SigmaRoc PLC - Dublin-based building materials company specialising in lime and limestone - Issues notice of exercise of its call option, entered on November 22, to acquire the UK lime operations of CRH PLC, another building materials company based in Dublin. Expects completion by the end of March, for a total consideration of EUR155 million. Says the "UK target" generated revenue of EUR105.4 million an operating profit of EUR19.5 million in 2022. Company had in November already acquired CRH's lime operations in Germany, Ireland and the Czech Republic, and says it is pleased with their integration so far.
SigmaRoc says that the acquisitions present the opportunity to become "Northern Europe's leader in lime" and a key supplier to markets "critical for the green transition". Expects the combined CRH acquisitions "to be significantly cash generative", delivering cost synergies and revenue growth opportunities resulting in an earnings before interest, tax, depreciation & amortisation contribution of at least EUR30 million by the end of 2027.
Current stock price: 66.40 pence, up 1.5% late on Monday morning
12-month change: up 17%
By Emma Curzon, Alliance News reporter
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Sigmaroc. (SRC)
CRH (CRH)