Greece: Titan Cement Group’s sales rose by 33% year-on-year to Euro2.28bn in 2022, while its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 20% to Euro331m. The producer sold 17.2Mt of cement, up by 2% year-on-year from 16.8Mt. Its USA sales rose by 34% to Euro1.31bn, its Southeastern Europe sales rose by 33% to Euro386m, its Greece and Western Europe sales rose by 22% to Euro326m, its Eastern Mediterranean sales rose by 48% to Euro256m and its Brazil-based joint venture Apodi’s sales rose by 38% to Euro115.9m. During the year, the group commenced exports of Type IL Portland limestone cement (PLC) from its Samsun, Türkiye, cement terminal to the US.
Group chair Marcel Cobuz said “The great performance results highlight the group's ability to adapt to market conditions and to activate effective growth strategies, driving positive financial performance mainly in US and Europe, where we serve the majority of our customers and have close to 90% of our sales. They also underscore the group’s resilience, adaptability and commitment of all our great teams to transform the group commercially and technologically while digitising our customer journey and decarbonising aggressively, delivering long-term value to all our stakeholders.”
