In H1 2024, TITAN Group achieved consolidated sales growth of 7.6%, reaching €1,323.0m, with all regions supporting top-line growth and overall volumes increasing, attributing to the delivery of another strong performance. 

• In the first half of 2024, Group sales increased by 7.6% to €1,323.0 million, with all geographic segments recording an increase, while volumes were higher overall for all Group products. EBITDA was €281.4 million, up 16.7% (20% adjusted for non-recurring costs), thanks to stable prices and improved cost management. Net profit increased by 34.1% to €148.7 million.
• Strong US demand and increased activity in Europe drove a 9.1% increase in sales to €699.3 million in the second quarter of 2024. EBITDA for the quarter was €171.6 million, recording the ninth consecutive quarter of growth
• A further reduction in net debt contributed to a low net debt/EBITDA ratio of 1.1x.
• In the first half of 2024, the group focused on growth-oriented capital expenditures, such as improving energy efficiency, digital transformation projects, acquiring new quarry reserves, and increasing storage facilities.
• The execution of the Green Growth Strategy 2026 continues, with the completion of 4 new bolt-on acquisitions in the first half of the year and significant performance in alternative fuel and clinker substitution. The new Titan Edge and Titan Premier product ranges have already been launched with the aim of doubling sales of sustainable products and solutions by 2026. Carbon capture and storage projects in Greece and thermally activated clay production projects in the US are entering the next stages of study.
• Real-time optimisation systems (end-to-end RTOs) were completed at two more of the group's plants, resulting in further improvements in productivity and energy consumption.
• The Group is progressing on schedule with the plan to list Titan America's operations on the New York Stock Exchange, with a target completion date of the process in the first quarter of 2025.
• A new €20 million treasury share purchase programme is announced, which will commence once the current programme is completed, and a dividend of €0.85 per share was paid on July 3, 2024.
• TITAN Group (TITC) shares were included in the FTSE Russell Large Cap index in the first quarter of 2024 and in the FTSE4Good index at the end of the second quarter of 2024.
• The outlook for the year remains positive thanks to strong demand and resilient prices in the US and Europe, while projects aimed at reducing the carbon footprint and digital transformation are further enhancing operational efficiency.

Marcel Cobuz, Chairman of the Group Executive Committee, said: "We delivered an excellent performance in the first half of the year, with a clear focus on commercial activities and accelerated execution of the Group's 2026 strategy across all our markets. We are pursuing strategic projects, creating value for all our co-shareholders, and focusing on reducing our carbon footprint, digital transformation, driving commercial transformation, and customer service excellence."

Michael Kolakidis, TCI's CEO & Group CFO, said: "We are very pleased with our strong performance so far this year, which has been the result of strong sales, improved operating performance, and increased profitability. The strengthening of our finances enables us to further invest in the US and Europe and to continue to create value. We are optimistic that our efforts will create further value for our co-shareholders in the second half of the year and beyond."