TITAN CEMENT GROUP : L’éloge de l’incertitude et brouillard de la guerre
>EBITDA 2021 3% < à nos attentes (Q4 < 13%) - EBITDA T4 2021 à 53 M€, en hausse de 3% et inférieur à nos attentes (61 M€). Par rapport à nos estimations, la performance ressort en-dessous de nos attentes aux Etats-Unis (coûts du fret) et en Europe du Sud où le groupe a souffert des prix élevés de l’électricité (cf page 2). Le groupe a continué à souffrir de l’environnement prix d’énergie et frais de logistique élevés mais la marge d’EBITDA se dégrade nettement moins q...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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