July 25, 2024 |
Malvern, PA
First-Half 2024 Sales Results
Company sees record operating margin and expects double-digit operating margin for fourth consecutive year.
- Record operating margin of 11.7%
- Sequential improvement in volumes
- Positive price-cost spread with prices stable sequentially
- Three strategic acquisitions focused on profitable growth: CSR, Bailey and FOSROC, together adding around €2bn to full-year sales and around €450m in EBITDA (including €100m of synergies in year 3)
- More than 2/3 of the Group’s pro forma operating income is now generated in high-growth geographies: North America, Asia and emerging countries
- Strong free cash flow generation of €2.5bn, with a cash conversion ratio of 75%
- Double-digit operating margin expected for H2 and full-year 2024, for the fourth consecutive year