Cement News tagged under: Titan
1H20 results show regional impact of coronavirus on cement demand31 July 2020, Published under Cement NewsThis week, the cement industry majors have been announcing their business results for the first half of 2020. The business results of Dangote Cement, Cemex, UltraTech, HeidelbergCement, Titan and Vicat give the first clear indications of how the cement sector has been impacted and responded to the COVID-19 pandemic in various regions of the world. Africa Dangote Cement was first to announce its 1H20 results and announced a two per cent growth in revenue to NGN476.9bn (US$1.23bn). April... |
Titan Global Finance Plc makes EUR250m notes offering03 July 2020, Published under Cement NewsTitan Global Finance Plc, subsidiary of Titan Cement International SA, has made a EUR250m notes offering that will mature in 2027, with a 2.75 per cent coupon per annum. The orders in the book were above two times the nominal amount of the issue and the application will be made to the Irish Stock Exchange plc, trading a Euronext Dublin. The closing date is set for 9 July 2020. The proceeds of the notes will be used by the issuer to purchase some or all of the EUR300m with a coupon of 3.5 pe... |
Titan issues notes for general purposes, including bank debt repayment30 June 2020, Published under Cement NewsTitan 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 EBITDA26 June 2020, Published under Cement NewsTitan 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 report15 April 2020, Published under Cement NewsTitan 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 201920 March 2020, Published under Cement NewsGreece-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 Competence30 January 2020, Published under Cement NewsTitan 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 units22 November 2019, Published under Cement NewsGreece-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 NewsThis 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 loss23 May 2019, Published under Cement NewsGreece-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... |