Titan Group reported resilient financial performance for the first half of 2025, demonstrating sustained profitability, strong operational discipline, and strategic momentum across its key markets. Consolidated revenue amounted to €1,328.6 million, representing a marginal increase of 0.4% year-on-year. This growth was primarily driven by robust market conditions in the United States, Greece, and Egypt, supported by stable sales volumes and pricing, despite adverse weather conditions in the U.S. and Southeastern Europe.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 2.0% to €286.9 million, reflecting improved cost control and operational efficiency, with the EBITDA margin remaining at healthy levels. Net profit after tax (NPAT) totaled €68.4 million, a figure that includes a one-off loss of €51.9 million related to the divestment of the Group’s Turkish cement operations (Adocim), higher minority interest charges of €10.1 million from Titan America S.A., as well as increased depreciation and taxation.
For the second quarter of the year, sales reached €690.2 million, while EBITDA stood at €164.3 million, slightly impacted by scheduled maintenance activities at production facilities in the U.S. The sale of the Group’s stake in Adocim was completed on May 19, 2025, resulting in a non-recurring accounting loss of €51.9 million, €39 million of which stemmed from the reclassification of foreign exchange reserves.
Titan Group’s balance sheet remains solid, with net debt significantly reduced to €137 million and a conservative net leverage ratio of 0.2x. This deleveraging was supported by proceeds from the initial public offering of Titan America and the disposal of non-core assets. Reflecting its continued commitment to shareholder returns, the company distributed a dividend of €3.00 per share on July 3 and launched a new share buyback program of €10 million on July 1, following the successful completion of a prior program.
Capital expenditure for the period reached €127 million, directed toward projects that enhance energy efficiency, integrate advanced technologies, expand logistical infrastructure, and support the Group’s sustainability objectives. Within the framework of its TITAN 2026 Strategic Plan, the Group pursued key investments and partnerships in alternative cementitious materials, including fly ash processing in the UK and the development of low-carbon building products in the EU. It also completed the acquisition of two aggregates quarries in Greece and committed €25 million through its corporate venture capital arm to support innovation in the construction materials sector.
Digital transformation initiatives progressed, notably with the deployment of real-time AI optimization systems (RTOs) across six cement plants, further improving production efficiency. In parallel, the Group achieved tangible ESG milestones, with specific CO₂ emissions per ton of cementitious product reduced to 600 kg from 618 kg, and the thermal substitution rate rising to a record 22.6%.
Titan’s sustainability performance earned international recognition: it ranked 150th in TIME magazine’s list of the World’s Most Sustainable Companies—climbing 158 positions—and was named among the Financial Times’ “Europe’s Climate Leaders” for the second consecutive year.
Looking ahead, the Group maintains a cautiously optimistic outlook for the remainder of 2025. Demand and pricing remain resilient across its core markets, while ongoing investments in digitalization and decarbonization are expected to yield further efficiency gains and reinforce Titan’s long-term growth trajectory.
