SigmaRoc post strong half-year results
Group reports strong sales, EBITDA, and underlying earnings per share
AIM-listed heavy construction materials group SigmaRoc have reported a positive start to the year with revenue up 18%, on a like-for-like basis, to £248 million for the six months to 30 June 2022, compared with the same period last year, while underlying EBITDA was up 6% to £48 million.
Underlying EBITDA margins also improved to 19.2% for the first half of 2022, thanks to the effectiveness of contractual pass-through mechanisms, dynamic pricing, and continued cost management. Underlying earnings per share for the half year was over 3.6p, representing an increase of more than 35% from the first half of 2021, demonstrating the value accretion from the Nordkalk acquisition and effectiveness of the Group’s operational improvement programmes.
As a result of this solid trading performance and the cash management strategies implemented, SigmaRoc said good momentum has been carried into H2 2022 with the Group continuing to benefit from its diversified business model.
Demand remains good both for housing and infrastructure related demand, as well as for industrial minerals. SigmaRoc say they have successfully dealt with the various supply chain and inflationary headwinds in H1 2022, with further improvement initiatives planned for H2 2022.
Max Vermorken, chief executive officer of SigmaRoc, commented: ‘To state the obvious this was a first half unlike any other, yet the Group performed extremely well. Input cost increases were managed, and further cost reduction initiatives were implemented.
‘We closed H1 2022 with a strong performance and remain encouraged by the demand outlook in all segments for the months ahead. Our focus remains squarely on developing our Group in terms of products and geography, and we remain very confident in delivering good financial and strategic progress both in the current year and over the medium term.’
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