3rd Feb 2025 09:37
(Alliance News) - SigmaRoc PLC on Monday said it expects revenue to underperform against market consensus, amid tough market conditions, though it still will be much higher than a year before.
Despite the revenue miss, the London-based building materials company said it expects profit to top consensus.
The company expects underlying earnings per share to be around 8.3 pence per share for 2024, around 10% ahead of consensus and 3% ahead of what it achieved in 2023.
Revenue is expected to be 72% higher year-on-year at GBP998 million from GBP580 million, on the contribution from acquisitions. This would be 5.5% below the average of market forecasts of GBP1.06 billion.
Underlying earnings before interest, tax, depreciation and amortisation will be up 90% to GBP222 million from GBP116.7 million.
The firm, whose offering is used in construction, agriculture, environmental and industrial markets, said 2024 was characterised by the "transformational acquisition of lime and limestone businesses from CRH [PLC]".
SigmaRoc Chief Executive Officer Max Vermorken 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. "
The CEO added: "We have delivered good results despite the challenging backdrop, and we are 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."
Looking ahead, SigmaRoc said: "The board remains confident in the group's ability to deliver another successful year, and to build on its leadership offering to customers in the lime and limestone sectors. Whilst the economic backdrop across Europe remains mixed, the group will maintain its disciplined approach to cost management and focus on executing its strategy and successful delivery of synergies."
Overall, SigmaRoc is well positioned for 2025, as a leading European lime and limestone company and the board's current outlook for FY25 remains unchanged, with covenant leverage expected to continue to reduce."
The company aims to release 2024 results by the end of March.
SigmaRoc shares were 1.2% lower at 72.11 pence each on Monday morning in London.
By Tom Budszus, Alliance News slot editor
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