Displaying items by tag: Greece

Georgia: Cement imports rose by 16% year-on-year to 0.78Mt in the first eleven months of 2021 from 0.68Mt in the same period in 2020. Data from the National Statistics Office of Georgia and the Trend News Agency show that the value of these imports increased to US$40.2m from US$34.6m. Azerbaijan was the leading cement exporting nation to Georgia with a 75% share followed by Turkey with most of the rest. Russia, Greece and Germany have also exported cement to Georgia so far in 2021.

Greece: Titan Cement has recorded sales of Euro1.26bn in the first nine months of 2021, up by 5% year-on-year from Euro1.2bn in the first nine months of 2020. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 4.3% to Euro220m from Euro229m, while its net profit rose by 41% to Euro81.9m from Euro58m.

During the third quarter of 2021, Titan Cement’s US low-carbon cement sales reached 50% of its total US cement sales. It also continued with hydrogen enrichment pilot studies in its cement kilns in Bulgaria and Greece.

Greece: Titan Cement has signed the Science-Based Targets Initiative (SBTi)’s Business Ambition for 1.5°C pledge. In so doing, it joins the UN’s Race to Zero campaign for collaboration towards a global zero-CO₂ future. The Group’s decarbonisation plans consist of an increased reliance on alternative fuel (AF), accelerated energy efficiency improvement efforts and a shift to low-carbon products and processes.

Titan Cement said “Through the participation in European and international consortia, as well as through collaborations in research and development projects, Titan will continue to develop low-carbon cementitious products and pilot carbon capture technologies in its plants, actively contributing to the industry’s ambition for a carbon-neutral future.”

Greece: Titan Group’s consolidated net sales in the first half of 2021 were Euro821m, up by 4% year-on-year from Euro786m, with an 11% rise in cement and clinker sales. The group’s earnings before interest, taxation, depreciation and amortisation (EBITDA) also recorded a 4% increase, to Euro143m from Euro137m. Net profit more than doubled to Euro58m from Euro22m.

Chair Dimitri Papalexopoulos said “Looking ahead we see continuing top line growth, with gains in both volumes and prices. In the short term, the spike in freight rates and energy costs is not allowing us to enjoy the kind of impact in margins which top line growth would imply.”

Greece: Titan Cement has received the validation of the Science-Based Targets Initiative (SBTi) for its CO₂ emissions reduction targets. The validation confirms that the company’s targets are in line with a well-below 2°climate change scenario.

The group aims to reduce Scope 1 emissions per tonne of cementitious product by 21% by 2030 from 2020, and to reduce Scope 2 emissions by 42% within the same parameters. Additionally, it has committed to drive down the CO₂ footprint of its operations and products with the aim of delivering 100% carbon-neutral concrete by 2050. Methods include increasing the use of alternative fuels, accelerating efficiency-improving initiatives, developing low-carbon products, and adopting innovative technologies and solutions. The company says that it will also monitor and independently verify its supply chain emissions.

It said “Through the participation in European and international consortia, as well as through collaborations in research and development, Titan Group will continue to develop low-carbon cementitious products and pilot carbon capture technologies in its plants, actively contributing to the industry’s ambition for a carbon-neutral future.”

Greece: Eurocert has awarded Platinum Zero Waste to Landfill certificates to all three of Titan Group’s cement plants in Greece. The producer said that the certification ‘reaffirms the excellent environmental performance’ of its Kamari, Patra and Thessaloniki cement plants. It says that the plants achieved the highest waste management certificate through effective waste prevention and proper management to avoid landfill.

Greece general manager Angelos Kalogerakos said “Titan is clearly committed to contributing substantively, through its operation and products, to the zero-waste goal. The Platinum Zero Waste to Landfill certification endorses and rewards the good practices that we have systematically applied for many years and that we have adopted in order to minimise our footprint and ensure a sustainable future for coming generations. We want to make all of our partners part of this commitment, aiming for a reliable and sustainable supply chain.”

Greece: Heracles Group, part of Switzerland-based LafargeHolcim, has obtained environmental product declarations (EPDs) for all cements produced at its Volos and Milaki cement plants. The company says that the declarations cover both bagged and bulk products.

