CRH PUBLIC LTD CO

Previous wording

Our Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) is intended to convey management’s perspective regarding operational and financial performance for the three and six months ended June 30, 2025. This MD&A should be read in conjunction with the unaudited Condensed Consolidated Financial Statements and related notes appearing in Part I, Item 1. "Financial Statements” of this Quarterly Report.

Current wording

Our Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) is intended to convey management’s perspective regarding operational and financial performance for the three and nine months ended September 30, 2025. This MD&A should be read in conjunction with the unaudited Condensed Consolidated Financial Statements and related notes appearing in Part I, Item 1. "Financial Statements” of this Quarterly Report.

Previous wording

CRH is a leading provider of building materials that build, connect and improve our world. Since formation in 1970, CRH has evolved from being a supplier of base materials to solving complex construction challenges for our customers. CRH’s connected strategy uniquely integrates materials, products and services across the construction value chain, better serving our customers’ needs and driving repeat business. This customer-connected approach is making construction simpler, safer and more sustainable.

Current wording

CRH is a leading provider of building materials that build, connect and improve our world. Since formation in 1970, CRH has evolved from being a supplier of base materials to solving complex construction challenges for our customers. CRH’s connected portfolio uniquely integrates materials, products and services across the construction value chain, better serving our customers’ needs and driving repeat business. This customer centric approach is making construction simpler, safer and more sustainable.

Previous wording

CRH integrates essential materials (aggregates and cement), value-added building products as well as construction services, to provide our customers with complete solutions. CRH’s capabilities, innovation and technical expertise enable it to be a valuable partner for transportation and critical infrastructure projects, complex non-residential construction and outdoor living solutions.

Current wording

CRH provides a connected offering of essential materials (aggregates and cementitious materials), value-added building products as well as construction services to our customers. CRH’s capabilities, innovation and technical expertise enable it to be a valuable partner for transportation and critical infrastructure projects, complex non-residential construction and outdoor living solutions.

Previous wording

Operating in 28 countries, the Company has market leadership positions in North America, Europe and Australia. The United States is expected to be a key driver of future growth for CRH due to continued economic expansion, a growing population and significant public investment in construction. Our International businesses, which benefit from strong economic and construction growth prospects as well as recurring repair and remodel demand, are an important strategic part of the Company. CRH intends to continue to expand its North American and International operations given significant government support for infrastructure and increasing demand for customer-connected solutions in major infrastructure and commercial projects.

Current wording

Operating in 28 countries, the Company has market leadership positions in North America, Europe and Australia. The United States is expected to be a key driver of future growth for CRH due to continued economic expansion, a growing population and significant public investment in construction. Our International businesses, which benefit from strong economic and construction growth prospects as well as recurring repair and remodel demand, are an important strategic part of the Company. CRH intends to continue to expand its North American and International operations given significant government support for infrastructure and increasing demand for building materials in major infrastructure and commercial projects.

Previous wording

CRH delivered a strong second quarter performance compared to the second quarter of 2024, resulting in the following performance highlights for the three months ended June 30, 2025 (comparisons are versus the prior year's second quarter):

Current wording

CRH delivered a strong third quarter performance compared to the third quarter of 2024, resulting in the following performance highlights for the three months ended September 30, 2025 (comparisons are versus the prior year's third quarter):

Previous wording

•Total revenues increased 5% to $17.0 billion;

Current wording

•Total revenues increased 5% to $11.1 billion;

Previous wording

•Net income increased by $23 million to $1.3 billion. Adjusted EBITDA*1 was $2.5 billion, an increase of $208 million, or 9%;

Current wording

•Net income increased by $130 million to $1.5 billion. Adjusted EBITDA*1 was $2.7 billion, an increase of $241 million, or 10%;

Previous wording

•Net income margin was 13.1% compared with 13.6%, a decrease of 50 basis points (bps). Adjusted EBITDA margin* was 24.1%, an increase of 70bps on the prior year's second quarter Adjusted EBITDA margin* of 23.4%; and

Current wording

•Net income margin was 13.7% compared with 13.2%, an increase of 50 basis points (bps). Adjusted EBITDA margin* was 24.3%, an increase of 100bps on the prior year's third quarter Adjusted EBITDA margin* of 23.3%; and

Previous wording

•Diluted Earnings Per Share (EPS) was $1.94 compared to $1.88.

