Full Year 2024 Titan Cement International SA Earnings Call Transcript
Key Points
- Titan Cement International SA (TTCIF) reported record results for 2024, with a 9.6% increase in EBITDA, despite adverse weather conditions in the last quarter.
- The company achieved margin expansion and continued to invest heavily in supply chain, capacity, and logistics optimization.
- Titan Cement International SA (TTCIF) completed four bolt-on acquisitions, adding 100 million tonnes to its reserves in aggregates.
- The company successfully listed its US subsidiary on the New York Stock Exchange, raising $393 million.
- Titan Cement International SA (TTCIF) achieved a significant reduction in CO2 emissions, with an 11% decrease since 2020, and was recognized for its climate change efforts by CDP, Financial Times, and TIME magazine.
- Adverse weather conditions in the US negatively impacted fourth-quarter volumes, causing a 4% drop in EBITDA.
- The company faced a goodwill impairment charge of EUR17 million in Turkey, affecting net profit.
- Currency devaluation in Egypt and Turkey negatively impacted profitability, despite increased domestic volumes.
- The construction activity in Western Europe declined, affecting export volumes to European terminals.
- The company anticipates increased volatility in the geopolitical and geoeconomic context, which could impact future performance.
Ladies and gentlemen, thank you for standing by. I am Gelly, your Chorus Call operator. Welcome, and thank you for joining the Titan Cement Group conference call and live webcast to present and discuss the full year 2024 results. (Operator Instructions)
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, Group CFO. Mr. Cobuz, you may now proceed.
Thank you, and hello, everyone. We have a large number of participants today, both in the conf call as well the on the webcast. Thank you for your interest. Very happy to be here and speak about results on a very good 2024 performance as well as share some highlights on our Strategy 2026 execution. So maybe three introductory remarks before I pass the floor to Michael.
The first one is that we are announcing today record results for Titan in 2024, marked by top line growth over proportional EBITDA
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