Cement News tagged under: Titan Cement Co

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Titan Cement denies headquarter move

12 March 2013, Published under Cement News

Titan Cement has denied reports in the press that it is moving its headquarters from Greece. In response to reports on online and printed media the country's second-largest cement producer said in statement released yesterday that: "it is not within its intentions to move its headquarters from Greece.” Last week, Titan reported that demand for building materials in its troubled domestic market declined by about 35 per cent YoY in 2012. “The severe recession of the Greek economy has direct...

Titan suffers from Mediterranean markets

14 November 2012, Published under Cement News

Titan's turnover for the first nine months of 2012 edged ahead by 1% to €847m, but the EBITDA fell by 26.6% to €162.5m. The EBITDA fell by €36.6m in the Eastern Mediterranean, by €19.1m in South Eastern Europe and by €9.5m in Greece, but recovered by €6.6m in the USA. As a result, the group pre-tax profit fell by 65.7% to €26.1m. The net attributable profit dropped by 96.3% from €52.9m to just €2, after a €6.4m loss in the third quarter. Net debt at the end of September was 13.2% lower than ...

Titan records a turnover of €847m for 9M12

13 November 2012, Published under Cement News

Titan Group's turnover for the first nine months of 2012 stood at €847m, posting a 1% increase compared to the same period in 2011. Earnings before EBITDA declined by 27%, reaching €162.5m. Net income after minority interests and the provision for taxes stood at €2m, compared to €54m in the same period in 2011. Group turnover grew for the second consecutive quarter. Growth was supported by indications of recovery in construction activity in the USA, sustained momentum in the markets of the...

Titan Cement 1Q12 loss widens as construction slows

04 May 2012, Published under Cement News

Titan Cement Co SA, Greece’s biggest producer of the building materials, posted a wider 1Q12 loss as the country’s construction industry slowed and bad weather conditions hit the Balkans, Turkey and Greece. The net loss was €19.4m (US$25.5m) in the three months through 31March compared with a €4.3m loss in the same period a year earlier, according to a statement from the Athens-based company today. “The severe and extended winter period this year across the Balkans, Turkey and Greece ...

Standard & Poor's revises Titan's outlook

27 April 2012, Published under Cement News

Standard & Poor's (S&P) Ratings Services revised its outlook on Titan Cement Co to stable from negative. At the same time, we affirmed our 'BB-' long-term and 'B' short-term corporate credit ratings on the group. S&P said the outlook revision reflects its view that "Titan will be able to sustain solid cash flows and an 'adequate' liquidity profile over the next 24 months. ??Titan was able to maintain solid cash flows despite disruption in its key markets in the year ended 31 December 2011. ...