In This Article:
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Revenue: Group sales increased by 3.8% to EUR2.64 billion.
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EBITDA: Reached a record EUR592 million, up by 9.6%, with an EBITDA margin expansion of 120 basis points to 22.4%.
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Net Profit: Increased by 17.3% to EUR315 million.
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Earnings Per Share (EPS): Reached EUR4.2 per share, up from EUR3.6 per share last year.
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Net Debt: Reduced by EUR38 million to EUR622 million, with a leverage ratio of 1.02 times EBITDA.
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Capital Expenditure (CapEx): EUR251 million, marking a 15-year high.
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Dividend Proposal: Special ad hoc increase by EUR2 per share, totaling EUR3 per share.
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US Market Performance: Sales increased by 3% to $1.64 billion, with EBITDA up by 15% to $368 million.
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Greece and Western Europe Sales: Increased by 9% to EUR444 million.
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Southeast Europe Sales: Increased by 2.3% to EUR432 million, with EBITDA up by 15% to EUR167.6 million.
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East Med Sales: Increased by 4.4% to EUR250 million.
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Brazil Joint Venture EBITDA: Increased by 20% to EUR29.5 million.
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Alternative Fuels Usage: Reached a record high of 21.3%.
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CO2 Emissions Reduction: Achieved an 11% reduction since 2020.
Release Date: March 27, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Titan Cement International SA (TTCIF) reported record results for 2024, with a 9.6% increase in EBITDA, despite adverse weather conditions in the last quarter.
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The company achieved margin expansion and continued to invest heavily in supply chain, capacity, and logistics optimization.
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Titan Cement International SA (TTCIF) completed four bolt-on acquisitions, adding 100 million tonnes to its reserves in aggregates.
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The company successfully listed its US subsidiary on the New York Stock Exchange, raising $393 million.
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Titan Cement International SA (TTCIF) achieved a significant reduction in CO2 emissions, with an 11% decrease since 2020, and was recognized for its climate change efforts by CDP, Financial Times, and TIME magazine.
Negative Points
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Adverse weather conditions in the US negatively impacted fourth-quarter volumes, causing a 4% drop in EBITDA.
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The company faced a goodwill impairment charge of EUR17 million in Turkey, affecting net profit.
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Currency devaluation in Egypt and Turkey negatively impacted profitability, despite increased domestic volumes.
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The construction activity in Western Europe declined, affecting export volumes to European terminals.
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The company anticipates increased volatility in the geopolitical and geoeconomic context, which could impact future performance.