Page 139 - Sigmaroc Annual-Report 2023

Chief Financial Officer’s Report
2023 £’000
2022 £’000
139
Garth Palmer
CHIEF FINANCIAL OFFICER
"I am pleased to report yet another strong year financially for the Group, surpassing expectations in a challenging operational and market environment. While residential construction markets showed significantly subdued volume, our profitability improved."
Garth Palmer
Chief Financial Officer
Cash and cash equivalents Revenue
Underlying EBITDA
Capital expenditure
This achievement is due to strong performance in industrial minerals and infrastructure markets, coupled with proactive management actions in the UK and Nordics to optimise operations.
For the year ending 31 December 2023, the Group generated revenue of £580.3 million (2022: £538.0 million) and underlying EBITDA of £116.7 million (2022: £101.7 million). Underlying profit before taxation for the Group was £71.2 million (2022: £62.7 million).
The statutory loss for the Company for the year ended 31 December 2023 before taxation amounts to £42.9 million (2022: loss £24.4 million), which includes £30.0 million of non-underlying expenses primarily pertaining to M&A related cash fees, non-cash share option expense and amortisation of finance costs.
The Board monitors the activities and performance of the Group on a regular basis and uses financial indicators based on budget versus actual to assess the performance of the Group. The indicators set out below will continue to be used by the Board to assess performance over the period to 31 December 2023.
68,623 537,993 101,723 52,721
55,872
580,285
116,688
43,046