An increase was recorded in all markets in which the TITAN Group operates in the first nine months of 2021 sales, resulting in an increase in the Group’s turnover.
The Group’s turnover increased by 5.0% to € 1,268.8 million or by 10.1% in local currencies.
Operating profit (EBITDA) fell by 4.3% to € 219.6 million due to the large international increase in cost data in the third quarter, which has recently shown a downward trend
Net profit increased by € 23.9 million or 41.4% and amounted to € 81.9 million, benefiting from a significant reduction in financial expenses. Commitment of the Group for the “Business Ambition for 1.5 ° C” of SBTi and participation in the global campaign “Race to Zero” of the UNFCCC. Titan America’s reduced CO2 emissions of cement now account for 50% of total production.
According to the company, the performance was enhanced by the continued robustness of the American market, the encouraging recovery and growth of the construction activity in Greece and the dynamic performance of the markets of Southeastern Europe.
In Egypt, progressive performance improvements continued as a result of government measures to streamline production in the market. In Turkey, the climate was aggravated by the macroeconomic challenges facing the country, while in Brazil the upward trend was maintained.
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