Brief: Titan Cement International Q1 EBITDA Down At 40.6 Millions Euros

Titan SA

13/05/2020 18:15

May 13 (Reuters) - Titan Cement International SA  TITC.BR :
    * LOW VISIBILITY AND HIGH UNCERTAINTY OVER THE NEXT FEW
MONTHS
    * WE ESTIMATE THAT CEMENT MARKETS HAVE DECLINED OVER PAST
SIX
WEEKS BY SOME 10% IN FLORIDA AND MID-ATLANTIC, AS WELL AS TURKEY
    * ON CORONAVIRUS: WE EXPECT DEMAND FOR OUR PRODUCTS TO BE
HIT
    * GROUP CONSOLIDATED REVENUE INCREASED BY 6.1% IN Q1 2020
REACHING
€384.8M
    * Q1 EBITDA DECLINED BY €3.7M, REACHING €40.6M
    * EXPECTS DECLINE TO ABOUT 30%-40% IN MORE SEVERELY AFFECTED
MARKETS LIKE SOUTHEAST EUROPE AND NEW YORK
    * PRELIM APRIL YTD FINANCIALS SHOW THAT TOTAL REVENUE COMES
FLAT
COMPARED TO 2019 AT €508 MILLION
    * PRELIM APRIL YTD EBITDA REACHED €67.2M, UP BY €5.7M OR
9.3%
    * SINCE MID-MARCH 2020 OUTBREAK OF CORONAVIRUS HAD A
SIGNIFICANT,
ALTHOUGH UNEVENLY DISTRIBUTED IMPACT ON DEMAND FOR OUR PRODUCTS

Source text for Eikon:  ID:nNDL8CKBNW 
Further company coverage:  TITC.BR 

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