CRH Annual Report 2007 PERFORMANCE AND GROWTH

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Principal Joint Venture UndertakingsPrincipal Associated UndertakingsIncorporated and operating in % held Products and services Incorporated and operating in % held Products and servicesEurope MaterialsIrelandKemek Limited* 50 Commercial explosivesPortugalSecil-Companhia Geral de 48.99 Cement, aggregates, concreteCal e Cimento, S.A.*products, mortar and readymixedconcreteTurkeyDenizli Çimento Sanayii T.A.Ş. 50 Cement and readymixed concreteEurope Products & DistributionBelgiumGefinex Jackon nv 49 XPS insulationGermanyBauking AG 47.82 Builders merchants, DIY storesJackon Insulation GmbH* 49.20 XPS insulationEurope MaterialsIsraelMashav Initiating and Development 25 CementLimitedSpainCorporación Uniland S.A.* 26.3 Cement, aggregates, readymixedconcrete and mortarEurope Products & DistributionFranceGroupe SAMSE* 21.66 Builders Merchants, DIY storesAmericas MaterialsUnited StatesBuckeye Ready Mix, LLC* 45 Readymixed concreteIrelandWilliaam Cox Ireland Limited 50 Glass constructions, continuousrooflights and ventilation systemsNetherlandsBouwmaterialenhandel de Schelde bv 50DIY storesPortugalModelo Distribuição de Materiaisde Construção sa* 50 Cash & Carry building materialsAmericas MaterialsUnited StatesAmerican Cement Company, LLC 50 CementBizzack, LLC 50 ConstructionBoxley Aggregates of West Virginia, LLC 50 AggregatesCadillac Asphalt, LLC* 50 AsphaltAmericas Products & DistributionUnited StatesArchitectural Products GroupLandmark Stone Products, LLC 50 Veneer stone* Audited by firms other than Ernst & YoungPursuant to Section 16 of the Companies Act,1986, a full list of subsidiaries, joint venturesand associate undertakings will be annexed tothe Company’s Annual Return to be filed in theCompanies Registration Office in Ireland.CRH 125
Group Financial Summary(Figures prepared in accordance with Irish GAAP)1995 1996 1997 1998 1999 2000 2001 2002 2003 2004€m €m €m €m €m €m €m €m €m €mTurnover including share of joint ventures 2,427 3,202 4,080 5,034 6,599 8,702 10,207 10,517 10,774 12,280Group operating profit 224 283 349 442 676 919 1,020 1,049 1,046 1,247Goodwill amortisation - - - (1) (19) (44) (61) (70) (76) (101)Profit on disposal of fixed assets 1 1 9 11 7 13 17 16 13 11Exceptional items - - - - 64 - - - - -Profit on ordinary activities before interest 225 284 358 452 728 888 976 995 983 1,157Net interest payable (21) (28) (36) (43) (93) (191) (173) (139) (118) (140)Profit on ordinary activities before taxation 204 256 322 409 635 697 803 856 865 1,017Tax on profit on ordinary activities (42) (58) (76) (100) (152) (194) (217) (227) (218) (247)Tax on exceptional items - - - - (26) - - - - -Profit on ordinary activies after tax 162 198 246 309 457 503 586 629 647 770Employment of capitalFixed assets- Tangible assets 895 1,236 1,519 2,288 3,226 4,551 5,150 5,004 5,145 5,320- Intangible asset - goodwill - - - 138 629 955 1,153 1,154 1,475 1,443- Financial assets 118 127 132 53 66 104 316 275 349 702Net working capital (a) 133 255 313 512 608 915 1,040 1,078 1,116 1,244Other liabilities (b) (13) (25) (61) (286) (430) (470) (479) (443) (429) (429)Total 1,133 1,593 1,903 2,705 4,099 6,055 7,180 7,068 7,656 8,280Financed as followsEquity shareholders’ funds 868 1,056 1,308 1,553 2,201 3,074 4,734 4,747 4,758 5,217Preference share capital 1 1 1 1 1 1 1 1 1 1Minority shareholders’ equity interest 12 13 14 285 37 36 135 111 90 82Capital grants 12 11 11 20 19 17 16 14 13 11Deferred tax 49 70 104 116 172 307 400 485 486 528Net debt (c) 189 442 465 730 1,669 2,620 1,894 1,710 2,308 2,441Convertible capital bonds (d) 2 - - - - - - - - -1,133 1,593 1,903 2,705 4,099 6,055 7,180 7,068 7,656 8,280Purchase of tangible assets 109 150 147 232 360 430 452 367 402 520Acquisitions and investments 164 532 241 604 1,421 1,605 1,080 992 1,615 922Total 273 682 388 836 1,781 2,035 1,532 1,359 2,017 1,442Depreciation and goodwill amortisation 81 104 129 166 275 395 497 526 534 596Earnings per share after goodwillamortisation (cent) (e) 41.1 48.7 58.1 72.1 97.0 113.8 115.3 119.2 121.9 143.9Earnings per share before goodwillamortisation (cent) (e) 41.1 48.7 58.1 72.4 101.6 123.8 127.3 132.5 136.2 163.1Dividend per share (cent) 10.52 11.80 13.54 15.61 18.22 20.77 23.00 25.40 28.10 33.00Cash earnings per share (cent) (f) 62.0 74.4 88.9 111.2 161.2 204.1 213.7 219.8 223.4 256.4Dividend cover (times) (e) 3.87 4.02 4.27 4.59 5.29 5.34 4.85 4.68 4.32 4.34Notes to Irish GAAP financial summary data(a)(b)(c)(d)126 CRHExcluding bank advances and cash and liquid investments which are included under net debt (see note (c) below).Including deferred and contingent acquisition consideration due after more than one year and provisions for liabilities and charges and excludingdeferred tax.Net debt represents the sum of loans (including finance leases) and overdrafts falling due within one year, bank loans (including finance leases) fallingdue after more than one year less cash and liquid investments.Including supplemental interest.(e) Excluding exceptional net gains in 1999.(f)Cash earnings per share equals the sum of profit for the year attributable to ordinary shareholders, depreciation and goodwill amortisation divided bythe average number of Ordinary Shares outstanding for the year.