Current wording

•Diluted Earnings Per Share (EPS) was $2.21 compared to $1.97.

Previous wording

CRH delivered a good performance in the six months ended June 30, 2025 compared to the prior year, resulting in the following performance highlights (comparisons are versus the prior year's first six months):

Current wording

CRH delivered a good performance in the nine months ended September 30, 2025 compared to the prior year, resulting in the following performance highlights (comparisons are versus the prior year's first nine months):

Previous wording

•Net income was $1.2 billion compared with $1.4 billion, a decrease of $189 million. Adjusted EBITDA*2 was $3.0 billion, an increase of $258 million, or 10%;

Current wording

•Net income was $2.8 billion, a decrease of $59 million compared to the prior year. Adjusted EBITDA*2 was $5.7 billion, an increase of $499 million, or 10%;

Previous wording

•Cash returned to shareholders through share buybacks was $0.6 billion, a decrease of $0.1 billion versus the first six months of the prior year. On August 5, 2025, the latest tranche of the share buyback program was completed, bringing the year-to-date repurchases to $0.8 billion. A further tranche has been announced, extending the ongoing share buyback program by an additional $0.3 billion to be completed no later than November 5, 2025;

Current wording

•Cash returned to shareholders through share buybacks was $0.9 billion, a decrease of $0.1 billion versus the first nine months of the prior year. On November 4, 2025, the latest tranche of the share buyback program was completed, bringing the year-to-date repurchases to $1.1 billion. A further tranche has been announced, extending the ongoing share buyback program by an additional $0.3 billion to be completed no later than February 17, 2026;

Previous wording

•Cash paid to shareholders through dividends was $0.5 billion, compared with $1.2 billion in the first half of the prior year. The decrease primarily reflects the payment of a second interim 2023 dividend in Q1 2024, which was not repeated in Q1 2025. The first 2025 quarterly dividend of $0.37 per share was declared in February 2025, a second quarterly dividend of $0.37 per share was announced in May 2025, and a third quarterly dividend of $0.37 per share announced on August 6, 2025, representing an annualized increase of 6% on the prior year; and

Current wording

•Cash paid to shareholders through dividends was $0.7 billion, compared with $1.5 billion in the first nine months of the prior year. The decrease primarily reflects the payment of a second interim 2023 dividend in Q1 2024, which was not repeated in Q1 2025. CRH declared a quarterly dividend of $0.37 per share in February 2025, May 2025 and August 2025 and a fourth quarterly dividend per share of $0.37 per share announced on November 5, 2025, representing an annualized increase of 6% on the prior year; and

Previous wording

•A total of 13 acquisitions were completed for consideration of $0.7 billion, compared with $2.6 billion in the first half of the prior year. A further $1.3 billion was invested in development and replacement capital expenditure projects, compared with $1.1 billion for the comparable 2024 period.

Current wording

•A total of 22 acquisitions were completed for consideration of $3.2 billion, compared with $3.9 billion in the first nine months of the prior year. A further $1.9 billion was invested in growth and maintenance capital expenditure projects, compared with $1.6 billion for the comparable 2024 period.

Previous wording

In the three months ended June 30, 2025, CRH completed five acquisitions for a total consideration of $0.1 billion, compared with $0.4 billion in the same period of 2024. Americas Materials Solutions completed two acquisitions, while International Solutions completed three acquisitions.

Current wording

In the three months ended September 30, 2025, CRH completed nine acquisitions for a total consideration of $2.5 billion, compared with $1.4 billion in the same period of 2024. Americas Materials Solutions completed three acquisitions, Americas Building Solutions completed two acquisitions and International Solutions completed four acquisitions.

Previous wording

On July 29, 2025, the Company announced that it had entered into a binding agreement to acquire Eco Material, a leading supplier of Supplementary Cementitious Materials in North America, headquartered in Utah, for a total consideration of $2.1 billion. The Eco Material transaction uniquely positions CRH to meet growing demand for cementitious products to modernize North America's infrastructure. The acquisition is expected to close in 2025, subject to regulatory approval and customary closing conditions.

Current wording

In September 2025, CRH completed the acquisition of Eco Material, a leading supplier of cementitious materials in North America for a total consideration of $2.1 billion. The Eco Material transaction uniquely positions CRH to meet growing demand for cementitious products to modernize North America's infrastructure.

