Cement News tagged under: Titan

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Titan issues notes for general purposes, including bank debt repayment

30 June 2020, Published under Cement News

Titan Global Finance plc, a subsidiary of Titan Cement International SA, is inviting holders of its 3.500 per cent guaranteed notes due June 2021, originally issued in an aggregate principal amount of EUR300m and of which EUR287m remains outstanding, to tender any or all of their notes for purchase by the offeror of cash. The offeror will pay a cash purchase price equal to EUR1016 per EUR1000 in principal amount of the notes validly tendered and accepted for purchase, plus any accrued and un...

Titan posts rise in 5M EBITDA

26 June 2020, Published under Cement News

Titan Group reported a drop in consolidated revenue by 2.1 per cent to EUR641.8m in the January-May 2020 period, following a 6.1 per cent growth in the 1Q20 and a subsequent slowdown in April and May during the peak of the coronavirus pandemic. However, EBITDA rose by 5.5 per cent to EUR97.3m thanks to a reduction in costs, mainly due to lower fuel costs. Titan's net profit after taxes and minorities was down 9.1 per cent YoY to EUR3.5m. With construction considered an essential activity ...

Titan publishes its 2019 annual report

15 April 2020, Published under Cement News

Titan has published its 2019 annual report outlining the group's financial, environmental and social performance. While Titan delivered another solid financial performance and made good progress on its 2020 environmental and social targets, responding to climate change and the digital revolution, the coronavirus broke out during the writing of the report. TITAN has mobilised to take measures to protect its staff. An assessment of the impact of COVID-19 is included in the report. Dimi...

Titan records 8% advance in revenue for 2019

20 March 2020, Published under Cement News

Greece-based Titan Cement has seen its group consolidated revenue advance eight per cent to EUR1.609bn in 2019, compared with EUR1.49bn in the previous year. EBITDA also increased 2.8 per cent YoY to EUR267.1m from EUR259.7m. "We are well placed to simultaneously navigate the market cycles of our business and participate in the major transformational changes that will affect our sector and beyond, focusing on operational excellence and profitability, as well as on adaptability, agility and...

Τitan launches its Group Digital Centre of Competence

30 January 2020, Published under Cement News

Titan Cement Group has launched its Group Digital Center of Competence, to improve its operational efficiency and competitiveness, and to develop new ways of connecting with its customers. The Group Digital Center of Competence is part of the group's Digital Initiative, launched in May 2017. During the last three years, Titan has introduced multiple digital and advanced analytics pilots and solutions focussing on real-time production optimisation, asset failure prediction with machine lear...

Titan buys back IFC minority stake in SE Europe/Egypt units

22 November 2019, Published under Cement News

Greece-based Titan said that its board of directors has approved the acquisition of the minority stakes held by the International Finance Corp in its units in Egypt and four countries of southeastern Europe for EUR81.8m. “This transaction will conclude Titan’s successful cooperation with IFC gradually established since 2008 in Albania, Egypt, Serbia, North Macedonia, and Kosovo,” the group said. The agreement is subject to fulfilment of conditions precedent, Titan said, adding that its p...

Can Titan expect a better 2019?

24 May 2019, Published under Cement News

This week Titan Group announced its first-quarter 2019 results which saw a 12.5 per cent rise in turnover but also a EUR6.2m loss appearing on the company’s profit and loss account. While the US market and southeastern Europe returned healthy business results, the company’s performance was more muted in its other markets, particularly in Egypt and Turkey. However, going forward Titan sees the overall group outlook for 2019 as more favourable. The USA is Titan’s most important market, ge...

Titan reports 13% advance in 1Q turnover but EUR6.2m net loss

23 May 2019, Published under Cement News

Greece-based Titan Group reported a 12.5 per cent rise YoY in consolidated turnover to EUR362.7m in the first quarter of 2019 ended 31 March 2019. The company attributed the higher sales to a robust US market and growth in southeastern Europe. EBITDA was up two per cent to EUR44m as the company faced a challenging business environment in Egypt and Turkey. Titan's net result was impacted by higher depreciation charges and unfavourable foreign exchange rates, recording a EUR6m loss (1Q18: E...

Titan releases its 2017 Annual report

14 June 2018, Published under Cement News

Titan Group has released its 2017 Annual Report online . The report highlights the financial performance of the group that had a turnover of EUR1505.8m, EBITDA of EUR273.4m, profit after taxed of EUR42.7m and capital expenditure of EUR122.6m. "This stable performance reflects our ability to capitalise on the opportunities offered by the continuing growth in the US market and to minimise the impact of adverse developments in Egypt and Greece," said Titan Group CEO, Dimitri Papalexopoulos. ...

Cementarnica Usje net profit falls 9% in 2017

13 March 2018, Published under Cement News

Macedonia’s Cementarnica Usje reported a nine per cent YoY fall in its non-consolidated net profit to MKD1.09bn (US$61.8m) in 2017. The Titan-owned company’s operating profit decreased 10 per cent to MKD1.18 as operating expenses rose six per cent to MKD3.33bn, the cement producer said in a bourse filing. Operating revenues increased by three per cent to MKD4.58bn, driven by a 42 per cent YoY rise in export revenues to MKD1.56bn, which were able to set off a nine per cent contraction ...