Cement News tagged under: Greece

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Titan Egypt's profits decline, but Greece and the USA recover

06 March 2015, Published under Cement News

Titan's turnover improved by 2.7 per cent in 2014 to EUR1158.4m but the EBITDA emerged 2.6 per cent lower at EUR181.6m. Following an 8.5 per cent reduction in the depreciation charge, the trading profit advanced by 7.0 per cent to EUR76.6m. The net financial charge increased by 6.2 per cent to EUR65.7m and there was a EUR31.1m foreign exchange gain compared with a loss of EUR18.4m in the previous year. There was a pre-tax profit of EUR46.8m compared with a EUR9.4m loss the year before. At...

Titan suffers in Egypt, but improves elsewhere

14 November 2014, Published under Cement News

Titan’s turnover improved by 3.3 per cent to EUR879.7m in the first nine months of 2013, but EBITDA edged ahead by just 0.1 per cent to EUR146.7m. In the third quarter the EBITDA did decline by one per cent. The trading profit for the nine months was 0.7 per cent lower at EUR57.9m and, after a 6.9 per cent reduction in net financial charges and a positive contribution from associates of EUR3.6m, there was a pre-tax profit of EUR47.4m profit compared with a EUR1.1m loss. There was a net at...


03 September 2014, Published under Cement News

Lafarge's 89 per cent-owned subsidiary Heracles General Cement Company has announced a 9.3 per cent increase in turnover to EUR123.4m for the first six months of 2014 and EBITDA loss was reduced from EUR118.5m to EUR4.1m. The net loss after tax declined from EUR108.8m to EUR17.5m. Heracles' cement volumes increased by 11.7 per cent during the period as domestic deliveries showed a strong recovery from very low levels.

Heracles profit lifted by exports, demand pick up

01 September 2014, Published under Cement News

Greece-based Heracles General Cement Co reported a 9.3 per cent YoY increase in sales for the first half of 2014 to EUR123.4m. At the parent company level, sales reached EUR110.4m, up by eight per cent.  In an announcement, Greece's largest cement producer said the stronger sales performance was boosted by "increased export activity and stronger domestic demand from low levels.” It added that:  "After five years of continuing recession in the domestic market, sales were positively affecte...

Titan's Florida business advances strongly

01 August 2014, Published under Cement News

Titan'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 Florida

16 May 2014, Published under Cement News

Titan'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 Kefalonia

07 March 2014, Published under Cement News

Titan 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 USA

28 February 2014, Published under Cement News

Titan 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, Greece

11 February 2014, Published under Cement News

Lafarge'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 lifted

10 December 2013, Published under Cement News

The 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 ...