Previous wording

With respect to divestitures, in the three months ended June 30, 2025, cash proceeds from divestitures and disposals of long-lived assets were $31 million, compared with $0.4 billion in the same period in 2024. For the six months ended June 30, 2025, CRH realized cash proceeds from divestitures and disposals of long-lived assets of $0.1 billion, compared with $1.1 billion in the same period of the prior year.

Current wording

With respect to divestitures, in the three months ended September 30, 2025, cash proceeds from divestitures and disposals of long-lived assets were $0.1 billion, in line with the same period in 2024 (Q3 2024: $0.1 billion). For the nine months ended September 30, 2025, CRH realized cash proceeds from divestitures and disposals of long-lived assets of $0.2 billion, compared with $1.2 billion in the prior year period.

Previous wording

The outlook for our business remains positive and we raise our financial guidance for 2025. We continue to expect favorable underlying demand across our key end-use markets in 2025, underpinned by significant public investment in critical infrastructure and continued re-industrialization activity in key non-residential segments. Within the residential sector, the new-build segment is expected to remain subdued, while repair and remodel activity remains resilient. Assuming normal seasonal weather patterns and absent any major dislocations in the political or macroeconomic environment, CRH’s proven strategy and leading positions of scale in attractive higher-growth markets, together with our strong and flexible balance sheet, are expected to underpin another year of growth and value creation in 2025.

Current wording

The outlook for the remainder of 2025 is positive, reflecting the continued execution of our strategy, leading performance across our markets, and contributions from acquisitions. Looking ahead to 2026, we expect favorable underlying demand across our key end-markets, underpinned by significant public investment in infrastructure and continued reindustrialization activity. Within the residential sector, the new-build segment is expected to remain subdued, while repair and remodel activity remains resilient. Assuming normal seasonal weather patterns and absent any major dislocations in the political or macroeconomic environment, CRH's superior strategy, connected portfolio and leading positions of scale in attractive high-growth markets, together with our strong and flexible balance sheet, are expected to underpin another year of growth and value creation in 2026.

Previous wording

Revenues are derived from a range of products and services across three segments. The Americas Materials Solutions segment utilizes an extensive network of reserve-backed quarry locations to produce and supply a range of materials including aggregates, cement, readymixed concrete and asphalt, as well as providing paving and construction services. The Americas Building Solutions segment manufactures, supplies and delivers high-quality building products and solutions. The International Solutions segment integrates building materials, products and services for the construction and renovation of public infrastructure, critical networks, commercial and residential buildings, and outdoor living spaces.

Current wording

Revenues are derived from a range of products and services across three segments. The Americas Materials Solutions segment utilizes an extensive network of reserve-backed quarry locations to produce and supply a range of materials including aggregates, cementitious materials, readymixed concrete and asphalt, as well as providing paving and construction services. The Americas Building Solutions segment manufactures, supplies and delivers high-quality building products and solutions. The International Solutions segment provides a connected offering of building materials, products and services for the construction and renovation of public infrastructure, critical networks, commercial and residential buildings, and outdoor living spaces.

Previous wording

Total revenues were $10.2 billion for the three months ended June 30, 2025, an increase of $0.6 billion, or 6%, from the same period in 2024, driven by the positive impact of acquisitions and disciplined commercial execution, which offset lower activity levels in weather-impacted regions.

Current wording

Total revenues were $11.1 billion for the three months ended September 30, 2025, an increase of $0.6 billion, or 5%, from the same period in 2024, driven by positive demand, strong commercial execution and contributions from acquisitions.

Previous wording

For the six months ended June 30, 2025, total revenues were $17.0 billion, an increase of 5% from the first six months of 2024, reflecting continued pricing progress and contributions from acquisitions which offset lower weather-impacted volumes and the divestiture of the European Lime operations.

Current wording

For the nine months ended September 30, 2025, total revenues were $28.0 billion, an increase of 5% from the first nine months of 2024, reflecting effective commercial execution, continued pricing progress and contributions from acquisitions which helped offset the impact of divestitures and adverse weather conditions across several regions earlier in the year.

Previous wording

For additional discussion on segment revenues, see “Segments” section on pages 30 to 32.

Current wording

For additional discussion on segment revenues, see “Segments” section on pages 31 to 33.

