Titan Group registered new records in 2024, surpassing the results of 2023 and showing an increase in both sales and profits.
According to the financial results announced by the company, the group’s sales totaled 2.644 billion euros in 2024, recording an increase of 3.8% compared to the previous year, thanks to increases in all geographical areas, while for another year the US and Europe recorded the highest increase.
EBITDA profits (on a comparable basis) also rose by 9.6% and amounted to 592.1 million euros.The group’s net profit, after taxes and minority interests (on a comparable basis), adjusted by 17 million euros due to goodwill impairment in Turkey, increased by 17% and amounted to 315.3 million euros, resulting in a corresponding increase in earnings per share (EPS/on a comparable basis) to 4.2 euros/share, compared to 3.6 euros/share in 2023. Accordingly, the return on average capital employed (ROACE) increased to 17.8% in 2024, compared to 16.9% in 2023.
“The group’s successful commercial activity was reflected in projects in various geographical areas, from participation in the new Thessaloniki metro in Greece, to the Baccarat beach residences in Miami and the railway in Serbia connecting the airport with the EXPO 2027 facilities,” the company said in a statement.
The group’s activities in the US recorded strong performance, despite project delays that occurred due to adverse weather conditions for most of the second half. Greece recorded a significant increase in sales volume in all product categories, while Southeastern Europe continued its growth path, maintaining stable prices and high sales levels. In the Eastern Mediterranean, demand remained at good levels, but the devaluation of the currency had a negative impact on the region’s profitability.