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CRH Annual Report 2007PERFORMANCE A
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CRH’s broad geographic, sectoral
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Products: Completing the EnvelopeCl
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Products: Completing the EnvelopeCR
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Western EuropeCentral Eastern Europ
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Health & SafetyCRH continues to com
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Chairman’s StatementKieran McGowa
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14 CRHConrad Yelvington Distributor
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Chief Executive’s Review continue
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Chief Executive’s Review continue
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Europe Materials2007 OverviewEurope
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Europe Materials continuedof econom
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Europe Products & Distribution cont
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The Products & Distribution Divisio
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Americas Materials2007 OverviewAmer
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The Americas Materials Divisionoper
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Americas Products & Distribution co
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The Americas Products & Distributio
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Finance Review continuedin Cementbo
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Finance Review continuedCash Genera
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Board of DirectorsBoard CommitteesA
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Corporate GovernanceCRH has primary
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Corporate Governance continued• r
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Directors’ ReportThe Directors su
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Report on Directors’ Remuneration
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Statement of Directors’ Responsib
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Group Income Statementfor the finan
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Group Cash Flow Statementfor the fi
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Accounting Policies continuedJoint
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Accounting Policies continuedAwards
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Accounting Policies continuedLiquid
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Notes on Financial Statements1. Seg
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Notes on Financial Statements1. Seg
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Notes on Financial Statements3. Ope
Page 77 and 78: Notes on Financial Statements7. Sha
Page 83 and 84: Notes on Financial Statements10. In
Page 85 and 86: Notes on Financial Statements12. Ea
Page 87 and 88: Notes on Financial Statements13. Pr
Page 91 and 92: Notes on Financial Statements18. Tr
Page 95 and 96: Notes on Financial Statements23. De
Page 97 and 98: Notes on Financial Statements23. De
Page 99 and 100: Notes on Financial Statements24. An
Page 101 and 102: Notes on Financial Statements25. Pr
Page 103 and 104: Notes on Financial Statements27. Re
Page 109 and 110: Notes on Financial Statements29. Sh
Page 111 and 112: Notes on Financial Statements33. Ac
Page 113 and 114: Notes on Financial Statements33. Ac
Page 117 and 118: Notes to the Company Balance Sheet1
Page 119 and 120: Shareholder InformationDividend pay
Page 121 and 122: ManagementSenior Group StaffLiam O
Page 123 and 124: Principal Subsidiary UndertakingsIn
Page 125 and 126: Principal subsidiary undertakings c
Page 127: Principal subsidiary undertakings c
Page 131 and 132: IndexAAccounting policies 61Acquisi
Page 134 and 135: Notice of MeetingThe Annual General
Page 136 and 137: This report is printed on paper man
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CRH Annual Report 2007 PERFORMANCE AND GROWTH

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