Breedon Group Q1 Revenue Boosted by US Acquisitions

BREEDON GROUP plc, the UK parent company of Welsh Slate, saw revenue increase by 9% in Q1 2025, boosted by contributions from its BMC and Lionmark acquisitions.

In Great Britain, enquiry levels are said to have remained elevated and volumes across all key product groups were slightly ahead of Q1 2024. Ireland also had a busy tendering season, although the company reported delays in certain key infrastructure projects, with volumes in the quarter modestly behind the year prior.

Challenging weather conditions impacted USA volumes in Q1, most notably caused by an extended period of below freezing temperatures. Despite this, the Group says it exited the quarter with “healthy backlogs” having secured “encouraging pricing” for the construction season.

Q1 Revenue Boosted by US Acquisitions

The Group also reported its $238 million acquisition of Lionmark is now complete and its integration is “proceeding according to plan”. Lionmark is a construction materials and surfacing solutions business with a focus on road infrastructure end markets, headquartered in Missouri, USA. Its acquisition will diversify Breedon’s US product offering into asphalt and surfacing. It marks the company’s fourth US acquisition, following on from the takeover of BMC Enterprises Inc. for $300m in March 2024.

Breedon Group also reports making further advances in the use of alternative fuels and says it continued to advance the provision of lower clinker content products.

Its ARM project at Hope and the bagging plant and solar farm at Kinnegad are also nearing completion and are expected to be commissioned during Q2 2025.

Rob Wood, Breedon CEO, commented: “In the first quarter we have grown our revenues and delivered on our strategic objectives against an increasingly uncertain economic backdrop. Although weather conditions were again challenging, underlying levels of demand remained supportive. We welcomed our new Lionmark colleagues to the Group and the acquisition has increased our vertical integration and diversified our US exposure towards infrastructure and growing state road maintenance budgets.

“The very nature of our business, supplying local products to local businesses, provides some insulation in the current economic climate. While the Board’s expectations for 2025 remain unchanged we have enhanced our focus on self-help, driving operational and commercial excellence, further unlocking efficiencies and optimising capacity. While visibility is reduced, we remain optimally positioned to benefit when construction market activity improves.”

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