Greece: Titan Cement recorded Euro1.71bn in net sales in 2021, up by 6.7% year-on-year from Euro1.61bn in 2020. The company attributed the boost to higher demand and ‘supportive pricing’ in all of its regions. Cement sales volumes were 18.3Mt, up by 7% year-on-year from 17.1Mt. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) dropped by 4.6% to Euro272m from Euro286m, due to an ‘unprecedented’ second-half costs increase. The group’s net profit was Euro89.6m, compared to Euro1.1m in 2020. During the year, Titan Cement increased the digitisation of its cement production and continued its on-going share buyback programme. Its Scope 1 and 2 CO2 emissions declined by 4% year-on-year, in line with its 2030 target trajectory.
Titan Cement said “Having already achieved the 2025 targets for energy efficiency and zero waste-to-landfill certification, the group’s attention is now focused on empowering business ecosystems to incorporate sustainability considerations in their decision making. To ensure that key suppliers meet the group’s environmental, social and governance (ESG) standards, Titan Cement developed a sustainable supply chain roadmap and published the first Titan Group Procurement Policy.” In the coming year, the group plans to ‘continue to harness the advantages offered by decarbonisation, digital transformation and business model innovation to benefit our customers, employees, suppliers and communities, aspiring to deliver to society carbon-neutral concrete by 2050.’
