In light of an ongoing voluntary tender offer process for the exchange of TITAN Cement Co. shares with shares of TITAN Cement International SA, TITAN Cement Co. has issued a statement to provide its shareholders with updated information on the Group’s performance.
The improved performance in terms of turnover, EBITDA, and net profit after taxes (NPAT) that the company saw in 3Q18 is reported to have continued in 4Q18. This improvement is compared to the same periods in 2017. For a second consecutive quarter, 4Q18 showed a strengthening of the Group’s performance. This has reversed the trend of a relatively weak 1Q18.
In line with earlier outlook statements by the group’s management, results in 2H18 were better than those recorded in 2017. Higher turnover resulted in improved operating profitability (EBITDA) and higher NPAT. In turn, this improvement led to the partial recovery of ground lost in turnover and EBITDA in 1H18, while significant growth was recorded in NPAT in both 1H18 and 2H18. Contribution to improved profitability mostly came from the USA and Southeast Europe. Both markets had growing sales revenue, while in other regions the situation has not shown any significant change.
Read the article online at: https://www.worldcement.com/the-americas/15012019/titan-cement-co-releases-performance-update/
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