Titan Cement Group has published its 2021 integrated annual report, which outlines the group's financial, as well as environmental, social and governance (ESG) performance. Titan generated record revenues in 2021 and is well on track to achieve its ESG targets for 2025 and beyond, claims the company.
Titan 2021 integrated annual report highlights
• record group revenue of EUR1714.6m, up 6.7 per cent, reflecting higher demand and supportive pricing across all regions
• increase of net profit after tax to EUR91.9m (versus EUR1.1m in 2020 after EUR63.9m one-off charges and versus EUR50.9m in 2019) supported by lower finance costs and foreign exchange result
• focus on shareholder value through share buy-backs, cancellation of treasury shares and capital return of EUR0.50 per share
• carbon footprint reduction by four per cent (Scope 1 & 2) on course to achieve the group’s 2030 targets
• Titan among the first cement companies worldwide with CO2 reduction targets validated by the Science Based Targets initiative (SBTi)
• recognition by CDP as a Global Climate Leader (A-) for the transparency and actions to mitigate climate change.
• digitalisation of cement manufacturing through AI and Machine Learning
• development of a Sustainable Supply Chain Roadmap to ensure that key suppliers meet the group’s ESG standards
• 142 initiatives in local communities benefiting more than 0.4m people.
