Breedon posts £200mn-plus revenue rise in 2018

Breedon, a leading UK and Ireland construction materials group, saw its year-on-year revenue rise by more than £200 million in 2018. Newly published audited figures for the year showed group revenue rose 32% to £862.7 million, compared to £652.4mn in 2017. Breedon’s profit before tax also rose by a healthy 12% to £79.9 million, up from £71.2mn in 2017. Group net debt stood at £310.7mn as of 31 December 2018, up from £109.8mn at 2017 end. Breedon posted a sizeable increase in its aggreg
March 6, 2019 Read time: 2 mins
Breedon’s Breedon-on-the-Hill quarry in Leicestershire, England

Breedon, a leading UK and Ireland construction materials group, saw its year-on-year revenue rise by more than £200 million in 2018.

Newly published audited figures for the year showed group revenue rose 32% to £862.7 million, compared to £652.4mn in 2017. Breedon’s profit before tax also rose by a healthy 12% to £79.9 million, up from £71.2mn in 2017. Group net debt stood at £310.7mn as of 31 December 2018, up from £109.8mn at 2017 end.
                
Breedon posted a sizeable increase in its aggregates sales in 2018 to 19.4mn tonnes, compared to 16mn tonnes sold the previous year. The group sold 2.8mn tonnes of asphalt (2017: 1.9 million tonnes), 3.2 million m³ of ready-mixed concrete (2017: 3.3 million m³) and 2mn tonnes of cement.

In a statement accompanying Breedon’s annual results, Peter Tom CBE, the group’s executive chairman, said that the £455mn acquisition of the Northern Ireland-headquartered 2340 Lagan Group in April 2018 was transformative. “It took us into an attractive new market with significant growth potential, also helping to offset a muted GB performance in the year under review. In addition, the 2399 Tarmac asset swap was important as it enabled us to streamline our concrete network by relinquishing 23 peripheral plants in exchange for 25 million tonnes of reserves in four quarries, together with an asphalt plant, thereby further strengthening our asset base and improving the quality of our earnings,” said Tom.

Summing up Leicestershire, England-headquartered Breedon’s 2018 trading year, he added: “We can be justifiably proud of our results. We outperformed the GB market in sales volumes of all our key products, grew our revenues and Underlying EBIT, and once again generated strong cash flow, enabling us to pay down a material proportion of our post-Lagan debt by the year-end.

“Our company is in excellent shape and well placed to benefit from the medium-term growth predicted for our markets.  We have a strong asset base, a highly cash-generative business and a talented management team, all of which give us a significant competitive advantage whatever the market conditions.

“We are confident of making further progress in the current year.”

Road Structures

For more information on companies in this article

Related Content

  • Wacker Neuson sees business growth with strong results
    November 10, 2017
    The Wacker Neuson Group is reporting a strong third quarter performance for 2017. The company’s latest results reveal a marked increase in revenue and earnings and says it remains positive about the fourth quarter of 2017. Wacker Neuson says it expects its revenue and earnings forecast for the current fiscal year to come in at the higher end of previous forecasts. The Wacker Neuson Group reported revenue of € 378.7 million for the third quarter of 2017. This corresponds to an increase of 20% over the €315.
    Read More
  • Wacker Neuson bullish with strong results
    May 8, 2019
    The Wacker Neuson Group reports a strong financial performance for the first quarter of 2019. The firm’s results reveal a double-digit rise in revenue to €434.6 million, a gain of 17%. The company saw even higher growth of profit before interest and tax (EBIT) growth to reach €30.2 million, a jump of 31%. Meanwhile the firm’s EBIT margin improved to 6.9%, a gain of 0.7%. “This strong start to the year sees us continue the dynamic pace of growth from the fourth quarter of 2018. Demand for our products and
    Read More
  • Wacker Neuson reports strong financial performance
    August 9, 2018
    Munich-based Wacker Neuson is reporting a substantial increase in revenue and profitability for the first six months of 2018. According to the firm’s latest results, revenue is at a record high and there has been a marked improvement in profit before interest and tax. However bottlenecks among suppliers as well as currency developments have had a dampening effect on the results. Revenue for the first half of 2018 rose 8% to a new record high of €825 million, compared with €764 million for the same period i
    Read More
  • Wacker Neuson is reporting strong half year results
    August 6, 2019
    Wacker Neuson is reporting strong financial performance for the first half of 2019. The firm says that it continued on its growth path, with revenue climbing 15.2% compared with the same period in the previous year. Revenue hit €950.7 million compared with €825.1 million for the first half of 2019. “The first half of the year showed us once again that our solutions meet the needs of our customers,” explained Martin Lehner, CEO of Wacker Neuson SE. “We gained shares in numerous markets, driven largely by our
    Read More

Highlighted Content