Sigmaroc Investors - SRC

Sigmaroc Investors - SRC

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Stock Name Stock Symbol Market Stock Type
Sigmaroc Plc SRC London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
1.00 1.04% 97.00 09:52:56
Open Price Low Price High Price Close Price Previous Close
96.00 96.00 97.00 97.00 96.00
more quote information »
Industry Sector

Top Investor Posts

se81: thanks alter ego. it’s been tipped in this months momentum investor (released today) only part re greenbloc “Growth prospects are strong with 18 months of intensive R&D resulting in its launch of the country’s first cement-free ultra-low carbon dense concrete block. Delivering a 77% net reduction in C02 emissions per concrete block, Vermorken expects take-up from ESG conscious house builders will be strong.” decent write up though and nice to see some more coverage
clocktower: Well its been good and been a result for me, and I still think it has great potential but as I am out now I thought I would wish you all the best of luck and it is only because I wish to use my funds elsewhere and not because I believe that the share and company will not continue to perform well for investors. Cheers.
arregius: That is what The company said in their recent investor call, and what it was said in the results so I guess all aware
masurenguy: A great set of results as anticipated plus a very positive forward-looking statement ! SigmaRoc plc, the AIM listed buy-and-build construction materials group, is pleased to announce its audited results for the year ended 31 December 2020. Financial highlights(1) 31 December 2020: 31 December 2019: Change Underlying revenue: £124.2m: £70.4m: +76.6% Underlying EBITDA: £23.9m: £14.5m: +64.1% Underlying profit before tax: £12.2m: £8.4m: +45.2% Underlying EPS: 4.50p: 4.20p: +7% (1) Underlying results stated before acquisition related expenses, certain finance costs, redundancy and reorganisation costs, impairments, amortisation of acquisition intangibles and share option expense. References to an underlying profit measure throughout this Annual Report are defined on this basis. Max Vermorken, CEO, commented:"Despite the pandemic we were able to deliver an extremely strong performance, driving our revenues up by 64% to £124.2 million, and increasing Underlying EBITDA to £23.9 million. Underlying earnings per share grew by 7% to 4.50p in a year of very difficult trading conditions. Looking forward, we continue to seek ways to invest, improve, integrate and innovate, and in the first quarter of 2021 we launched our cement free concrete building block - Greenbloc. We also recently entered into an agreement with LafargeHolcim which will see an expansion of our aggregates operations in Belgium and, subsequent to that, we acquired two large-scale concrete suppliers in the Limburg area of Belgium. I am excited for the future path of the Group and I am optimistic that with our great workforce and support of our investors, we can continue to further grow and achieve strong results in the months and years ahead"
speny: Tiswas- ditto regarding stocko, certainly by far the best investment for investors who enjoy doing their own research. I came across src through ST at IC, otherwise doubt I'd had found it on stocko through their screens. There was an article on stocko about src and the low quality score, which I think was due to the low F and Z scores, dilution and debt. The quality score can only go one way from where it is! :-)
masurenguy: It is very positive to see some strong demand this morning with investors already paying a 6% premium over the announced placing price !
pastybap: It's not the Sunday Times. It was we-tipped by Simon Thompson (ST) in the Investors Chronicle.
napoleon 14th: SRC getting the ST/IC treatment SigmaRoc, a company that is pursuing a strategy of buying, improving and integrating platforms of companies in the heavy building materials sector, is trading far better than the market is giving it credit for. The group’s well respected management team is focused on acquiring cash-generative assets in niche markets that produce aggregates, concrete, precast and pre-stressed concrete. Since IPO in 2017, SigmaRoc has made nine acquisitions, all of which are asset-backed, control strong market shares in mainly regional markets, have strong customer relationships and offer scope to add value by improving operational efficiencies. A good example is Channel Islands based Ronez, previously a wholly owned subsidiary of Aggregate Industries, which was acquired for £45m in 2017. Ronez operates two quarries as well as multiple associated and downstream businesses. They offer a full range of construction materials for sale into the local market as well as providing services, including road contracting. The vertically integrated business has a dominant share of a low-growth but stable market in the Channel Islands, where construction accounts for 6 per cent of GDP. It’s worth noting that in the event of a downturn, capital expenditure at quarries with a 40-year life can be tightly reined in without impacting the quality of the assets. In a normal year, Ronez makes cash profit of around £7m and its £2.5m depreciation charge is in line with capital expenditure. So, even if cash profit declines by a fifth from £7m to £5.6m, capital expenditure can be reduced to protect Ronez’s profits and cash flow, highlighting the defensive qualities of the business, which mitigate economic risk. In the UK, SigmaRoc made three acquisitions (Allen, Poundfield and CCP) between October 2017 and January 2019, which form its pre-cast products group division. The group paid an average of 6.5 times cash profit based on total consideration of £40.1m including a deferred element of £6.5m. Strategically, the acquisitions have enabled SigmaRoc to take a strong position in the UK market for precast and pre-stressed products, targeting industrial and agricultural sectors, as well as housing and specialist infrastructure projects. The Conservative government’s pledge to ramp up investment in infrastructure projects was a bull point when I suggested buying SigmaRoc’s shares in my December 2019 Alpha Report (‘A General Election winner’, 12 Dec 2019). The point is that investors are only now cottoning onto the fact that SigmaRoc has remained profitable throughout the UK lockdown, adding weight to the ability of the group to continue to trade profitably this year. Pro-forma monthly revenues tracked 60 per cent of their normal run rate in April, rising to 98 per cent in May. Of course, the acceleration in profits this year, which I had anticipated, will not be as strong due to the lockdown. However, analysts at Peel Hunt still expect 2020 cash profit to rise by 16 per cent to £16.9m on revenue up 28 per cent to £90m, rising sharply to £24.4m and £102m, respectively, in 2021, when all nine of SigmaRoc’s acquisitions should be operating normally. On this basis, expect adjusted EPS of 2.3p in 2020 to double to 4.7p in 2021. The positive trading update, and news that SigmaRoc has increased its cash position during lockdown, explain why the shares have rallied back towards my 46p entry level, having previously been 16 per cent up prior to the stock market crash. Offering 50 per cent upside to my 60p target price, I continue to rate SigmaRoc's shares a buy on a 2021 PE ratio of nine and enterprise value to cash profit multiple of 6.5 times. Buy.
arregius: Anyone listened to investors call?
fc_0001: What do you even mean with a red flag? I'm hoping to see the stock rise like any honest investor, not to see it bashed gratuitously by uninformed comments...If you'd taken the time to read up on the company's latest acquisitions and understood their significance for future growth you'd hardly have posed the questions you did. If ever there was any red flag than it's your massively dubious attitude towards SRC.
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