SigmaRoc (SRC) Q2 2026 TU earnings summary

Executive summary

• Delivered strong H1 2026 performance with revenue up 2.5% year-over-year and EBITDA up 11.3%.

• Achieved first increase in like-for-like core volumes in three years, with Q2 recovery after weather-impacted Q1.

• Profitability and margins improved significantly, driven by operational excellence and cost control.

• Integration of CRH Lime and Limestone deal delivering visible synergies and further benefits expected.

• Board remains confident in delivering full year results in line with consensus expectations.

Financial highlights

• Revenue rose to £523.1m from £510.3m (+2.5% year-over-year).

• EBITDA increased to £131.2m from £117.8m (+11.3%), with margin up 200bps to 25.1%.

• EBIT grew to £89.5m from £86.1m (+3.9%).

• EPS up 12.2% to 5.23p; FCF up 8.2% to £67.0m.

• LTM ROIC improved by 50bps to 11.8%.

Outlook and guidance

• Full year outlook unchanged; Board confident in meeting consensus for FY26: revenue £1,066m, EBITDA £276m, EPS 11.5p, leverage 1.4x.

• Structural demand supported by energy transition, re-industrialisation, defence spending, and AI/data centre investment.

• Cyclical recovery in construction, especially residential, expected to enhance growth.

• Continued focus on cost control and mitigation of energy and geopolitical risks.