AGM Statement
Summary by AI BETAClose X
30 April 2026
(EPIC: SRC / Market: AIM / Sector: Construction Materials)
SIGMAROC PLC
('SigmaRoc', the 'Group' or the 'Company')
AGM Statement
Q1 profitability ahead of 2025, and in line with expectations
Outlook for 2026 unchanged
SigmaRoc, a leading European lime and minerals group, today announces an update on its first quarter trading for the 2026 financial year ('Q1' or the 'Period'), in advance of the Annual General Meeting to be held at 3:00pm today at Durrants Hotel, 26-32 George Street, London, W1H 5BJ.
Q1 update
We are pleased to report a solid start to 2026.
Volumes grew modestly year on year absent harsh weather effects causing construction delays in Central and Northern Europe. Total volumes reduced by 3% reflecting the extreme winter conditions. The benefits of mix and pricing resulted in revenue for the Period flat year on year at £251.5m.
Underlying EBITDA for the Period increased to £54.9m, 12% up year on year, due to effective cost management as well as the internalisation of certain logistics operations. Underlying EBITDA margins for the Period continued to improve by 250bps year on year to 21.8%. Operating profits increased 4% year on year reflecting the continued impact of self-help programmes.
Outlook
Through March we saw trading improve as weather disruptions eased. There are signs of increased levels of European steel production resulting from the recent changes to EU tariffs and quotas reducing the level of imports. We continue to assess the impact of German stimulus spending, which is likely to materialise from H2 2026 onwards.
The uncertainties related to the situation in the Middle East are being monitored, and we will take appropriate actions if trading is impacted. However, the Group already has a number of strategies in place that naturally mitigate the effects of any energy price volatility which includes hedging, pass-through mechanisms and the ability to switch fuel sources.
SigmaRoc also benefits from highly diversified end markets with potential opportunities coming from areas such as increased lime use in agriculture, due to higher fertilizer costs, and additional demand for lime resulting from increasing use of coal fired power stations. The Directors therefore remain confident in SigmaRoc's ability to make further progress in the current year and beyond. The Board's outlook for FY26 remains unchanged.
Max Vermorken, Chief Executive Officer, commented:
"Our Q1 2026 financial performance evolved as we had hoped, with profitability in line with budget and ahead of last year. Modest volume growth absent weather disruption signals that the business is well placed to take advantage of a European recovery. Steel volumes were encouraging, as were the early signs of a housing recovery in our core markets. Severe weather disruptions overshadowed these trends somewhat but could not hide the generally improved sentiment and market backdrop in the first quarter.
Presently we keep monitoring two key developments and their impact. Firstly, the conflict in the Middle East and its potential impact on end demand, although our diversified end markets provide resilience against shocks, which the business has previously demonstrated. Secondly, we are awaiting the impact of German stimulus materialising in the latter part of this year. These head and tail winds are challenging to assess or predict. We remain, however, optimistic about the year and the prospects of the SigmaRoc Group both for 2026 and beyond."
Information on the Company is available on its website, www.sigmaroc.com.
For further information, please contact:
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SigmaRoc plc Max Vermorken (Chief Executive Officer) Jan Van Beek (Chief Financial Officer) Tom Jenkins (Head of Investor Relations)
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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
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 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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