TITAN: Turnover at record levels in 2021 – Net profit of 89.6 million euros

The turnover of TITAN Group reached record levels in 2021, as it amounted to 1,714.6 million euros. This is an increase of 6.7%, which reflects the higher demand and improved price levels in all regions.

Earnings before interest, taxes, depreciation and amortization (EBITDA) fell 4.6% to € 272.4 million due to unprecedented cost increases in the second half of the year.

Net profit after tax and minority interests (NPAT) increased to € 89.6 million (compared to € 1.1 million after one-off charges of € 63.9 million in 2020 and € 50.9 million in 2019) , mainly due to the successful refinancing of borrowing and the more favorable exchange rate fluctuations.

The Group focused on creating value for shareholders through the cancellation of treasury shares, the purchase of treasury shares as well as the return of capital of 0.50 euros per share.

Also in the production of cement, it applied digital technology and artificial intelligence systems, while it achieved a reduction of carbon footprint by 4% (special emissions Scope 1 & 2) contributing to the achievement of the Group’s goals by 2030. Finally it applied TCFD and received CDDP recognition one of the leading companies in tackling climate change (A-).