Sibelco today announced strong
, despite depressed conditions across many of the company’s European markets, coupled with significant challenges for its US high purity quartz business resulting from a strong downturn in the photovoltaic energy market that started in mid-2024 and the impact of Hurricane Helene in Q4.
Highlights
- Revenue up 5.7% against the previous year to € 2,225 million;
- 13.8% increase in EBITDA to € 471 million. EBITDA has grown at a CAGR of over 23% from 2020 to 2024;
- In February Sibelco bought back 89,989 of the 102,809 shares tendered in a conditional voluntary public offer. The buyback represents 18.93% of the outstanding shares in Sibelco;
- The company continued to make good progress towards its carbon reduction targets, cutting Scope 1 and 2 CO2 emissions intensity for a third consecutive year with a -21% reduction against our 2021 baseline;
- In June, Sibelco took a global leadership position in glass recycling with the acquisition of North America’s largest glass recycler - Strategic Materials Inc. (SMI); and
- The Board of Directors will propose a dividend of € 146 per share for the full year of 2024, for approval by shareholders at the Annual Shareholders’ Meeting in April 2025
“Sibelco delivered a very strong performance in 2024 with a fourth consecutive year of solid revenue and EBITDA growth despite the challenging business environment. This result demonstrates Sibelco’s growing strength and agility as we move into the final stage of our Sibelco 2025 strategy and prepare for the next exciting phase of our vision to become the world’s leading industrial minerals company. We faced stiff challenges throughout the year, mainly in the form of depressed conditions across many of our European markets, and the impact on our US high purity quartz operation resulting from a downturn in the PV solar market and disruption caused by Hurricane Helene. Our acquisition of Strategic Materials Inc. positions Sibelco as a global leader in glass recycling and demonstrates our commitment to the circular economy as a key pillar of our Environmental, Social and Governance framework.”
Hilmar Rode
CEO
