For the year ended 31st December 2022 Tarmac Trading Limited made a pre-tax profit of 拢125.9m (2021: 拢263.1m) on turnover up 10% at 拢1,994m (2021: 拢1,810m).
Operating profit was down 32% to 拢52.0m (2021: 拢76.4m).
鈥淭he decrease in underlying operating profit is primarily a result of the impairment reversals in the prior year results, not replicated in the current year,鈥� finance director John Delaney explains in the annual report. 鈥淥nce these are removed, underlying trading has improved in the year, as show through the improved Ebitda performance, driven by robust growth in the UK construction sector of 5.6% in 2022 (ONS data).鈥�
Tarmac鈥檚 Ebitda (earnings before interest, taxes, depreciation and amortisation) increased to 拢114.4m (2021: 拢45.5m).
Delaney added: 鈥淐ost inflation continued to be a factor during the period, however the company was able to recover this through targeted price increases during the year. Profitability in the year also benefitted from the continuation of the company鈥檚 optimisation programme, which has delivered benefited across commercial, operations and logistics.鈥�
Tarmac鈥檚 contracting businesses contributed 拢473m of the total revenue, up from 拢442m in 2021 while the sale of building materials generated 拢1,509m (2021 拢1,357m). The balance came from land development activities.
Tarmac has been part of the Irish building materials group CRH since 2015. It had been previously owned by Lafarge and Anglo American.
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