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News Titan Group strengthens sales as profit drops

Titan Group strengthens sales as profit drops

Written by Global Cement staff 20 March 2020
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Greece: Titan Group’s profit dropped by 5.5% year-on-year to Euro50.9m in 2019, from Euro53.8m in 2018. The group said that it ‘demonstrated strength’ in ‘sustaining a growth performance’ despite challenges in Southeastern Europe and the Eastern Mediterranean. Sales were Euro1.61bn, up by 8.0% from Euro1.49bn in 2018, led by Titan Group’s US subsidiary Titan America’s sales growth of 10.7%, to Euro952m from Euro860m. Titan Group’s Greece and Western Europe sales grew to Euro245m, up by 3.3% from Euro237m in 2018, with sales gains from the private sector offsetting the decreased revenue from delays in public infrastructure projects. Cement exports, especially to the US, were also a major regional sales contributor, while clinker exports fell.

Group volumes of cement, including clinker and cementitious materials, were 17.0Mt, down by 7% from 18.2Mt.

Last modified on 25 March 2020
Published in Global Cement News
Tagged under
  • Greece
  • Titan Cement
  • Results
  • Sales
  • Profit
  • US
  • Titan America
  • Western Europe
  • Eastern Mediterranean
  • exports
  • Clinker
  • volumes
  • Public
  • Infrastructure
  • GCW448

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