Moderately optimistic about its prospects TITAN group during 2023, his administration appears, despite the uncertainty of recent weeks. For Greece, for example, the TITAN group reports that “the country does not appear to have been hit hard by the international macroeconomic shocks, relying on the potential of the tourism sector, which is expected to reach a record high again this year, as well as from the influx of community funds for the development of digitalization, energy efficiency and the modernization of relevant infrastructures”.

Development of the Greek market this is evident in the housing market, tourism infrastructure, municipal projects and small industrial projects. At the same time, there are plans to develop large-scale infrastructure and urban renewal projectswhich will support the building materials market in the coming years. Accordingly, on USAGroup management notes that “commercial and industrial real estate activity is expected to remain stable, which will support growth in investment in the group’s core markets.”

In 2022, the group recorded a second consecutive record sales level (after 2021), when consolidated sales reached 2.28 billion euros, an increase of 33.1%. 70% falls on the US and Greek markets. At the same time, net income after taxes and minority rights increased by 19.3% to 109.7 million euros, in particular, in the fourth quarter it rose by 106.1% to 20.6 million euros. Accordingly, earnings before taxes, interest and amortization (EBITDA) amounted to 331.2 million euros, up 20.3% compared to 2021, reflecting double-digit growth in all individual markets where the TITAN Group operates. The group’s investments amounted to 242 million euros (up from 126 million euros in 2021), reaching the highest level in the last 15 years. The projects are about future growth, reducing energy costs and optimizing logistics costs and are expected to bring significant financial benefits as early as 2023 and even more in 2024.

According to Group Executive Committee Chairman Marcel Saubuz, “The strong results highlight the group’s resilience, adaptability and our teams’ commitment to the group’s commercial and technological transformation.” Accordingly, Mr. Michael Kolakidis, Group Chief Financial Officer, emphasized that “we ended 2022 with record sales and the best margin (EBITDA) in more than a decade.”

Investments amounted to 242 million euros, the highest level in the last 15 years.

Hellas

In the Greek market, the group’s sales rose by 22% to 326.4 million euros, while operating EBITDA reached 28.5 million euros, almost 5 million euros more than last year. Exports to third parties declined in 2022 as a result of production cuts in Greece due to operation under carbon rights. The majority of cement exports came from Titan America and the group’s network of stations in Europe, which also recorded strong sales and price growth. Market demand continued to be supported by large and small government projects, the real estate market and the development of commercial real estate and tourism infrastructure across the country, management said. At the same time, the pre-defeat plant will start operating in the first half of 2023, which will further increase the use of alternative fuels.

USA

In the US, turnover increased 33.6% to €1.3 billion, while operating EBITDA increased 19.1% to €188.2 million. Florida was among the states that benefited greatly from internal migration, helped by the geographic relocation of companies and the expansion of business activity. North and South Carolina have followed suit, attracting business investment to the region, while Virginia is attracting interest from businesses seeking to be closer to national decision-making centers.