SigmaRoc EBITDA to be ‘modestly ahead’ of expectations in 2024 results

SigmaRoc has said that it expects underlying EBITDA and earnings per share to be "modestly ahead" of current consensus expectations in its latest trading update for the 2024 financial year.

The lime and minerals group reported that in the year to 31 December 2024, it expects its revenue to increase by 72% year-on-year to £998m, which it said reflects the "contribution from the acquisitions".

It said that its industrial minerals market, which accounted for 34.5% of group revenue, showed "continued resilience in the latter part of the year", while its environmental and food market made up 18.7% of revenue.

SigmaRoc also added that its construction market made up 46.8% of its overall revenue, following "continued good volume development in food and water purification segments with higher than usual wind energy generation", impacting demand for flue gas treatment.

Its underlying EBITDA is also expected to increase by 90% in the same period and is set to exceed £222m.

SigmaRoc’s earnings per share are set to reach around 8.3 pence, which is 10% ahead of consensus and a 3% year-on-year jump.

Chief executive officer at SigmaRoc, Max Vermorken, said: "2024 was a transformational year for SigmaRoc. We completed the acquisition of CRH's lime assets, securing our position as one of Europe's leading lime and limestone businesses and I would like to thank all our colleagues for their positive attitude and commitment at the start of a new journey.

"We have delivered good results despite the challenging backdrop, and we are well positioned for 2025. We have made the first steps on our divestment programme of non-core assets with the disposal of the Belgian ready-mix plants, with completion of the smaller French plants and earnout to follow."

Looking ahead, the firm said that it made "good progress in 2024" and it said that while trends of "continued softness in residential construction" and in some areas within environmental and steel markets, it said that the company is "well placed to navigate these given its diversified model and broad end market exposure".

SigmaRoc added that it "remains confident in the group’s ability to deliver another successful year", with its expectations for the 2025 financial year remaining unchanged.

Vermorken concluded: "Our business has been refocused on lime and limestone, and I am confident we are well positioned for future growth. Lime is an essential product for life, that plays a critical role in several trends that impact our society, from decarbonisation to sustainable construction, to environmental protection and the electrification of the economy.

"Overall, we expect to report 2024 results modestly ahead of expectations and, despite the challenging backdrop, are well positioned to continue our growth in 2025 as a larger and more focused group."



Share Story:

Recent Stories