Titan Cement International SA provided a Trading Update, ahead of the Group’s Full Year results on March 13th, 2024, as the preliminary unaudited results for Full Year 2023 performance exceed analysts’ and press reports’ expectations.
Based on current unaudited consolidated financials, the Group will be reporting record profitability:
on the back of strong demand in 2023 for all our core products, firm pricing, operational efficiency gains -as a result of our capital investments- and performance of energy costs, sales for the Full Year 2023 are expected to exceed €2,540 million, EBITDA to rise above €535 million (compared to €331 million in 2022) and Net Profit to more than double year on year, exceeding €265 million.
Earnings per share (EPS) are subsequently expected to grow above €3.4/share.
The Group’s net debt at the end of 2023 closed at €660 million, compared to €797 million in December 2022 and the Net Debt to EBITDA leverage ratio is expected to drop to ca. 1.2x. Titan Cement Group will report its audited financial figures for the Full Year 2023 on March 13th, 2024, and a conference call is planned for the same day, followed by a Q&A session
