TITAN CEMENT GROUP : A new growth cycle
>Q1 EBITDA well ahead of our expectations - Q1 2021 EBITDA totalled € 56m, up 37.9% and 9% ahead of our expectations (€ 52m). Note that the group had booked in 2020 a maintenance charge of ~€ 15m for its Florida facility. Q1 2021 sales came in at € 370.7m, down by 3.7% but a shade higher than our estimate (€ 366.3m). All activities posted growth; cement (+3%), aggregates (3%) and concrete (+1%). Net debt at end-March of € 759m vs € 878m in Q1 2020 and € 684m...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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