Brief: Titan FY EBITDA Grows To EUR 540.3 Million

ER Capital Nv

13/03/2024 08:09

March 13 (Reuters) - Titan NV  TITANT.AS :
    * FY SALES EUR 2.55 BILLION, UP +11.6% VERSUS EUR 2.28
BILLION YOY
    * RECORD PROFITABILITY LED BY STRONG SALES GROWTH. POSITIVE
OUTLOOK
    * RECORD EBITDA 2023 PERFORMANCE OF €540.3M, UP BY 63.1%,
ACHIEVING MARGIN EXPANSION
    * PROPOSED DIVIDEND PAYMENT OF €0.85 PER SHARE FOR 2023,
INCREASED
BY 42% VERSUS 2022
    * FY LEVERAGE RATIO AT 1.2X, WITH NET DEBT DROPPING BY
€137M, TO
€660M
    * OUTLOOK POSITIVE, THANKS TO IMPROVED VOLUMES AND PRICING
OF OUR
ATTRACTIVE MARKETS IN THE US AND EUROPE
    * OUTLOOK: COMPLETION OF GROWTH-ORIENTED PROJECTS WILL
RESULT IN
FURTHER MARGIN PERFORMANCE
    * NPAT MORE THAN DOUBLED, REACHING €268.7M (+145%), WHILE
EARNINGS
PER SHARE ARE AT €3.6/SHARE

Source text: https://tinyurl.com/4ranwhf4
Further company coverage:  TITANT.AS 

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