Titan announces Full Year 2024 Preliminary Results

Press Release 10:02 - 28 January 2025

Companies Reporter

Titan Cement International SA (TCI, Euronext Brussels, ATHEX and Euronext Paris, TITC) has provided a trading update ahead of the Group’s Full Year results on 27 March, 2025.

This update is issued to enhance transparency for the Group's financial performance for Full Year 2024 and in light of the launch of the roadshow for the public offering (IPO) of Titan America SA., parent of TCI’s US operations, an announcement from the company said.

Based on current unaudited consolidated financials, the Group will report another year of record sales and profitability. The strong results in 2024 were supported by higher volumes across all main products, firm pricing, further operating efficiencies, increased use of alternative fuels and softer solid fuels costs. Sales for the Full Year 2024 are expected to exceed €2,640 million, EBITDA to rise above €585 million [like-for-like*] and reported EBITDA above €570 million, compared to €540 million in 2023. Net Profit is expected in the region of €300 million [like-for-like] and reported NPAT in the region of €285 million. Earnings per share (EPS) are subsequently expected to grow above €3.8/share. The Group’s net debt at the end of 2024 is expected to close below €630 million, compared to €660 million in December 2023 and the Net Debt to EBITDA leverage ratio is expected to drop to ca. 1.1x.

Titan Cement Group will report its audited financial figures for the Full Year 2024 on March 27th, 2025, and a conference call is planned for the same day.

* Like-for-like: adjusted for ca. €18m of non-recurring pre-tax one-off costs, related to the preparation of the US IPO and an early retirement program in Greece.

Titan announces Full Year 2024 Preliminary Results

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