Titan Cement release 2024 full year results

2024 Highlights:

• Group sales up by 3.8%, at €2,644m, recording the 4th consecutive year of growth, with increased volumes across all product lines and sustained pricing; EBITDA margins up 120bps (L-f-L adjusted). All regions posted top-line growth, with the US and Europe at the forefront, contributing more than 90% of Group sales.

• Record EBITDA performance of €592.1m, up by 9.6%, Like-for-Like adjusted for €12m non-recurring costs, leading to improved profitability margins, with gains from operating efficiencies and lower solid fuel costs, as well as higher use of alternative fuels. NPAT was up by 17.3% at €315.3m and EPS at €4.2/share, both Like-for-Like adjusted (including a €17m goodwill impairment charge). Return on Average Capital Employed (ROACE) grew to 17.8% (L-f-L).

• Leverage ratio at 1.02x with Net Debt dropping to €622m, following solid cash generation. In 2024, S&P upgraded Titan Group’s long-term issuer credit rating to “BB+ with stable outlook” and Titan Group launched a Sustainability-Linked Financing Framework.

• CapEx closed at a 15-year high, at €251m, channeled mainly to growth projects across the supply chain, use of alternative fuels, digitalisation and innovation. Committed to our large-scale carbon capture project IFESTOS near Athens, we signed a Front-End Engineering Design contract.

Awarded Leadership Status on climate change by CDP. Recognition by the Financial Times as one of Europe’s Climate Leaders and by TIME Magazine as one of the World’s Most Sustainable Companies.

• Developed new digital solutions and further accelerated existing ones (Real-Time Optimizers), leading to increased production and energy consumption savings. On track to digitalise 100% of our plants by 2026.

• Accelerated execution of Strategy 2026, on track to reach the targets set in advance, with bolt-on investments in the US and Greece and expansion of our sources of supplementary cementitious materials (SCMs) with JVs in India and Europe. Corporate Venture Capital Fund invested in four new materials startups.

• In February 2025, Titan completed a major strategic move with Titan America’s IPO and listing on NYSE, raising gross proceeds of $393m.

• In February 2025, Titan Group entered an agreement to divest its share (75%) in Adocim in East Türkiye.

• Following the high profitability achieved and the liquidity raised through the successful IPO placement, the Board is proposing a special ad-hoc increase of the annual dividend by €2 per share to a total of €3 per share.

• Positive outlook, thanks to our attractive US and European positions, anticipating volume growth and resilient pricing, offsetting increased production and distribution costs.

To read the full set of results, click here!

Read the article online at: https://www.worldcement.com/europe-cis/27032025/titan-cement-release-2024-full-year-results/