Sigmaroc (SRC)

Sector:

Construction and Building Materials

Index:

FTSE AIM 50

69.00p
   
  • Change Today:
      0.70p
  • 52 Week High: 70.40
  • 52 Week Low: 45.00
  • Currency: UK Pounds
  • Shares Issued: 1,114.85m
  • Volume: 2,267,222
  • Market Cap: £769.25m
  • RiskGrade: 161

SigmaRoc exercises option to buy CRH UK lime operations

By Josh White

Date: Monday 04 Mar 2024

LONDON (ShareCast) - (Sharecast News) - Lime and limestone company SigmaRoc announced the exercise of the call option to acquire the UK lime operations of CRH for €155m (£133m) on Monday.
The AIM-traded firm said the acquisition was set to be completed by the end of March.

It said the move followed its conditional acquisition of CRH's lime businesses in Germany, the Czech Republic and Ireland, alongside the UK target.

The UK target consists of CRH's Tarmac Shelfco entity, a prominent producer of lime products in the UK, established in 1891 and based in Buxton, Derbyshire.

It said the business operates from sites in Tunstead and Hindlow, boasting five permitted kilns.

In the year ended 31 December 2022, the UK target generated revenue of €105.4m and an operating profit of €19.5m.

The consideration for the target would be met through a drawdown under SigmaRoc's new facilities.

SigmaRoc said the acquisitions gave it the opportunity for it to emerge as Northern Europe's leader in lime and a significant supplier to key markets crucial for the green transition.

Lime and limestone play pivotal roles in fostering sustainability, with new applications including lithium battery production, construction decarbonisation, and environmental applications such as lake liming and air pollution mitigation, the board explained.

The lime market was expected to grow to €1.9bn in 2031 across the enlarged group's markets.

SigmaRoc said the enlarged group post-acquisition was expected to generate substantial cash flow, with a free cash flow target surpassing £100m annually, enabling gradual deleveraging.

The targets collectively delivered revenue of €579.7m and EBITDA of €133.7m in the 2022 financial year, with an EBITDA margin exceeding 20%.

Revenue growth opportunities and cost synergies were projected to contribute at least €30m in EBITDA by 31 December 2027.

At 1054 GMT, shares in SigmaRoc were up 1.54% at 66.4p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Sigmaroc Market Data

Currency UK Pounds
Share Price 69.00p
Change Today 0.70p
% Change 1.02 %
52 Week High 70.40
52 Week Low 45.00
Volume 2,267,222
Shares Issued 1,114.85m
Market Cap £769.25m
RiskGrade 161

Sigmaroc Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
87.77% above the market average87.77% above the market average87.77% above the market average87.77% above the market average87.77% above the market average
79.49% above the sector average79.49% above the sector average79.49% above the sector average79.49% above the sector average79.49% above the sector average
Price Trend
58.71% above the market average58.71% above the market average58.71% above the market average58.71% above the market average58.71% above the market average
25% below the sector average25% below the sector average25% below the sector average25% below the sector average25% below the sector average
Income Not Available
Growth
69.02% above the market average69.02% above the market average69.02% above the market average69.02% above the market average69.02% above the market average
78.95% above the sector average78.95% above the sector average78.95% above the sector average78.95% above the sector average78.95% above the sector average

What The Brokers Say

Strong Buy 4
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 5
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Sigmaroc Dividends

No dividends found

Trades for 19-Jul-2024

Time Volume / Share Price
17:11 90,063 @ 68.37p
17:14 90,063 @ 68.37p
16:13 100,000 @ 68.66p
16:35 98,235 @ 69.00p
16:35 20,017 @ 69.00p

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