Previous wording

Gross profit for the three months ended June 30, 2025, was $4.0 billion, an increase of $0.4 billion, or 10% from the same period in 2024, reflecting total revenues increase of 6%, while total cost of revenues increased by 3%. The gross profit margin of 39.4% increased 130bps from 38.1% in the second quarter of the prior year. Total cost of revenues increased primarily as a result of higher labor costs of 5%, driven by increased headcount from acquisitions and inflationary pressures, as well as a 26% increase in depreciation and amortization expenses, reflecting the impact of acquisitions and higher capital expenditures.

Current wording

Gross profit for the three months ended September 30, 2025, was $4.3 billion, an increase of $0.3 billion, or 6% from the same period in 2024. The gross profit margin of 38.9% increased 30bps from 38.6% in the third quarter of the prior year. Labor and energy costs both increased by 3%, while depreciation and amortization expenses increased by 18% reflecting the impact of acquisitions and higher capital expenditures. Other costs increased 4% from the same period in 2024, resulting in a total cost of revenues increase of 5% in the quarter.

Previous wording

For the six months ended June 30, 2025, gross profit was $5.9 billion, an increase of $0.4 billion, or 7%, from the same period in 2024, with total revenues 5% ahead of the same period in 2024, while total cost of revenues increased by 4%. The gross profit margin of 34.6% increased 70bps from 33.9% for the first half of the prior year. The increase in cost of revenues was primarily driven by a 6% increase in labor costs, attributable to higher headcount from acquisitions and inflationary pressures, as well as a 24% higher depreciation and amortization expense, reflecting the impact of acquisitions and increased capital expenditures.

Current wording

For the nine months ended September 30, 2025, gross profit was $10.2 billion, an increase of $0.6 billion, or 7%, from the same period in 2024, with total revenues 5% ahead of the same period in 2024, while total cost of revenues increased by 4%. The gross profit margin of 36.3% increased 60bps from 35.7% for the first nine months of the prior year. The increase in cost of revenues was primarily driven by a 5% increase in labor costs, attributable to higher headcount from acquisitions and inflationary pressures, as well as a 22% higher depreciation and amortization expense, reflecting the impact of acquisitions and increased capital expenditures. Energy costs increased by 3%, while other costs were 2% ahead of the prior year period.

Previous wording

Selling, general and administrative (SG&A) expenses, which are primarily comprised of haulage costs, labor costs, and other selling and administrative expenses, were $2.1 billion for the three months ended June 30, 2025, an increase of $0.2 billion, or 9%, from the comparable 2024 period. The increase was primarily driven by a 7% increase in haulage expenses resulting from acquisition activity and a 9% increase in labor costs reflecting higher headcount and wage inflation.

Current wording

Selling, general and administrative (SG&A) expenses, which are primarily comprised of haulage costs, labor costs, and other selling and administrative expenses, were $2.3 billion for the three months ended September 30, 2025, an increase of $0.2 billion, or 7%, from the comparable 2024 period. The increase was primarily driven by a 9% increase in labor costs reflecting higher headcount and wage inflation and a 7% increase in haulage expenses resulting from acquisition activity.

Previous wording

For the six months ended June 30, 2025, SG&A expenses were $4.0 billion, an increase of $0.2 billion, or 6%, from the comparable 2024 period. SG&A expenses increased primarily due to a 9% increase in labor costs impacted by higher headcount from acquisitions and wage inflation and a 5% increase in haulage expenses mainly due to acquisition activity.

Current wording

For the nine months ended September 30, 2025, SG&A expenses were $6.3 billion, an increase of $0.4 billion, or 6%, from the comparable 2024 period. SG&A expenses increased primarily due to a 9% increase in labor costs impacted by higher headcount from acquisitions and wage inflation and a 6% increase in haulage expenses mainly due to acquisition activity.

Previous wording

Gain on disposal of long-lived assets was $29 million for the three months ended June 30, 2025, a decrease of $73 million compared with 2024, and $43 million for the six months ended June 30, 2025, a decrease of $67 million. The decrease was primarily due to the non-recurrence of certain land asset disposals in North America.

Current wording

Gain on disposal of long-lived assets was $110 million for the three months ended September 30, 2025, an increase of $21 million compared with 2024. The increase was primarily due to the disposal of certain land assets in the Americas Buildings Solutions segment. For the nine months ended September 30, 2025, gain on disposal of long-lived assets was $153 million, a decrease of $46 million. The decrease was primarily due to the non-recurrence of equivalent levels of prior year gains on land asset sales in North America.

