Titan Cement 3Q Preview: Slight slowdown due to heavy hurricane season
Titan Cements will report its 3Q results on 7th Nov'24 in which we expect to see top-line coming in 0.9% lower YoY at €657.3m while we expect EBITDA to come in at €147.0m (-5.5% YoY & 22.4% margin). In particular, we expect US revenues to remain flat YoY at €369.2m due to the heavier hurricane season across the mid-Atlantic & Florida. Also, we expect the SEE and East Mediterranean regions to post negative YoY growth owing to slower construction and unfavourable FX. However, Greece and WE is expected to grow by 5.0% YoY thanks to strong execution in Greece. Compared to the CSS, we are on the lower end of the spectrum and continue to maintain our conservative stance on Titan. For FY24, we expect Titan to post a top-line and EBITDA growth of 3.9% and 6.2% respectively.Titan Cement International SA is a Belgium-based international cement and building material producer. The Company's activities include the production, transportation, and distribution of cement, concrete, aggregates, fly ash, mortars and other building materials. The Company reports its activities into four geographical business segments: Greece and Western Europe, North America, South East Europe and Eastern Mediterranean. Apart from the transportation and distribution, the Company also transfers its know-how through collaborations with customers, business partners, local communities and Academia.
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