Titan Cement International provides a Trading Update
Published by Evie Gardner,
Editorial Assistant
World Cement,
Titan Cement International SA (Euronext Brussels, ATHEX and Euronext Paris, TITC) provides a Trading Update, ahead of the Group’s Full Year results on 13 March 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 the company's capital investments – and performance of energy costs, sales for the Full Year 2023 are expected to exceed €2540 million, EBITDA to rise above €535 million (compared to €331 million in 2022) and Net Profit to more than double y/y, 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 13 March 2024, and a conference call is planned for the same day, followed by a Q&A session.
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Read the article online at: https://www.worldcement.com/europe-cis/20022024/titan-cement-international-provides-a-trading-update/
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