SigmaRoc report strong first-half results
Group delivers strong first-half trading and operational performance with increased expectations for full year
IN their trading update for the six months ended 30 June 2024, quarried materials group SigmaRoc have reported a strong start to the year with revenue up 62%, on a like-for-like basis, to £469 million (H1 2023: £290 million), compared with the same period last year, while underlying EBITDA was up 82% to £100 million.
SigmaRoc say their diversified business model and end-market exposure allowed them to take advantage of certain tailwinds and mitigate the headwinds, delivering trading modestly ahead of budget, along with improved EBITDA margins. The strong trading performance also reflected the contribution from the Group’s recent acquisition of CRH’s lime operations.
‘2024 is a year of profound transformation as we complete the three phases of the CRH acquisitions as we build a leading industrial and construction minerals platform with a focus on lime and limestone,’ said Max Vermorken, chief executive officer of SigmaRoc.
‘On a proforma basis the Group sees its earnings per share expand again. Given how busy the teams have been with the integration of several new businesses, and a demanding synergy programme, while also navigating mixed market conditions, this is an outstanding result.
‘We are confident the enlarged Group can deliver strongly in the coming years to the benefit of all our stakeholders. Lime is an essential product for life, used in multiple areas of the economy, from construction to industry. It is essential for the green transition, including flue gas cleaning, slaking rivers and lakes, the manufacture and recycling of lithium batteries, and the construction infrastructure behind green energy production.’
