Year of growth and development for SigmaRoc
Excellent financial and strategic performance in 2021 with Group well positioned for next phase of evolution
AIM listed buy-and-build construction materials group SigmaRoc plc have announced their audited results for the year ended 31 December 2021. Financially, the Group exceeded all its targets and market expectations, more than doubling turnover and underlying EBITDA, and growing its underlying earnings per share by 19%.
Revenue was up 119% year on year to £272.0 million (2020: £124.2 million), whilst underlying EBITDA of £49.3 million was up 106% (£23.9 million) and underlying pre-tax profit was up 120% at £26.8 million (£12.2 million).
Last year was also one of significant strategic progress with four acquisitions, including the Group’s largest to date, the creation of a joint venture with Carrières du Boulonnais, and the launch of Greenbloc technology, all adding to the foundations for the next phase of the Group’s evolution.
As at 31 December 2021, SigmaRoc’s gross assets were £769.3 million, underpinned by more than 1 billion tonnes of reserves and resources, land, and plant and machinery in strategic locations.
SigmaRoc’s chief executive officer, Max Vermorken, commented: ‘Two things make a quality business, a great team and supportive stakeholders. We are lucky to have both. Our nearly 1,900 colleagues have shown incredible resilience in the testing conditions of COVID-19 and incredible drive when the Group expanded yet again to welcome Nordkalk.
‘We have positioned the business well for the next leg of its journey as a leading North European quarrying group. 2022 started with more unforeseen events than most could have predicted, in particular the deeply saddening conflict in Ukraine and the challenges it brings for the wider economy.
‘Yet whatever the challenge, the business will rise to it, as it has done over the past five years. The next five should see the Group evolve again, further developing its footprint, product offering, profitability, and safety. As 2022 has started with many head and tailwinds, we remain optimistic the underlying demand for all products in all regions is strong and opportunities to further expand the Group are plentiful.
‘Much remains to be done and much potential remains untapped. With the continued support of a great team and our shareholders, that potential can be turned into very exciting further developments.’