Group management is optimistic TITANIUM for this year’s growth prospects of the two most important markets, the US and Greece. These are the markets from which 70% of the group’s annual income comes from. According to a related presentation yesterday at the Association of Institutional Investors, the cement market in Greece has grown at an annualized rate of 16% over the past four years.

In fact, the outlook is even more positive this year as demand has already started to rise significantly from the second half of 2022 thanks to the gradual launch of a number of flagship projects such as the new Metro Line 4 and Elliniko, where the group has partnered with Lamda Development to install a new hub. ready-mixed concrete with high quality and environmental standards. According to the presentation of the group, in the next five years in Greece, a significant increase in demand for cement is expected in connection with the launch of a number of projects to be financed by European funds, totaling 71 billion euros.

Accordingly, in the US, Florida and especially Miami still have significant growth prospects. For example, Miami has become one of the most popular cities for hosting foreign companies, mainly from Europe and the Middle East, which has increased the demand for office space and housing. The data is expected to “protect” US activity from a possible slowdown in overall housing market demand due to higher interest rates.

Over the past four years, the domestic cement market has grown at a rate of 16%.

At the same time, the group is continuing its investment program, which currently stands at 4.8 billion euros from 2000 to the first nine months of 2022. Of these, 3 billion euros relate to costs for efficiency improvements and modernization of plants, while 1.8 billion euros were allocated for acquisition. The most recent step concerns participation in Perlites Aegean, which will meet the group’s long-term needs for pozzolana. It is an important raw material with which the TITAN Group will enrich the range of low carbon cement products.

Reducing pollutants

For 2023 alone, management estimates that investments of around €200 million will be made, mainly in the direction of further optimizing production capacities and reducing emissions. Based on the target, by 2030 the TITAN group plans to reduce carbon dioxide emissions by 22.8% compared to 2020 levels and by 35% compared to 1990. 100 million over the next decade (10 million euros per year). It should be noted that in the nine months of 2022, the energy balance used at the plants of the group consisted of 17.1% of alternative fuels. The corresponding percentage in 2017 did not exceed 8.9%. Today, 19% of the group’s product portfolio has a low environmental impact, and this percentage is planned to increase to 58% by 2030.