TITAN Group sales rose 7.6% in the first half of 2024 and amounted to 1.323 billion euros, with all geographical areas contributing to the increase in turnover and sales volumes, resulting in another dynamic performance.
Cement prices remained at good levels and regional variations were small, while there were selective price increases in aggregates and ready-mixed concrete. Operational efficiency through higher productivity, improved energy efficiency and enhanced digital processes in production further contributed to the Group’s profitability.
EBITDA profits stood at 281.4 million euros, up 16.7% compared to the first half of 2023, despite continued pressure from cost factors – such as labor costs, transport costs and raw material prices – in all the regions in which we operate and despite the particularly high levels of electricity prices in Greece.
The profit margin for the last 12 months (July 2023-June 2024) increased by 22%, thanks also to the improved profitability of ready-mixed concrete and aggregates.
The main markets of the Group continued their steady upward trend, while the US market recorded better performance, despite adverse weather conditions and the prolonged maintenance of high interest rates. Greece benefited from growing domestic demand and sales strengthened across all the Group’s product categories, while South East Europe continued to move upwards, thanks to high demand for cement in almost all countries.
Demand in the Turkish market showed a strong increase, while in Egypt it remained stable.
