Cement News tagged under: Greece
Titan's Florida business advances strongly01 August 2014, Published under Cement NewsTitan's first-half turnover improved by 3.9 per cent to EUR571.2m while the EBITDA was ahead by just 0.8 per cent to EUR89m. Following a 10.3 per cent reduction in the depreciation charge, the trading profit improved by 23.5 per cent to EUR35.9m. After a net financial charge 11.9 per cent lower at EUR29.7m and other items, there was a pre-tax profit of EUR6.7m compared with a loss of EUR12.4m a year earlier. At the net attributable lever there was a EUR2.9m profit, compared with a loss of ... |
Titan recovers in southern Europe and Florida16 May 2014, Published under Cement NewsTitan's first quarter turnover improved seven per cent to EUR251.8m, under the new accounting rules that ignore the turnover of joint ventures, and the EBITDA staged a 30.9 per cent recovery to EUR30.5m. The pre-tax loss was reduced by 58.7 per cent to EUR9.7m while the net attributable loss declined by 59.4 per cent to EUR11m. Net debt at the end of March, however, was down by 9.2 per cent to EUR541m, giving a gearing level of 38.5 per cent, compared with 41.6 per cent a year... |
Greece: Titan to supply quake-hit Kefalonia07 March 2014, Published under Cement NewsTitan Cement is to provide 500t of packed cement to the earthquake-hit island of Kefalonia, catering for repair works urgently needed in buildings of public interest. The Greek cement major said it will respond to related requests addressed to it directly for the prompt restoration of the most serious construction problems presented in public or municipal buildings, churches, and infrastructure projects, aiming to relieve the inhabitants of the island who were struck by the earthquake. ... |
Titan: profits decline, other than in the USA28 February 2014, Published under Cement NewsTitan reported a four per cent improvement in turnover for last year to EUR1175.9m, having risen by 3.6 per cent in 2012. The US proved to be a particularly bright spot in 2013 for the company, while the rate of decline in its domestic market of Greece eased. Full-year EBITDA edged ahead by 0.1 per cent to EUR196.0m. Excluding exchange rate movements, turnover would have been ahead by 8.3 per cent and EBITDA by 6.4 per cent. With a 10.7 per cent reduction in the depreciation charge, th... |
Lafarge Volos sets up novel wastewater partnership, Greece11 February 2014, Published under Cement NewsLafarge's Volos cement plant in Greece has set up a novel partnership with a local drinks company, allowing it to reuse the company's wastewater in the cement producer’s industrial process. The Volos plant has connected its water network to that of the drinks company, using a nearby pipe previously used to pump water from a now disused bore hole to the plant. Today, waste water from the drinks company is piped directly to the Lafarge works, where it is used in the conditioning tower, be... |
Titan long-term ratings lifted10 December 2013, Published under Cement NewsThe long-term ratings on Greece-based cement producer Titan Cement have been lifted by ratings agency Standard & Poor's (S&P) to 'BB' from 'BB-'. At the same time, it affirmed the 'B' short-term rating on Titan Cement. S&P has removed all the abovementioned ratings from CreditWatch, where Titan was placed with positive implications on 26 November, 2013. The outlook is stable. Titan Cement's stand-alone credit profile is 'bb', based upon S&P’s assessment of the group's business risk ... |
Titan helped by stronger US performance14 November 2013, Published under Cement NewsTitan's turnover increased by 4.9 per cent to EUR888.3m in the first nine months of 2013, but the EBITDA declined by 5.5 per cent to EUR153.6m. However, the third quarter did see a 21.9 per cent improvement in the EBITDA. There was no credit from the sale of emission rights compared with a EUR24m gain at this stage last year in respect of Greece and Bulgaria. The trading profit for the nine months was 6.7 per cent lower at EUR65.2m and, after a 55.1 per cent jump in net financial charges,... |
Titan's European profitability suffers02 August 2013, Published under Cement NewsTitan's first-half turnover improved by 4.4 per cent to €571.9m but the EBITDA fell by 17.8 per cent to €92.2m as European profitability continues to suffer. The trading profit fell by 36.6 per cent to €32m, but the net financial charge, that had dropped by 54.9 per cent to €20.5m a year ago, more than doubled to €44m. As a result, there was a pre-tax loss of €12.4m compared with a profit of €29.5m and the net attributable loss amounted to €21.8m. Capital investment recovered by 5.7 p... |
Titan recovers in the USA15 May 2013, Published under Cement NewsTitan's first-quarter turnover showed a 7.8 per cent improvement to €243m while the EBITDA fell by 29.4 per cent, in line with the 29.3 per cent reduction seen this time last year, to €24.3m. The pre-tax loss rose by 33.5 per cent to €23.5m and the net attributable loss rose by 39.7 per cent to €27.1m. Net debt at the end of March, however, declined by 20.1 per cent to €630m, giving a gearing level of 41.6 per cent, compared with 48.6 per cent a year earlier. Group cement shipments ro... |
Goldman Sachs upgrades Titan, Greece05 April 2013, Published under Cement NewsGoldman Sachs has upgraded Titan Cement Co to neutral from sell, Dow Jones reports. While the investment bank remains cautious on Titan's end markets in the near term, it says consensus FY13/14 EBITDA expectations have decreased by 10 per cent year-to-date and there is no longer such a significant difference versus Goldman's estimates. Titan's turnover recovered by 3.6 per cent last year to EUR1130.7m, following the 19.2 per cent drop in the previous year. The EBITDA, however, continued ... |