Titan sales edged by 0.4 per cent to EUR1.329bn in the first half of 2025 from EUR1.323bn in the 1H24. The company attributed the increase to a strong performance in the USA, Greece and Egypt, thanks to overall sustained volumes and pricing despite headwinds due to the adverse weather in the USA and in southeast Europe.

The company also reported a two per cent uptick in EBITDA to EUR286.9m in the January-June 2025 period from EUR281.4m in the year-ago period. Margin resilience was attributed to cost performance and operational efficiencies, supported by the use of AI in cement production after finalising the roll-out of end-to-end real-time-optimisers in six group plants.

However, net profit after taxes and minorities (NPAT) decreased 54 per cent YoY to EUR68.4m from EUR148.7m. NPAT excluding the EUR51m impact of the Adocim sale in May reached EUR120.3m, down 19.1 per cent YoY. 

Titan's liquidity position remains strong with net debt at EUR137m and debt leverage ratio at 0.2x EBITDA, strengthened by proceeds of the IPO of Titan America and Adocim’s divestment.

Marcel Cobuz, chairman of the Group Executive Committee, said: “Our strong performance in the first half of 2025 underscores the effectiveness of our Strategy, which is centred on sustainable growth, digital innovation, decarbonisation and customer-centricity. Simultaneously, the completion of key strategic initiatives reflects our forward-looking mindset, as we reposition the company to create lasting value for all stakeholders in a rapidly evolving world.”

Geographical breakdown
Greece and Western Europe showed robust growth with sales up 14 per cent YoY to EUR258m and EBITDA up 20.1 per cent YoY to EUR38.7m. The eastern Mediterranean sales region saw a five per cent uptick in sales with EBITDA soaring 530.5 per cent to EUR23m. However, in the USA, sales declined 2.8 per cent YoY to EUR753.2m with EBITDA slipping 3.2 per cent YoY to EUR164m. Southeastern Europe there was a five per cent drop in sales to EUR197.2m, leading to an 18.3 per cent fall in EBITDA to EUR66.5m.

Sustainability indicators
In addition to its financial performance, Titan also reported that its specific CO2 emissions fell by 18kg from 618kg/t cementitious to 600kg/t cementitious. Its thermal substitution rate reached a new high of 22.6 per cent. 

Outlook
Thanks to robust volumes and firm pricing, the company's outlook for the rest of the year remains "cautiously optimistic".