REG - Breedon Group PLC - AGM Trading Update

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RNS Number : 5146G  Breedon Group PLC  29 April 2025

 

29 April 2025

BREEDON GROUP PLC

 

AGM Trading update

 

Breedon Group plc (Breedon or the Group), a leading vertically-integrated
construction materials group in Great Britain, Ireland and the United States,
today provides the following trading update ahead of the Group's Annual
General Meeting being held later today.

 

Reported Revenue in the quarter increased by 9% compared with Q1 2024,
benefiting from contributions from the BMC and Lionmark acquisitions.
 Activity across the Group was impacted by poor weather conditions in the
period, particularly in the USA, and on a like-for-like(1) basis revenue
increased fractionally with a slight improvement in volumes and broadly stable
pricing.

 

Highlights:

·      In GB enquiry levels remained elevated and volumes across all key
product groups were slightly ahead of Q1 2024. Our surfacing business
continued to win high quality work on the road network and in airfield
resurfacing.

·      Ireland had a busy tendering season although has seen delays in
certain key infrastructure projects with volumes in the quarter modestly
behind Q1 2024.

·      In the USA volumes in the quarter were impacted by challenging
weather conditions, most notably an extended period of below freezing
temperatures. We exited the quarter with healthy backlogs having secured
encouraging pricing for the construction season. We completed the acquisition
of Lionmark and its integration is proceeding according to plan.

·      Cement completed two scheduled kiln maintenance shutdowns, on
time and within budget. We made further advances in the use of alternative
fuels and continued to advance the provision of lower clinker content
products. The ARM project at Hope and the bagging plant and solar farm at
Kinnegad are nearing completion and are expected to be commissioned during Q2.
Cement volumes were slightly lower in the period.

 

Rob Wood, Chief Executive Officer, commented:

"In the first quarter we have grown our revenues and delivered on our
strategic objectives against an increasingly uncertain economic backdrop.
Although weather conditions were again challenging, underlying levels of
demand remained supportive.  We welcomed our new Lionmark colleagues to the
Group and the acquisition has increased our vertical integration and
diversified our US exposure towards infrastructure and growing state road
maintenance budgets.

 

"The very nature of our business, supplying local products to local
businesses, provides some insulation in the current economic climate. While
the Board's expectations for 2025 remain unchanged we have enhanced our focus
on self-help, driving operational and commercial excellence, further unlocking
efficiencies and optimising capacity. While visibility is reduced, we remain
optimally positioned to benefit when construction market activity improves."

 

Notice of results:

 

Breedon will announce its interim results for the six months ending 30 June
2025 on Wednesday 23 July 2025.

 

Notes:

1.     Like-for-like reflects reported values adjusted for the impact of
acquisitions and disposals.

 ENQUIRIES
 Breedon Group plc                                +44 (0) 1332 694010
 Rob Wood, Chief Executive Officer

 James Brotherton, Chief Financial Officer
 Louise Turner-Smith, Head of Investor Relations  +44 (0) 7860 911909
 MHP (Public relations adviser)                   +44 (0) 7770 753`544
 Reg Hoare, Rachel Farrington, Charles Hirst      breedon@mhpgroup.com

About Breedon Group plc

Breedon Group plc, a leading vertically-integrated construction materials
group in Great Britain, Ireland and the United States delivers essential
products to the construction sector. Breedon holds 1.5bn tonnes of mineral
reserves and resources with long reserve life, supplying value-added products
and services, including specialty materials, surfacing and highway maintenance
operations, to a broad range of customers through its extensive local network
of quarries, ready-mixed concrete and asphalt plants.

The Group's two well-invested cement plants are actively engaged in a number
of carbon reduction practices, which include utilising alternative raw
materials and lower carbon fuels. Breedon's 4,900 colleagues embody our
commitment to 'Make a Material Difference' as the Group continues to execute
its strategy to create sustainable value for all stakeholders, delivering
growth through organic improvement and acquisition in the heavyside
construction materials market. Breedon shares (BREE) are traded on the Main
Market of the London Stock Exchange and are a constituent of the FTSE 250
index.

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LEI: 213800DQGNQE3X76WS92

 

 

 

 

 

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