SigmaRoc continues on strong growth path

SigmaRoc, the London-headquartered buy-to-build building materials group, had an excellent final quarter 2023 trading period, with full-year underlying earnings ahead of expectations, alongside a key strategic investment to create a leading European lime platform.
Quarry Products / January 25, 2024
By Guy Woodford
SigmaRoc's Ronez quarrying site in the Channel Islands. Pic: SigmaRoc

The Group is expecting to report underlying FY23 EBITDA and EPS (earnings per share) ahead of current consensus expectations. Revenues are expected to be 8% higher year-on-year at around £580m (FY22: £538m). 

SigmaRoc continued its good trading in most markets in the second half of FY23. Its diversified model and end-market exposure continued to provide resilience in the latter part of the year, with industrial mineral markets and infrastructure outperforming expectations and offsetting softer residential construction markets.

Granulats du Hainaut's (GduH) aggregates operations at Carrières du Hainaut in Soignies, Belgium. GduH is a SigmaRoc and Carrières du Boulonnais joint venture. Pic: SigmaRoc


On 22 November 2023, the Group announced the transformational acquisition of several lime and limestone assets in Germany, the Czech Republic and Ireland from CRH, alongside a £200m equity fundraising. Completion of the acquisition of the CRH assets was effective on 4 January 2024, bringing to the Group 1 billion tonnes of reserves, over 850 employees, and annualised revenues of over €350m. The addition of these assets transforms the scale of the Group’s industrial minerals business and is expected to unlock significant financial, operational and strategic benefits. Integration of the assets is underway, with further assets to follow from the CRH deal in the form of CRH’s UK and Polish lime businesses, expected later in 2024. 

Max Vermorken, CEO of SigmaRoc, said: “2023 has been another transformational year for SigmaRoc. We completed a number of bolt-on acquisitions during the year, which have been integrated well and enhanced performance in a number of our businesses. 

“We also welcome the Fels-Werke, Vitosov. and Clogrennane teams into the SigmaRoc Group. Their expertise and dedication will undoubtedly contribute to the continued success of the Group as they become an integral part of our journey.

SigmaRoc CEO Mark Vermorken has welcomed the Group's strong trading. Pic: SigmaRoc


“We have had an encouraging start to 2024, and we are confident the enlarged Group, with a strategic focus on lime and limestone, 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, being used in a number of processes, including flue gas cleaning, slaking rivers and lakes, and the manufacture of lithium batteries.
“We look forward to the upcoming year as a larger and more focussed Group, with optimism.”

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