SigmaRoc Plc First quarter very positive
6th April 2017
SigmaRoc Plc (LON:SRC) CEO Max Vermorken catches up with DirectorsTalk to talk a little bit about the company and where it’s headed. Max provides us with an overview of the sector and its dynamics, how the company is positioning itself in the sector, it’s focus, it’s new subsidiary and why its key for the business and what to expect from the company going forward.
SigmaRoc Plc is an AIM quoted company pursuing a buy-and-build strategy in the construction materials sector. Launched on 22 August 2016, SigmaRoc brings together a highly experienced management team. In January 2017, the company completed its first acquisition via the £45 million purchase of Ronez Limited from Aggregate Industries, part of the LafargeHolcim Group. Ronez is a fully integrated and leading producer of construction materials in the Channel Islands.
Ronez currently operates two quarries, St John’s Quarry in Jersey and Les Vardes Quarry in Guernsey, as well as multiple associated and downstream businesses on both islands, producing a full range of construction materials for sale into the local market, including aggregates, ready mixed concrete, asphalt, precast concrete products and cement, as well as providing certain services, including road contracting. Ronez currently has approximately 3.36Mt of Proved Mineral Reserves (consented) and 6.22Mt total Mineral Resources (unconsented). In 2015, Ronez recorded revenue of £26.3 million, EBITDA of £5.0 million and profit before tax of £2.94 million.
Ronez is a cash-generating and profitable business, with an established track record, providing SigmaRoc with a platform to accelerate its growth within the construction materials sector.