SigmaRoc (SRC) H2 2025 earnings summary

Executive summary

• Integration of acquired businesses completed, creating a unified group of 3,000 employees and a resilient operational platform, with early delivery of synergies.

• Positioned for European re-industrialisation and growth, leveraging operational leverage, infrastructure, and industrial trends.

• Portfolio optimized through asset sales, innovation, and decarbonisation initiatives enhancing value potential.

Financial highlights

• FY25 revenue reached £1,036m, up 4% year-on-year; EBITDA rose 16% to £262m, with margin up 280bps to 25.34%.

• EPS increased 26% to 10.51p, with record EPS 10.5% ahead of expectations.

• Net debt reduced to £472.4m from £510m, leverage at 1.8x EBITDA.

• Free cash flow conversion at 51%, supporting de-gearing and operational flexibility.

Outlook and guidance

• 2026 trading has started in line with expectations; H2 recovery anticipated, driven by German stimulus, housing, and demand rebound.

• Operational gearing, synergy programs, and self-help initiatives set to drive further bottom-line growth as volumes recover.

• Hedging and pass-through mechanisms in place to mitigate input cost volatility and macro risks.

• Active M&A pipeline and readiness for further expansion with new, flexible financing in place.