REG - SigmaRoc PLC - Q3 Trading Update

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RNS Number : 0866E  SigmaRoc PLC  21 October 2025

21 October 2025

(EPIC: SRC / Market: AIM / Sector: Construction Materials)

 

SIGMAROC PLC

 ('SigmaRoc', the 'Group' or the 'Company')

 

 

Q3 Trading Update

Strong Q3 performance underpins confidence in full year expectations

 

SigmaRoc, the European lime and minerals Group, is pleased to provide an
update on trading for the nine months to 30 September 2025 (the 'Period').

 

 

Highlights:

 

·      Revenue(1) increased £775m (2024: £729m), up 6% YoY;

·      Underlying EBITDA(1) increased to £192.9m (2024: £165m), up 17%
YoY;

·      Underlying EBITDA(1) margin improved to 24.9% (2024: 22.6%), up
230bps YoY;

·      The Board remains confident in Full Year Expectations and expects
full year EPS to be no less than 9.5p(2).

 

 

Pro-forma highlights(3):

 

·      Revenues reduced 1% to £771m with volumes displaying similar
trends to H1;

·      Underlying EBITDA increased 5% versus the same period in 2024
thanks to strong delivery on synergies and further discipline on cost and cash
management;

·      Underlying EBITDA margin up 150bps to 24.9%.

 

 

 

Operational delivery

Further to our H1 update, we have seen encouraging developments in some
markets adding to continued trends in others. The UK&IRL continued to
perform well, leveraging a dynamic team and strategic market positioning.
Belgium is now showing some signs of recovery, as the Netherlands had already
demonstrated at our interims. Signs of optimism are also visible in Germany
with increased residential planning approvals. Infrastructure and industrial
output remained as discussed at the interims in the wider Central region,
taking into account some weakness in Polish infrastructure and industrial
customer maintenance shutdowns. The Nordic markets performed as expected where
we keep monitoring the decisions of some of our paper customers regarding
manufacturing locations.

The Group has also made tremendous progress on both its synergy programmes and
further self-help initiatives. These programmes have contributed to the solid
margin performance in the Period. Synergy delivery continued at pace, and we
expect a minimum of £21m for the full year. The focus on discretionary
spending and cost control will further enhance performance for the full
year.

 

Outlook

The Board remains confident of the delivery of a strong performance in 2025.
The Group has demonstrated its agility to counter pockets of market weakness
through proactive actions and self-help programmes. These, combined with
continued trading as discussed at the interims, positions the Group well for
the full year.

 

 

 

Max Vermorken, CEO of SigmaRoc, commented:

 

"Through this Q3 update the Group demonstrates again how its agile structure
and dedicated team is able to deliver in subdued markets. The temporary volume
weakness discussed in earlier updates persisted across Q3. The Group took
timely action with both synergies and self-help programmes.

 

As we look to the end of the year and beyond, we see little change in Q4 but
expect the demand picture to change with an improved construction outlook as
and when cyclical demand returns and the effects of the stimulus programmes
are felt. This is likely to create exciting years in the midterm. The German
stimulus programme will bring much needed support to industrial Europe and the
construction sector, further helped by actions taken by the European Union on
steel imports. These trends could materially improve the trading environment
for businesses like ours."

 

 

Notes: (1) From continuing operations; (2) Consensus expectations for
SigmaRoc, being the average of forecasts for the year ending 31 December 2025
provided by Analysts covering the Company, are revenue of £1,061m, underlying
EBITDA of £250m and EPS of 9.2p; (3) Pro-forma calculation includes all
continuing operations in full for 2024 and 2025.

 

Information on the Company is available on its website, www.sigmaroc.com.

 

For further information, please contact:

 

 SigmaRoc plc                                Tel: +44 (0) 207 002 1080

 Max Vermorken (Chief Executive Officer)

 Jan Van Beek (Chief Financial Officer)      ir@sigmaroc.com (mailto:ir@sigmaroc.com)

 Tom Jenkins (Head of Investor Relations)

 Panmure Liberum (Nomad and Co-Broker)       Tel: +44 (0) 203 100 2000

 Scott Mathieson / John More / Dru Danford

 Deutsche Numis (Co-Broker)                  Tel: +44 (0) 20 7260 1000

 Richard Thomas / Hannah Boros

 

About SigmaRoc plc:

SigmaRoc is a quoted European lime and minerals Group.

Lime and limestone are key resources in the transition to a more sustainable
economy. New applications for lime and limestone products as part of a drive
for sustainability include the production and recycling of lithium batteries,
the decarbonisation of construction including through substitution of
cementitious material and new building materials, and environmental
applications including lake liming, air pollution and direct air capture.

SigmaRoc invests in and acquires businesses in the lime and minerals sector.
The principal activity of the Group is the production of lime and minerals
products. The Group's aim is to create value for shareholders through the
successful execution of its strategy in the lime and minerals sector.

SigmaRoc seeks to create value by purchasing assets in fragmented markets and
extracting efficiencies through active management and by forming the assets
into larger groups. It seeks to de- risk its investments through the selection
of projects with strong asset backing. The Group seeks to implement
operational efficiencies that improve safety, enhance productivity, increase
profitability and ultimately create value for Shareholders.

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