Titan - July 2018

Titan's 1Q18 turnover declined by 7.9 per cent to EUR712.6m, while EBITDA came off by 14 per cent to EUR122.2m. Following a 3.3 per cent reduction in the depreciation charge, the trading profit declined by 21.2 per cent to EUR66.8m. After a net financial charge 12.3 per cent higher at EUR32m and other items, notably a positive swing in exchange rates, pretax profit did improve by 11 per cent to EUR35.2m. At the net attributable level, profit advanced from EUR13.9m to EUR24.8m. Capital investment increased from EUR62m to EUR72m. Net debt at the end of June increased by 19 per cent to EUR787m, helped by a lower tax charge. Net debt was 3.9 per cent higher at EUR751m. 

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