2024 a landmark year for SigmaRoc
Company reports strong financial performance following transformational lime and limestone acquisitions
SIGMAROC, the AIM-quoted buy-and-build heavy construction materials group, have posted a strong financial performance following transformational lime and limestone acquisitions in their full-year results for the 12 months ended 31 December 2024.
The Group’s total revenue increased 72% to £997.6 million (2023: £580.3 million), driven by the contribution from the lime acquisitions, whilst underlying EBITDA increased 92% to £224.6 million (£116.7 million) and underlying EBITDA margin improved by 240bps to 22.5%, owing to the increased scale of the business and the synergy programme. Underlying pre-tax profit was up 65% to £117.6 million (£71.2 million).
2024 saw the transformational £1 billion acquisition of lime and limestone assets from CRH plc completed in three stages, doubling the size of the Group and driving further diversification of the business. The German, Czechia, and Irish acquisitions closed in January 2024, the UK acquisition in March 2024, and Poland in September 2024, with integration progressing well and expected synergies being delivered ahead of expectations. The Group is now focused on lime and limestone, with regional diversification and broad end-market exposure.
Meanwhile, the disposal of non-core Belgian ready-mixed concrete assets completed in December 2024, with smaller French plants expected to complete in 2025, for a maximum total consideration of £41 million.
SigmaRoc’s synergy programme is progressing well, with £8 million delivered in 2024 and a minimum of £33 million now targeted by 2027. Restructuring and cost-saving initiatives implemented in Germany, the Nordics, and Belgium, are expected to contribute to the synergy programme from 2025.
Max Vermorken, chief executive officer, commented: ‘2024 was a landmark year for SigmaRoc – a year characterized by three key developments. First, the phased completion of the acquisition of a large portfolio of lime and limestone companies from CRH plc. Secondly, the significant work conducted on the identification and implementation of an ambitious synergies programme. Thirdly, the continued management of the now expanded Group, in challenging market conditions.
‘I would like to thank our colleagues for their hard work, commitment, and dedication throughout the year, delivering results ahead of expectations again, and helping position SigmaRoc as one of Europe's leading lime and limestone businesses.
‘Looking ahead, we remain confident in our ability to deliver value for all our stakeholders, and to maintain our trajectory of growth. We have seen a positive start to 2025. The demand for lime and limestone as critical minerals in the ongoing shift to sustainable industry is set to grow, and SigmaRoc are well positioned to capitalize on this trend. Together, we are building a stronger, more sustainable future for all.’
