SigmaRoc, the London-headquartered buy-and-build international building materials group, reports a “transformational” year’s trading in 2024 and has given a promising outlook for 2025.
Group revenue was up 72% YoY (year-on-year) at c. £998mn (FY23: £580m), reflecting the contribution from lime and limestone asset acquisitions, which doubled the Group’s size. Underlying EBITDA is expected to exceed £222mn, up 90% YoY (FY23: £116.7mn). EBITDA margin improved to 22.3%, increasing 220bps YoY.
SigmaRoc disposed of its non-core Belgian and French concrete plants in 2024. The Group also reports it is in advanced discussions to replace its bridge loan on more favourable terms. Last year, it strengthened its board by appointing two independent non-executive directors.
SigmaRoc’s synergy programme remains on track with a €35mn minimum (increased from €30mn in the interims) expected and a target of €60mn by year-end 2027. Restructuring and cost-saving initiatives implemented in Germany, the Nordics and Belgium were completed in 2024, contributing to the synergy programme from 2025.
Max Vermorken, CEO of SigmaRoc, 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 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.
“During the year, we welcomed a new CFO, Jan van Beek, and I would like to thank his predecessor, Garth Palmer, for his years of dedicated service. In addition, we appointed two experienced independent non-executive directors to the Board during the year, Francesca Medda and Peter Johnson. They have both played an active role in the development of the Group, joining our various Board committees, which have been updated following their appointments in line with best corporate governance practice.
“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.”