21st Oct 2026 07:00
21 October 2026
(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 expectations1
SigmaRoc, the European lime and minerals Group, is pleased to provide an update on trading for the nine months to 30 September 2026 (the ‘Period’).
Highlights:
Improvement in revenues, EBITDA and margins across the first nine months of the year;Revenue increased 2.5% in the Period to £795m (2025: £775m);Underlying EBITDA increased 7.5% to £207.3m (2025: £192.9m);Underlying EBITDA margin improved to 26.1% (2025: 24.9%), up 120bps;Volumes in Q3 evolved broadly in line with the first half;Acquisition of AB Dolomitas for €110m;The Board remains confident in full year expectations1.
Operational delivery
Further to our H1 update, operational discipline has supported growth in EBITDA and EBITDA margins in the Period, both showing improvement against the prior period comparator.2
All end market sectors (industry, environment and construction) demonstrated revenue growth in Q3 although some geographic markets remain more challenging than others. The industrial and environment sectors showed similar trends to H1, whilst the construction sector returned to growth in Q3 after a slight decline in the first half.
Total volumes demonstrated some improvement in Q3, evolving in line with the first half of the year. An improved performance from infrastructure, industrial and environmental markets has mostly countered the very subdued conditions that have remained in residential construction markets across Europe.
Strategic delivery
Acquisition of AB Dolomitas for €110m, a leading Lithuanian dolomite business with 3.5m tonnes of annual production of high-quality dolomite and ~ 45 years of reserves and resources. The acquisition aligns with SigmaRoc’s continued focus on high-quality minerals businesses and serves to develop our presence in the Baltics.
Outlook
The Group continues to demonstrate resilience against a backdrop of subdued activity in certain end markets, and amidst geopolitical and macroeconomic uncertainty. Whilst there are potential catalysts for improved market conditions, the timing and extent of this remains difficult to predict. However SigmaRoc is well positioned to benefit from improved conditions, as and when they occur.
The Board’s view on the full year 2026 outlook remains unchanged.1
Max Vermorken, CEO of SigmaRoc, commented:
“Despite continuing uncertainty in some markets, Q3 trading demonstrates the effectiveness of our business model. Our agile structure, focus on operational excellence, and the hard work of our whole team has once again delivered a solid result.
We are delighted by the acquisition of AB Dolomitas, which is expected to complete later this year, and is be earnings enhancing for 2027.
We see little change in Q4 in terms of the current market uncertainties. However potential tailwinds remain, with EU support for sectors such as steel and mining continuing, the German stimulus programme being ongoing, and the potential for a cyclical recovery in residential construction all able to contribute to a meaningful improvement in our business in due course. Whilst it is too early to call their arrival, we remain hopeful that these tailwinds will at some point deliver an improved trading environment in which SigmaRoc will flourish.”
Notes: 1 Consensus expectations for SigmaRoc, being the average of forecasts for the year ending 31 December 2026 provided by Analysts covering the Company, are revenue of £1,074m, underlying EBITDA of £280m (range £276m to £285m), and underlying basic EPS of 11.6p. 2 Q3 comparative numbers already include the effect of the internalisation of logistics in the UK market.
Information on the Company is available on its website, www.sigmaroc.com.
For further information, please contact:
SigmaRoc plc Max Vermorken (Chief Executive Officer) Jan Van Beek (Chief Financial Officer) Tom Jenkins (Head of Investor Relations)
| Tel: +44 (0) 207 002 1080
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Panmure Liberum (Nomad and Co-Broker) Scott Mathieson / John More / Dru Danford
Deutsche Numis (Co-Broker) Richard Thomas / Hannah Boros
| Tel: +44 (0) 203 100 2000
Tel: +44 (0) 20 7260 1000
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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.
Related Shares:
Sigmaroc.