased sales of cement we have experienced since launching our extended cement range in 2018. It has been a fruitful partnership for all involved, and one which we are very happy to continue for a further three years.”

UK: Quinn Industrial Holdings has announced an upcoming rebranding, to take place in October 2020, to Mannok. The new branding will extend to its subsidiaries Quinn Building Products and Quinn Packaging, as well as to its Quinn brand cement. Chief executive officer (CEO) Liam McCaffrey said that the group’s 2019 results, the strongest since its acquisition from Seán Quinn in 2014, signalled the time for the change. The new name derives from the Gaelic name for Fermanagh, the UK county in which Quinn Industrial Holdings is based.

McCaffrey said, “We are extremely pleased to unveil Mannok as our new brand identity, which we believe better reflects the ownership, evolution and future focus of our business. It marks a major milestone for us following a five-year transformation programme that has empowered our staff and repositioned our businesses for continuing growth and innovation.” He added, “2019 marked our fifth successive year of earnings growth and a robust performance given Brexit uncertainty. Our targeted investment of recent years has established strong foundations for continuing growth across Ireland and the UK.”

Ireland: Senan Murphy intends to retire as Group Finance Director of CRH in 2021. He will remain in post until the group’s board successor finds a successor to ensure a smooth transition. Murphy has been in the post since mid-2015.

UK: Breedon Group says that it has “continued to deliver an encouraging trading performance since demand began to return in early May 2020 after the Covid-19 lockdown,” recording eight-month sales of Euro580m over the period that ended on 31 August 2020, down by 15% from Euro681 over the corresponding period of 2019. The group says that the figure includes the contributions of its newly acquired Cemex ready-mix and aggregates assets for August 2020.

As a result of this performance, the board reinstated its 2020 guidance, with underlying earnings before interest and taxation (EBIT) for the second half of 2020 anticipated to be in line with that in the second half of 2019. It added, “We continue to be reassured by the UK government's restated commitment to investment in the UK's infrastructure and to encouraging demand from the UK housing market, complemented by similar trends in the Republic of Ireland.”