Cement News tagged under: Titan Cement
Titan looks to boost energy supplies in Egypt23 October 2013, Published under Cement NewsTitan Cement Company has begun discussions with Egypt’s Ministries of Petroleum to boost its energy supplies. In an interview with Egypt Daily News, Titan Cement Company executive VP, Medhat Stephanos, said some Egyptian cement factories have had to scale back production and distribution by an average of 24 per cent due to low and intermittent supplies of natural gas. However, the company has opened dialogue with the Ministries of Petroleum to explore new options: “We have already su... |
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... |
Titan's profits decline, except in the USA05 March 2013, Published under Cement NewsTitan Cement of Greece reported a 3.6 per cent recovery in turnover for 2012 to €1130.7m, following the 19.2 per cent drop in the previous year. EBITDA, however, continued its double-digit decline and fell by 19.8 per cent to €195.8m. While consumption in its home market of Greece has fallen to less than a quarter of the 2006 peak level, Titan has witnessed a reversal in fortunes in its US operations. In spite of a swing from a €11.9m loss on foreign exchange to a €1.5m profit, there was ... |
Titan raises EUR200m in bond issue04 January 2013, Published under Cement NewsGreece-based cement producer Titan Cement Co on Thursday successfully concluded a EUR200m bond issue. The new four-year corporate bond (arranged by Eurobank Ergasias SA, Alpha Bank AS and Credit Suisse) matures in January 2017 and has an 8.75 per cent coupon. Part of the proceeds will be used to repay a previous bond maturing later this year, Eurobank said in a statement, adding that the issue was 2.9 times oversubscribed, with considerable interest from large private banking clients a... |
Titan successfully concludes issuance of new EUR200m notes19 December 2012, Published under Cement NewsGreece-based cement producer Titan has successfully concluded the issuance of new €200m guaranteed notes, due in January 2017. Demand from international and domestic institutional and private investors ensured that the €100m minimum issue, as executed through the exchange of existing and issuance of new notes via the Luxembourg Stock Exchange, was oversubscribed 2.9 times. The new notes bear a coupon of 8.75 per cent, the minimum rate set in the offering. The successful conclusion of th... |
The US recovery is the one bright spot for Titan30 August 2012, Published under Cement NewsTitan’s first half turnover declined by 1.6 per cent to €547.9m and the EBITDA fell by 21.3 per cent to €112.1m, as the cement producer is caught amid a continued downturn it its domestic market of Greece and US operations prove to be its only bright spot. Titan’s trading profit fell 39.5 per cent to €50.5m, but the net financial charge dropped by 54.9 per cent to €20.5m, reducing the fall in the pre-tax profit to 21.8 per cent to €29.5m. The net attributable profit emerged 65.3 per cent l... |
IFC invests in Titan's operations in Western Balkans27 June 2012, Published under Cement NewsTitan Cement announced the completion of a EUR50m equity investment by the International Finance Corporation (IFC) in Titan’s subsidiaries in the Western Balkans region including Macedonia, Serbia and Kosovo. The transaction results in IFC holding, through Titan Cement Cyprus, a minority stake of approximately 11.5 per cent in Titan’s operations in the aforementioned countries. The Greece-based cement producer said in a statement: “The collaboration in the region with an institution su... |