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Titan (TITC) investor relations material
Titan Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Sales rose 0.4% year-over-year to €1,328.6m in H1 2025, with strong performance in the US, Greece, and Egypt despite adverse weather and FX headwinds.
EBITDA increased 2% to €286.9m, with margin resilience from cost controls and operational efficiencies.
Net profit after tax was €68.4m, impacted by a €51.9m one-off loss from the Adocim (Turkey) sale and higher minority interests.
Strong liquidity with net debt at €137m and leverage at 0.2x EBITDA, supported by IPO proceeds and divestments.
Advanced decarbonization and digitalization, with CO2 emissions per ton down 3% and alternative fuel usage at a record 22%.
Financial highlights
H1 2025 sales: €1,328.6m (+0.4% YoY); EBITDA: €286.9m (+2.0% YoY); Net profit: €68.4m (down 54% YoY, or -19% adjusted for Adocim impact).
Q2 2025 sales: €690.2m (-1% YoY); EBITDA: €164.3m (-4% YoY); Net profit: €24.7m (-74% YoY, or -20% adjusted).
Operating free cash flow at €102m in H1 2025; net debt decreased by €485m to €137m.
Earnings per share (basic) for H1 2025: €0.9 (-54% YoY); adjusted EPS: €1.6 (-19% YoY).
CapEx reached €127m, focused on growth, energy, technology, and sustainability.
Outlook and guidance
Maintains cautiously optimistic outlook for H2 2025, expecting continued sales growth and EBITDA margin expansion from robust volumes, firm pricing, and efficiency gains.
US market supported by infrastructure and commercial demand, with residential expected to stabilize in 2026; non-residential and infrastructure remain strong.
Greece and Southeast Europe to benefit from infrastructure projects and EU funds, though risks from political instability and fund delays remain.
Egypt's recovery to continue, driven by reforms and strong construction activity; Turkey's growth to moderate.
CapEx for 2025 expected between €250–300m, prioritizing fast-return and efficiency projects.
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