Previous wording

Interest income was $30 million for the three months ended June 30, 2025, a decrease of $6 million from the comparable period in 2024, and $67 million for the six months ended June 30, 2025, a decrease of $12 million from the comparable period. The decrease was primarily due to lower cash deposits.

Current wording

Interest income was $37 million for the three months ended September 30, 2025, an increase of $4 million from the comparable period in 2024. For the nine months ended September 30, 2025, interest income was $104 million, a decrease of $8 million from the comparable period, primarily due to lower cash deposits in the period.

Previous wording

Interest expense was $200 million for the three months ended June 30, 2025, an increase of $45 million from the comparable period in 2024 and $381 million for the six months ended June 30, 2025, an increase of $93 million from the prior period. The increase was primarily due to higher gross debt balances.

Current wording

Interest expense was $209 million for the three months ended September 30, 2025, an increase of $45 million from the comparable period in 2024 and $590 million for the nine months ended September 30, 2025, an increase of $138 million from the prior period. The increase was primarily due to higher gross debt balances.

Previous wording

Other nonoperating (expense) income, net, was an expense of ($9) million for the three months ended June 30, 2025, compared with an income of $23 million in the comparable period for 2024. Other nonoperating (expense) income, net, includes pension and postretirement benefit costs (excluding service costs), gains and losses from divestitures, and other miscellaneous income and expenses. The reduction versus prior year was reflective of the non-recurrence of prior year gains on divestitures.

Current wording

Other nonoperating income (expense), net, was $12 million for the three months ended September 30, 2025, compared with $62 million in the comparable period for 2024. Other nonoperating income (expense), net, includes pension and postretirement benefit costs (excluding service costs), gains and losses from divestitures, and other miscellaneous income and expenses. The reduction versus prior year was reflective of the non-recurrence of prior year gains on divestitures.

Previous wording

Other nonoperating (expense) income, net, was an expense of ($29) million for the six months ended June 30, 2025, compared with an income of $184 million in the comparable period for 2024. The reduction versus prior year primarily related to the non-recurrence of the gain on the divestiture of the European Lime operations and unrealized gains on certain investments.

Current wording

Other nonoperating income (expense), net, was an expense of ($17) million for the nine months ended September 30, 2025, compared with income of $246 million in the comparable period for 2024. The reduction versus prior year primarily related to the non-recurrence of the gain on the divestiture of the European Lime operations and unrealized gains on certain investments.

Previous wording

For the three months ended June 30, 2025, the Company had an income tax expense of $425 million, compared to $430 million for the comparable period in 2024. The effective tax rate was 24% for the second quarter in 2025 compared with an effective tax rate of 25% for the second quarter in 2024. The decrease in the effective tax rate for the three months ended June 30, 2024 was mainly driven by movements in valuation allowances.

Current wording

For the three months ended September 30, 2025, the Company had an income tax expense of $428 million, compared to $531 million for the comparable period in 2024. The effective tax rate was 22% for the third quarter of 2025 compared with an effective tax rate of 28% for the third quarter of 2024. The decrease in the effective tax rate for the three months ended September 30, 2025, was mainly driven by movements in uncertain tax provisions.

Previous wording

For the six months ended June 30, 2025, the Company had an income tax expense of $367 million compared to $411 million for the comparable period in 2024. The effective tax rate was 23% for the first half of 2025 compared with an effective tax rate of 22% for the same period in 2024. The increase was primarily driven by the inclusion of the largely tax-exempt divestiture of the European Lime operations in the six months ended June 30, 2024.

Current wording

For the nine months ended September 30, 2025, the Company had an income tax expense of $795 million compared to $942 million for the comparable period in 2024. The effective tax rate was 23% for the first nine months of 2025 compared with an effective tax rate of 25% for the same period in 2024. The decrease in the effective tax rate for the nine months ended September 30, 2025, was mainly driven by movements in uncertain tax provisions and valuation allowances.

Previous wording

For the three months ended June 30, 2025, income of $1 million was recorded in equity method investments, a decrease of $5 million from the comparable period in 2024 and a loss of $9 million was recorded for the six months ended June 30, 2025, a decrease of $11 million from the comparable period in 2024.

Current wording

For the three months ended September 30, 2025, income of $26 million was recorded in income from equity method investments, an increase of $1 million from the comparable period in 2024. Income of $17 million was recorded for the nine months ended September 30, 2025, a decrease of $10 million from the comparable period in 2024.

