In This Article:
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Revenue Growth: Increased by 4.9% year-to-date, reaching just under EUR2 billion.
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EBITDA: Grew by 14.6% year-on-year to EUR455 million on a like-for-like basis.
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Net Profit After Tax: Increased by 20% to EUR238 million.
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Earnings Per Share: Reached EUR3.19 for the nine months.
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Leverage Ratio: Closed at 1.1 times EBITDA.
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CapEx: EUR181 million deployed, focusing on energy mix improvements and logistics.
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US Sales: Grew by 4.5%, reaching $1.25 billion.
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US EBITDA: Increased by 20% to $293 million on a like-for-like basis.
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Greece Sales: Increased by 8.4% to EUR324 million.
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Southeast Europe EBITDA: Grew by 19% to EUR128 million.
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Eastern Mediterranean Sales: Reached EUR182 million, up by 4.8% year-on-year.
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Brazil EBITDA: Increased by 18% to EUR18.1 million.
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Net Debt: Closed at EUR670 million, down by EUR95 million compared to September 2023.
Release Date: November 07, 2024
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 (XBRU:TITC) reported a robust nine-month performance with a 5% growth in sales.
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EBITDA increased by 14.6%, driven by improved pricing and operational cost performance.
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The company is making significant progress in its Strategy 2026, focusing on supplementary cementitious materials and low carbon fuels technologies.
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Titan America achieved a strong performance with a 20% increase in EBITDA, despite adverse weather conditions.
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The company is on track with its US IPO plans, aiming for a market entry in the first quarter of 2025.
Negative Points
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Adverse weather conditions, including hurricanes, significantly impacted operations in the US, leading to lost sales.
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The Eastern Mediterranean region faced challenges due to macroeconomic conditions, with a 21% decline in EBITDA.
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Currency devaluations in Egypt negatively affected financial performance in the region.
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Increased capital expenditure investments have led to higher debt levels, although they are lower than the previous year.
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The company faces ongoing challenges with inflation affecting logistics, labor, and raw material costs.
Q & A Highlights
Q: Given the weather-affected quarter in the US, do you expect revenue and volume growth in 2025 to increase as projects get delayed? Also, is there potential for similar actions like Heidelberg's focus on business in the center network in Europe? A: The impact of weather was significant in Q3, but not a regular event. The outlook for 2025, especially the second half, is optimistic, with expectations of record performance in sales and profitability. Regarding operational efficiencies, Titan is focusing on cost leadership and operational efficiencies, particularly in fuel and power costs, and digital initiatives to improve performance.