Chief executive officer Dimitris Chanis said, “For 110 years, at Heracles Group we have learned to always push the limits of the seemingly possible, pioneer and constantly move forward. Driven by our unwavering priority of sustainable development and our vision regarding the green transformation of the construction sector, we strategically design and develop policies and initiatives that promote a climate neutral and circular economy. EPDs are expected to play a key part in our group's effort to move towards more sustainable construction for a greener and better world for all.”

Greece: Heracles Cement recorded sales of Euro189m in 2020, consistent with 2019 levels. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 36% year-on-year to Euro35.5m from Euro26.1m. Lower cement prices domestically partly offset an increase in cement volumes, resulting in domestic cement sales growth of 7%. Cement exports fell by 16%. Positive currency exchange effects against the US dollar constrained the export drop.

The subsidiary of Switzerland-based LafargeHolcim said that it is firmly pursuing its strategy with new investments aimed at the on-going improvement of its environmental footprint and transition to innovative and sustainable building solutions, always respecting people, society and the environment.

Greece: HeidelbergCement subsidiary Halyps Building Materials has agreed to sell its aggregates business and two ready-mix concrete plants to Heracles Group, part of Switzerland-based LafargeHolcim. Heracles Group said that the acquisition would enable it to better serve the growing Athens metropolitan area and key infrastructure projects regionally. The value of the deal is undisclosed.

LafargeHolcim’s Europe, Middle East and Africa regional head Miljan Gutovic said, “I am excited about the opportunities and growth prospects of this acquisition in the Attica region of central Greece. It will provide additional support towards our net zero ambition with our leading range of sustainable building solutions such as EcoPact green concrete.” Heracles Group launched EcoPact on the Greek market in April 2021. In the first four months of 2021, LafargeHolcim completed four other bolt-on acquisitions.

HeidelbergCement remains active in the market through its subsidiary Halyps Cement. The company operates the 0.7Mt/yr Apropyrgos cement plant in Athens. Chief executive officer Dominik von Achten said, "We are pleased that the transaction has been successfully signed.” He added that the realignment is the next step in the group’s portfolio optimisation as part of its Beyond 2020 strategy. In January 2021, its subsidiary Suez Cement departed from the Kuwait cement market with the sale of its majority stake in Hilal Cement.

Greece: Titan Cement’s consolidated earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 7% year-on-year to Euro286m from Euro267m in 2019. Sales remained level year-on-year at Euro1.61bn and net profit after taxes and minorities (NPAT) fell by 97% to Euro1.50m from Euro50.9m. The group attributed the profit slump to one-off charges, namely the full write-off of the Euro46.6m goodwill of subsidiary Titan Cement Egypt and the derecognition of Euro17.3m of accumulated deferred Egyptian tax assets. If not for these, the group says its consolidated NPAT would have increased by 28% to Euro65.4m.

Cement sales were 17.1Mt, up by 1% from 17.0Mt. The group called the impacts of the coronavirus outbreak ‘less severe than expected.’ Ready-mixed concrete sales rose by 3% to 5.4Mm³ from 5.2Mm³.

Construction activity continued under coronavirus lockdown in most of the group’s countries of operation. As a result, sales remained resilient across all markets. US sales fell by 2% to Euro938m from Euro952m due to negative currency exchange effects. Greece and Western Europe sales rose by 1% to Euro247m from Euro245m. Southeastern Europe sales rose by 3% to Euro938m from Euro952m and Eastern Mediterranean sales rose by 1% to Euro152m from Euro150m.

Group executive committee chair Dimitri Papalexopoulos said “In 2020, we delivered strong financial performance while taking care of our employees and those around us, ensuring high-quality, uninterrupted customer service and accelerating progress towards our digital and sustainability aspirations. In the face of uncertainty caused by Covid-19, we remained confident in our business model. We adapted to shifting market conditions and continued to pursue operational excellence while laying the groundwork to capture future growth.” The group anticipates a positive market trend in all regions in 2021.