Titan Cement International SA provided a trading update, based on the current unaudited consolidated financial results, ahead of the group’s full-year results on 27 March 2025.
The strong results in 2024 were supported by higher volumes across all main products, firm pricing, further operating efficiencies, increased use of alternative fuels and softer solid fuels costs, said the company. Sales for the full-year 2024 are expected to exceed EUR2640m.
Compared to EUR540m in 2023, EBITDA are forecast to rise above EUR570m as reported and to above EUR585m on a like-for-like basis (adjusted for ~EUR18m of non-recurring pre-tax one-off costs related to the preparation of the US IPO and early retirement programme in Greece).
Net profit is expected to come in at around EUR300m like-for-like and reported NPAT in the region of EUR285m.
Earnings per share (EPS) are subsequently expected to surpass EUR3.80/share.
The group’s net debt at the end of 2024 is expected to close below EUR630m, compared to EUR660m in December 2023. The net debt-to-EBITDA leverage ratio is expected to drop to ~1.1 times.
