TITAN CEMENT GROUP : In praise of uncertainty and the fog of war
>EBITDA 2021 3% < our estimates (Q4 < 13%) - Q4 20212 EBITDA came to € 53m, up 3% and missing our forecast (€ 61m). The performance fell short of our estimates in the US (freight costs) and southern Europe where the group was adversely affected by high electricity prices (see page 2). TITAN continued to suffer from the energy price environment and high logistics costs but the EBITDA margin deteriorated much less than in Q3. It came to 12% in Q4 vs 13% in Q4 2020, a ma...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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