Brief: Titan Cement FY Group Sales Up At EUR 2.28 Bln

Titan SA

22/03/2023 08:20

March 22 (Reuters) - Titan Cement International SA
 TITC.BR :
    * FY EBITDA ROSE TO EUR 331.2M WITH ALL REGIONS POSTING
DOUBLE-DIGIT PROFITABILITY INCREASE
    * FY NET DEBT CLOSED AT EUR 797.3M (+€84M)
    * FY SECOND CONSECUTIVE YEAR OF RECORD GROUP SALES OF EUR
2,282.2M, UP 33.1%, FOLLOWING A VERY STRONG Q4. US AND GREECE
REPRESENT OVER 70% OF GROUP SALES
    * BOARD PROPOSES A DIVIDEND PAYMENT OF EUR 0.60 PER SHARE
    * LARGE  GROWTH AND LOGISTICS INVESTMENTS TO BE FINALIZED IN
2023
    * FY EARNINGS PER SHARE INCREASED BY 24.4%. NPAT REACHED EUR
109.7M (+19.3%)
    * FY GROUP CAPITAL EXPENDITURES DURING THE YEAR REACHED A
15-YEAR
HIGH AT EUR 241.9M COMPARED TO EUR 126.0M IN 2021
    * OUTLOOK: REMAINS POSITIVE GIVEN EXPOSURE TO RESILIENT
MARKETS IN
AMERICA AS WELLAS IN EUROPE
    * OUTLOOK REMAINS UNCLEAR AND IS HIGHLY DEPENDENT ON
VARIABLES
SUCH AS ENERGY COSTS, THE  EVOLUTION OF INFLATION, AND MONETARY
DECISIONS
    * UNPRECEDENTED LEVELS OF GOVERNMENT SUPPORT AND
INITIATIVES, ON
BOTH  SIDES OF THE ATLANTIC, GENERATE INVESTMENT AND DEMAND FOR
OUR PRODUCTS, GIVING CAUSE FOR CAUTIOUS OPTIMISM.
    * THE REGION OF SOUTHEASTERN EUROPE, CONSISTENT WITH ITS
TRACK
RECORD, IS EXPECTED TO HOLD UP TO THE LEVELS RECORDED  IN 2022
    * OUTLOOK: GROUP AIMS TO IMPROVE ITS COST COMPETITIVENESS
EMBARKING ON AMBITIOUS ALTERNATIVE FUEL INVESTMENT
    * IN TURKEY, THE RECENT EARTHQUAKE RAVAGING THE SOUTH OF THE
COUNTRY WILL AFFECT CEMENT CONSUMPTION FOR THE YEARS TO COME, AS
DEMAND  AT NATIONAL LEVEL WILL SHOOT UP
    * OUTLOOK: UTILIZATION OF EXPORT TERMINAL IN SAMSUN (TURKEY)
WILL
PROVIDE ADDITIONAL SALES OPPORTUNITY FOR TITAN
    * OUTLOOK: GROUP AIMS TO IMPROVE ITS COST COMPETITIVENESS BY
EMBARKING ON ALTERNATIVE FUEL INVESTMENT PROGRAMME IN TURKEY

Source text for Eikon:  ID:nNDL3H2mwk 
Further company coverage:  TITC.BR 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;;))