SigmaRoc plc Q2 2026 Earnings Recap

SigmaRoc delivered a solid first half, but the +2.9% share-price reaction was broadly neutral rather than signaling a clear upside surprise. EBITDA rose 11.3%, margins expanded 200 bps, and management reiterated confidence in the full-year outlook, while construction remained soft and free cash flow before growth declined.

Key Takeaways

• EBITDA increased 11.3% year on year, EPS rose 12.2%, and EBITDA margin reached 25.1%, up 200 bps.
• Core volumes increased 1%, the first year-on-year increase in several years; however, construction—which represents 42% of group revenue—continued to face weak European residential demand.
• UK and Ireland revenue declined 1% year on year, while the West region saw a mix shift toward aggregates, resulting in slightly lower margins.
• Leverage strengthened to 1.66x, at the lower end of management’s target range; LTM ROIC approached 12%.
• The company agreed to acquire Lithuania-based Dolomitas for €110 million, representing a stated 6x EBITDA multiple on €18 million of EBITDA and €70 million of revenue, before synergies.