SigmaRoc plc reported first‑half 2026 revenue of £523 million, a 2.6% year‑on‑year increase from £510 million. EBITDA rose to £178 million, up 11.3% from the prior period, expanding the margin to 25.1% – a 200‑basis‑point improvement. Earnings per share grew 12.2% and operating profit reached £82 million, slightly above the £81 million a year earlier. Return on invested capital was about 12%, a 0.5‑percentage‑point rise, while free‑cash‑flow conversion held at 46% versus 45% last year. Net leverage improved to 1.66 times, down from 1.80 times, remaining within the company’s 1.5‑2.0 times target range.
Capital spending in the period was £27 million, primarily for a new aggregates plant in Belgium designed for 2 million tonnes of annual capacity and completed on schedule and budget. Working‑capital investment rose to €14 million from €7 million a year earlier.
Operationally, core volumes increased 1% year‑on‑year, marking the first rise in several years, while total volumes fell 3% after the termination of lower‑margin contracts. High‑grade volumes grew 8.5%. Construction, which accounts for 42% of group revenue, remained weak amid soft residential markets in Europe. Industrial and environmental segments performed better, the former aided by steel‑sector quotas and tariffs, and the latter posting a 7% revenue increase driven by water‑treatment and flue‑gas projects. Revenue in the U.K. and Ireland slipped 1%, though EBITDA improved following haulage restructuring, while the Nordics and Central Europe delivered stronger growth supported by pricing.
The company announced the acquisition of Dolomitas in Lithuania, a producer of dolomitic limestone with 3.5 million tonnes of reserves and a 45‑year resource life. Dolomitas generated €70 million in turnover, a 25.7% margin and €18 million EBITDA. SigmaRoc agreed to pay €110 million, equivalent to roughly six times EBITDA, with part of the consideration in shares. The deal is expected to close in Q3‑Q4 2026 and is described as immediately earnings‑enhancing.
Synergies from the earlier CRH acquisition have already delivered €45 million of cost savings, with another €15 million to be realised to meet the €60 million target. Energy, fuel and carbon expenses represent roughly 26‑27% of total cost of sales, and tax expense was about 20% of profit before tax, lower than the usual 22% guidance due to prior refunds.
Shares jumped 12.63% to $144.5, trading near the 52‑week high of $153 and well above the low of $105. CEO Max called the results “fantastic,” highlighting the EBITDA and EPS gains, while CFO Jan noted the firm’s limited exposure to energy costs and its ability to pass through price pressures.
