Q3 2024 Titan Cement International SA Earnings Call Transcript
Key Points
- Titan Cement International SA (XBRU:TITC) reported a robust nine-month performance with a 5% growth in sales.
- EBITDA increased by 14.6%, driven by improved pricing and operational cost performance.
- The company is making significant progress in its Strategy 2026, focusing on supplementary cementitious materials and low carbon fuels technologies.
- Titan America achieved a strong performance with a 20% increase in EBITDA, despite adverse weather conditions.
- The company is on track with its US IPO plans, aiming for a market entry in the first quarter of 2025.
- Adverse weather conditions, including hurricanes, significantly impacted operations in the US, leading to lost sales.
- The Eastern Mediterranean region faced challenges due to macroeconomic conditions, with a 21% decline in EBITDA.
- Currency devaluations in Egypt negatively affected financial performance in the region.
- Increased capital expenditure investments have led to higher debt levels, although they are lower than the previous year.
- The company faces ongoing challenges with inflation affecting logistics, labor, and raw material costs.
Ladies and gentlemen, thank you for standing by. I am Gailey, your chorus call operator. Welcome and thank you for joining the Titan Cement Group conference call and live webcast to present and discuss the nine months 2024 result.
At this time, I would like to turn the conference over to Mr. Marcel Cobuz, Chairman of the group executive committee and Mr. Michael Colakides, this group CFO. Mr. Bill Zarkalis, we may now proceed.
Thank you. Good morning, good afternoon, everyone and I hope you are doing well wherever you are. Thanks for joining us today. Very happy to report here with Michael and other EBITDA growing quarter with very nice margin expansion which marks a robust nine months performance close to plus 5% in growth of sales.
Despite of the impact of weather in some of the markets and over proportional growth of EBITDA plus 14.6%. Thanks to our improved pricing as well as operational cost performance, which Michael will go
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