Titan releases its 2017 Annual report

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.

"Investments for 2017 reached EUR123m, covering a wide range of initiatives: a new quarry started operations in the US; the group re-entered the maritime transportation business; efforts to improve energy efficiency, increase alternative fuels usage and reduce our carbon footprint progressed; upgrading out IT infrastructure, embracing digital initiatives and enhancing innovation capability became areas of increased focus."

"The group's prospects for 2018 are mixed, with growth anticipated in the US, renewed headwinds in Greece, and the anticipation of a supply shock in Egypt," he added.