TIDMSRC
RNS Number : 8133V
SigmaRoc PLC
16 December 2021
16 December 2021
(EPIC: SRC / Market: AIM / Sector: Construction Materials)
SIGMAROC PLC
( ' SigmaRoc ', the 'Group' or the 'Company')
Update on Trading and Greenbloc
Appointment of Independent NED
SigmaRoc (AIM: SRC), the AIM quoted buy-and-build construction
materials group, is pleased to update the market on its performance
for the 11 months to 30 November 2021 (the 'period'), as well as
several key developments in the Group:
Trading Update
- Group revenues for the period were GBP236.5m, up 107% over the prior year.
- Like-for-like revenues increased 13.4% year-on-year in the
period, including like-for-like growth of 9% against a strong
comparative period in H2.
- Cost inflation continues to be effectively managed, supported by contractual pass through.
- Product availability has remained good, in spite of supply chain challenges.
The Group has traded well through the period, with sustained
demand maintained in all key end market and customer segments. The
outlook for residential and infrastructure construction remains
very encouraging across the Group's UK and Northern European
markets, with demand for higher grade materials for pulp, board,
steel, environmental and chemical applications also supported by
structural growth drivers.
As a result of the continued solid trading, the Board remains
confident in the Company delivering an underlying EBITDA
performance for the full year ahead of analyst consensus.
The business is carrying good momentum into the year end, which
should support further organic progress in 2022. In addition, there
are a number of active initiatives currently in process, supported
by the Group's strong cash generation, which have the potential to
further accelerate growth and strategic development of the
business.
Nordkalk integration
Since completing the acquisition of Nordkalk on 31 August 2021,
work to integrate the Nordkalk business within SigmaRoc's platform
setup has progressed well. A series of eight integration
initiatives have been completed or are ongoing, covering reporting,
finance, IT, governance, safety, trading, production and
investment. The integration process has engendered a strong
collaborative approach between Nordkalk and SigmaRoc, which is
already identifying potential incremental value opportunities from
the combination. Several workstreams on product development and
investment initiatives are underway, with the aim to increase
materials utilisation within various Nordkalk quarries.
Updates on Greenbloc
The Group is also pleased to announce several key developments
for Greenbloc, its ultra-low carbon concrete products line. The
Group has significantly expanded the channel base for its Greenbloc
products, which are now available through a number of merchants and
buying groups across the UK, including Travis Perkins, Jewson,
Buildbase, Huws Gray, MKM, EH Smith, H&B and Fortis. The Group
is also currently working with several major contractors on
significant commercial and infrastructure projects.
As of January 2022, the Group will offer Greenbloc technology
across its concrete products business, becoming the first concrete
products supplier in Europe to offer ultra-low carbon concrete
products across its entire range.
Proposed appointment of Independent Non-Executive Director
Axelle Henry
SigmaRoc is also very pleased to announce the proposed
appointment of Ms Axelle Henry as an Independent Non-Executive
Director, with effect from March 2022, subject to satisfaction of
customary new director due diligence and onboarding processes.
Ms Henry has served as Chief Financial Officer for Verlinvest
Group, a Brussels-based international investment business, since
April 2014 and also serves on the board of directors for a number
of their private companies, as well as Nasdaq quoted Vita Coco. She
has held a variety of senior executive positions, including as
Deputy Chief Financial Officer of Groupe Bruxelles Lambert. Ms
Henry has over 20 years' experience in the Private Equity and
Investment Sector, starting her career with KPMG as senior auditor.
She holds degrees in commercial engineering from the Solvay
Business School (Université Libre de Bruxelles).
David Barrett, Chairman of SigmaRoc, commented:
"We look forward to welcoming Axelle Henry to the board of the
business. Her experience and profile will not only reinforce the
quality of the board but bring a fresh perspective on building
companies based around innovation, brands and consumer focused
products. We look forward to starting a new year with a high
quality Group of businesses and plenty of potential to drive them
forward."
Max Vermorken, CEO of SigmaRoc, commented:
"I am very pleased we can end a very busy year on such a
positive note. The Group is trading well, we have a large number of
projects and initiatives in the pipeline, our Greenbloc products
are gaining more and more attention and our board is set to gain a
very talented new member. 2022 is expected to bring further
development of the Group as we build on the six platforms across
the UK and Northern Europe."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014, which forms part of United
Kingdom domestic law by virtue of the European (Withdrawal) Act
2018.
Information on the Company is available on its website,
www.sigmaroc.com .
SigmaRoc plc Tel: +44 (0) 207
Max Vermorken 002 1080
Strand Hanson Limited (Nominated and Financial Tel: +44(0) 207 409
Adviser) 3494
James Spinney / James Dance / Rob Patrick
Liberum Capital (Co-Broker) Tel: +44 (0) 203
Neil Patel / Jamie Richards / Ben Cryer 100 2000
Peel Hunt (Co-Broker) Tel: +44 (0) 20 7418
Mike Bell / Ed Allsopp 8900
Investor Relations Tel: +44 (0) 207
Dean Masefield / Florian Werner 002 1080
ir@sigmaroc.com
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END
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