Greece: Titan Cement has announced its financial results for the first nine months of 2024. The group’s sales increased by 5% year-on-year to €1.99bn. Earnings before interest, taxation, depreciation and amortisation (EBITDA) for the period reached €455m, marking a 15% year-on-year increase. Net profit after tax also rose by 20% during the period to €238m.
In terms of regional performance, the US business saw an increase of 4.2% year-on-year to €1.15bn and EBITDA growth of 20%. Greece and Western Europe experienced an 8.4% increase in sales to €324m, though EBITDA declined by 4.5% year-on-year. Southeast Europe saw an increase in sales of 4% to €327m with EBITDA rising by 19% during the period. Meanwhile, in the Eastern Mediterranean region, sales improved by 5% to €183m, despite a 21% reduction in EBITDA. Titan Cement said that it maintains a positive outlook for the remainder of 2024, driven by solid pricing and overall healthy volumes.
