Shares of SigmaRoc PLC surged over 12% on Monday following a double dose of positive news, as the European lime and minerals group posted higher first-half earnings and announced a major strategic acquisition in the Baltic region. The company recorded an adjusted pretax profit of £75.1 million for the first half of the year, marking a solid improvement from £67.4 million during the same period last year. (Investing.com)
Adding momentum to its strong financial results, SigmaRoc revealed an agreement to acquire Lithuanian dolomite producer Akcinė Bendrovė “Dolomitas” from its current shareholders. The transaction values Dolomitas at €110 million on a debt and cash-free basis, with an additional €8 million earmarked for non-core assets. Among these secondary assets is an industrial plot of land near the port of Klaipėda, which offers future strategic development potential for importing, exporting, and processing aggregates.
Established in 1964, Dolomitas operates as a leading player in the Baltic region with an annual production of approximately 3.5 million tonnes of high-quality dolomite. It boasts roughly 25 years of existing reserves and resources, alongside the potential to secure additional supply for another two decades. Dolomite, a magnesium-rich subgroup of high-grade limestone, serves as an essential raw material across multiple industrial sectors, including the emerging green steel market. Dolomitas provides more than 40 product variations to its regional client network, supported by extensive logistics infrastructure that features its own transport fleets, rail wagons, and distribution terminals in major Lithuanian cities.
The acquisition strongly aligns with SigmaRoc’s strategic mandate to expand its footprint in high-grade mineral reserves across Europe. The addition of Dolomitas will integrate directly into SigmaRoc’s existing Baltics platform, augmenting current operations in Lithuania, Latvia, and Estonia through increased scale and expanded product offerings. For the twelve months ended December 31, 2025, Dolomitas generated €70 million in revenue and €18 million in EBITDA, delivering an operating margin above 25%. Expected to complete in the fourth quarter of 2026 pending regulatory approvals, the deal is set to enhance SigmaRoc’s earnings starting in 2027.
To fund the €110 million purchase price, SigmaRoc will draw €90 million from existing cash resources and issue €20 million worth of vendor shares at the sellers’ explicit request. A total of 13,333,334 new ordinary shares will be issued at 129 pence per share, based on the four-week volume-weighted average price through September 3, 2026. The selling shareholders have agreed to a 12-month lock-in period following admission to trading on AIM. Once admitted, the group’s total issued share capital will stand at 1,128,187,864 ordinary shares.
Max Vermorken, Chief Executive Officer of SigmaRoc, highlighted that the transaction represents a significant operational step aligned with the goals laid out at the company’s Capital Markets Day. He noted that Dolomitas is a highly asset-backed, self-contained business with significant expansion capacity in high-growth Baltic markets. Vermorken emphasized that despite the acquisition, SigmaRoc maintains strong balance sheet flexibility to pursue further value-accretive opportunities in the fragmented European lime and minerals industry.
