Americas Products traditional precast products, volumes increased 19% over 2011. Our enclosures  business showed further improvement in profitability and the construction  accessories business posted better results. Overall the Precast group’s  like-for-like sales increased by 12% and operating profit advanced significantly. 2012 saw good progress for our Americas Products segment helped by a  strong recovery in residential construction in the United States and an ongoing pick-up in overall economic activity. Like-for-like sales were 7% ahead of  last year. The combination of input cost pressures and very competitive  pricing required a continued tight focus on operational excellence initiatives.  Nevertheless, with the benefit of organic growth, market share gains and cost  reduction initiatives, the segment achieved a significant increase in US Dollar  operating profit and growth in both EBITDA and operating profit margins.  Commercial building activity showed only a modest improvement in 2012,  resulting in another year of challenging market conditions for this business.  Despite these conditions, our initiatives to gain market share and differentiate  the business through innovative technology drove top-line growth. The pricing  environment remained difficult, especially for larger project work. However,  organic sales rose 8% with improvements well balanced across regions. Our  Engineered Glazing Systems business, which had held up well as large projects  were completed during 2011, was impacted by somewhat lower activity levels  in 2012. Our traditional Architectural Glass and Storefronts business benefited  from a focus on increased commercial RMI spend. Our focus on tight cost  controls, quality and improved processes resulted in higher overall operating  profit for the business.  Americas Products completed 9 acquisitions in 2012 for a total spend of  €112 million. Of particular note was the acquisition by our Architectural Products  Group (APG) of paver plant facilities in Ontario, Canada (3) and in Florida (4),  increasing our market share in Ontario and extending the reach of our Florida  operations to the southwest of the state with resultant transportation benefits.  The acquisition of 5 packaged cement mix plants in Texas further strengthened  APG’s national presence in packaged concrete products. The Precast group  acquired 5 plants in California further consolidating its leadership position in this  large market and facilitated our objective of expanding into new precast product  segments in this state, including bridge girders, manholes and box culverts. Results for our operations in Argentina were slightly lower than in 2011,  with improved results in our clay block operation offset by continuing price  competition and cost inflation pressures in our tile business. Our Chilean  businesses had another year in which operating profit improved. Overall, sales  for our South American operations were higher and operating profit was slightly  better than in 2011. A gradual recovery in residential construction activity is underway. The  non-residential and infrastructure sectors typically lag residential demand and  are therefore expected to be stable with only modest growth in the near term.  Given our business mix, we expect further organic sales growth in 2013. This  growth, combined with the impact of recent acquisitions and further benefits  from the cost reduction measures taken in recent years, is expected to  contribute to further improvement in our operating profit and margins in the  year ahead. The Precast business saw an improved market environment in 2012  and registered solid gains as targeted growth initiatives began to deliver.  Improvements were seen in all regions with particular progress in many  hard-hit Sunbelt markets. Commercial and infrastructure markets remained  subdued but energy and environment-related markets were positive. In our  APG supplies a broad range of concrete masonry and hardscape products,  packaged products, clay brick, fencing and lightweight aggregates to the  construction industry, with the DIY and professional RMI segments being  significant end-users. The business benefited from good weather early in  2012 and from an improving residential construction market although APG’s non-residential construction market segments remained weak. Activity  was more robust in the west and the south but remained challenged in the  northeast and midwest. The improving housing market, product innovation  and effective marketing drove gains across our business, while further cost  reduction measures were implemented to offset the impact of higher input  costs. Overall, APG recorded an increase in operating profit for the year on a  3% increase in like-for-like sales. CRH 31 Precast (25% of EBITDA) Outlook South America (5% of EBITDA) Architectural Products (50% of EBITDA) BuildingEnvelope™ (20% of EBITDA) € million % Change 2012 2011 Total Change Sales revenue  +18% 2,806 2,378 +428 EBITDA +24% 204 164 +40 Operating profit +105% 86 42 +44 EBITDA/sales 7.3% 6.9% Op.profit/sales 3.1% 1.8% Organic Acquisitions  Divestments Restructuring/ Impairment Exchange +174 +67 - - +187 +21 +5 - +2 +12 +39 +1 - +2 +2 Restructuring costs amounted to €2 million (2011: €4 million)  Impairment charges of €4 million were incurred (2011: €4 million) EBITDA and operating profit exclude profit on disposals Analysis of change Results