Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
SigmaRoc set to top full-year expectations for 2023
(Sharecast News) - Lime and limestone specialist SigmaRoc said in an update on Thursday that it was set to surpass consensus expectations for 2023, with full-year revenues reaching around £580m - an 8% increase year-on-year, despite a 4% reduction in volumes. The AIM-traded firm said like-for-like revenue growth stood at 2%.
Underlying EBITDA was projected to exceed £116m, with EBITDA margins at 20%, up 110 basis points.
Underlying earnings per share were expected to exceed 8p, despite increased finance costs and the dilution from a February cash raise.
Leverage for 2023 was expected to be below 1.6x.
In November, SigmaRoc announced a significant conditional acquisition of lime and limestone assets from CRH, with the first phase completed on 4 January.
Post-acquisition, the company successfully syndicated a new €875m debt facility.
Looking forward to 2024, SigmaRoc said its outlook remained unchanged, with continued strength expected in infrastructure construction and industrial markets, along with potential improvements in residential construction.
"2023 has been another transformational year for SigmaRoc - we completed a number of bolt-on acquisitions during the year, which have been integrated well and enhanced performance in a number of our businesses," said chief executive officer Max Vermorken.
"In November, we announced the acquisition of a significant portfolio of lime and limestone assets from CRH, creating a leading Northern European industrial minerals platform and a key supplier to a number of structural growth markets.
"We also welcome the Fels-Werke, Vitosov. and Clogrennane teams into the SigmaRoc Group."
Vermorken reported an encouraging start to 2024, with the enlarged company confident that its strategic focus on lime and limestone could "deliver strongly" in the coming years.
"Lime is an essential product for life, used in multiple areas of the economy, from construction to industry.
"It is essential for the green transition, being used in a number of processes, including flue gas cleaning, slaking rivers and lakes, and the manufacture of lithium batteries.
"We look forward to the upcoming year, as a larger and more focussed Group, with optimism."
SigmaRoc said it would publish its audited results for the year ended 31 December by the end of March.
At 1525 GMT, shares in SigmaRoc were up 0.27% at 62.37p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
