SigmaRoc (LSE:SRC) said it now expects to exceed its 2025 earnings-per-share guidance by around 10%, supported by strong synergy delivery and disciplined cost control. Underlying EBITDA is forecast to rise by more than 16% to over £262 million on revenue of £1.04 billion, with a marked improvement in profitability despite softer end-market volumes.
The group reported that underlying EBITDA margins have increased to around 25%, reflecting the benefits of integration synergies from recent acquisitions in the UK and Poland, alongside deliberate volume reductions linked to network optimisation. Covenant leverage has been reduced to approximately 1.8 times, while return on invested capital has improved to above 12%. Management highlighted that its €40 million recurring synergy target has been achieved two years ahead of schedule.
Strategic progress during the year included the disposal of three non-core businesses, the launch of a refinancing initiative to expand funding capacity for future acquisitions, and continued advancement across ESG priorities, including kiln decarbonisation. SigmaRoc’s ventures arm also remained active, supporting innovation and longer-term growth opportunities as the group consolidates its position in European lime and limestone markets.
Looking ahead to 2026, management struck a cautiously optimistic tone, citing potential tailwinds from German infrastructure stimulus, signs of stabilisation in the European steel sector, increased defence and green-economy investment, and more supportive financial conditions. At the same time, the group said it remains focused on cost discipline amid ongoing weather-related and geopolitical risks.
From an investment perspective, SigmaRoc’s outlook is underpinned by strong financial performance, improving margins and supportive technical indicators, alongside a stable balance sheet. These strengths are partly offset by a relatively high valuation multiple and the impact of recent project setbacks, which slightly temper the otherwise positive medium-term view.
More about SigmaRoc
SigmaRoc is a European producer of lime and limestone products serving construction, steel and a range of industrial end-markets across the UK, Ireland, Benelux, Germany, the Nordics and Central Europe. The group has pursued a strategy of growth through acquisitions, portfolio optimisation and an expanding ventures arm, while positioning itself around long-term structural themes such as decarbonisation, sustainable construction and electrification.
Leave a Reply