Sparks - SigmaRoc

Industry increased to 36% of revenue from 32% in H125, supported by steel, pulp and paper and chemicals, while Environment represented 22% versus 23%, with improved flue gas treatment and water activity. Construction declined to 42% from 45%, although infrastructure recovered from Q1, including strong German aggregates demand from rail, road and energy projects; soil stabilisation and UK residential activity remained weak, while UK infrastructure was robust. SigmaRoc secured permitting for an additional 64mt of high-grade limestone at Klinthagen, subject to preservation controls and any appeal, and expects its Belgian aggregates plant to be commissioned on schedule and on budget in H226. The €825m investment-grade facility and €300m accordion increase acquisition capacity, while the group received an AAA MSCI ESG rating. The board maintained FY26 expectations in line with consensus of £1,066m revenue, £276m underlying EBITDA, 11.5p underlying EPS and 1.4x leverage, supported by energy transition, re-industrialisation, defence, AI investment and a potential construction recovery, while recognising continuing Middle East, energy-cost and end-demand risks. Interim results are scheduled for 7 September 2026.