Previous wording

Net income was $1.3 billion for the three months ended June 30, 2025, an increase of $23 million from the comparable period in 2024. A strong underlying operating performance in the period more than offset higher depreciation and interest expenses, as well as reduced gains from divestitures and disposals of long-lived assets during the period.

Current wording

Net income was $1.5 billion for the three months ended September 30, 2025, an increase of $130 million from the comparable period in 2024, reflecting a strong underlying operating performance in the period.

Previous wording

Net income was $1.2 billion for the six months ended June 30, 2025, a decrease of $189 million from the comparable period in 2024, with a positive underlying operating performance offset by the non-recurrence of gains on prior year divestitures.

Current wording

Net income was $2.8 billion for the nine months ended September 30, 2025, a decrease of $59 million from the comparable period in 2024, with a positive underlying operating performance offset by the non-recurrence of gains on prior year divestitures.

Previous wording

Net income attributable to CRH was $1.3 billion for the three months ended June 30, 2025, an increase of $22 million from the comparable period in 2024. Diluted EPS for the three months ended June 30, 2025, was $1.94, compared with diluted EPS of $1.88 for the three months ended June 30, 2024.

Current wording

Net income attributable to CRH was $1.5 billion for the three months ended September 30, 2025, an increase of $127 million from the comparable period in 2024. Diluted EPS for the three months ended September 30, 2025, was $2.21, compared with diluted EPS of $1.97 for the three months ended September 30, 2024.

Previous wording

Net income attributable to CRH was $1.2 billion for the six months ended June 30, 2025, a decrease of $188 million from the comparable period in 2024. The decrease in net income attributable to CRH was driven by a positive underlying operating performance offset by the non-recurrence of gains on prior year divestitures. Diluted EPS for the six months ended June 30, 2025, was $1.78, compared with $2.03 for the six months ended June 30, 2024.

Current wording

Net income attributable to CRH was $2.7 billion for the nine months ended September 30, 2025, a decrease of $61 million from the comparable period in 2024. Diluted EPS for the nine months ended September 30, 2025, was $3.99, compared with $4.00 for the nine months ended September 30, 2024.

Previous wording

Within CRH’s segments, revenue is disaggregated by principal activities and products. Business lines are reviewed and evaluated as follows: (1) Essential Materials, (2) Road Solutions, (3) Building & Infrastructure Solutions, and (4) Outdoor Living Solutions. The vertically integrated Essential Materials businesses manufacture and supply aggregates and cement for use in a range of construction and industrial applications. Road Solutions support the manufacturing, installation and maintenance of public highway infrastructure projects and commercial infrastructure. Building & Infrastructure Solutions connect, protect and transport critical water, energy and telecommunications infrastructure and deliver complex commercial building projects. Outdoor Living Solutions integrate specialized materials, products and design features to enhance the quality of private and public spaces.

Current wording

Within CRH’s segments, revenue is disaggregated by principal activities and products. Business lines are reviewed and evaluated as follows: (1) Essential Materials, (2) Road Solutions, (3) Building & Infrastructure Solutions, and (4) Outdoor Living Solutions. The Essential Materials businesses manufacture and supply aggregates and cementitious materials for use in a range of construction and industrial applications. Road Solutions supports the manufacturing, installation and maintenance of public highway infrastructure projects and commercial infrastructure. Building & Infrastructure Solutions provides products that connect, protect and transport critical water, energy and telecommunications infrastructure and deliver complex commercial building projects. Outdoor Living Solutions integrates specialized materials, products and design features to enhance the quality of private and public spaces.

Previous wording

In Essential Materials, total revenues increased by 4% due to positive pricing and favorable underlying demand in most regions. Aggregates pricing increased 4% year-on-year, reflecting a shift in product mix due to weather-related delays in the period. Cement pricing was up 2% reflecting regional variances across the footprint. Aggregates and cement volumes increased by 5% and 1%, respectively, with contributions from acquisitions offsetting the impact of adverse weather.

Current wording

In Essential Materials, total revenues increased by 9% due to positive pricing and solid underlying demand. Aggregates volumes increased by 7% supported by positive demand and contributions from acquisitions in the period, while underlying cement volumes were 4% ahead of the prior year. Aggregates pricing increased 4% year-on-year, impacted by a geographic and project-related shift in product mix during the period, while underlying cement pricing was up 1%.