Annonce • May 16
Titan S.A. Approves Board Appointment Titan S.A. announced that its Annual General Meeting of Shareholders, held on 8 May 2026, approved appointment of Board of Directors for a term of one year. Titan S.A. Harry David, Independent Director; Stella Kyriakides, Independent Director. New Risk • May 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Belgian stocks, typically moving 5.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Annonce • May 11
TITAN S.A. Announces Appointment of Stavros Pantzaris as Director, Effective May 8, 2026 Coca-Cola HBC AG announces that Stavros Pantzaris, Independent non-Executive Director, has been appointed as a director of TITAN S.A. with effect from May 8, 2026. Reported Earnings • May 08
First quarter 2026 earnings released First quarter 2026 results: EPS: €0.86. Revenue: €636.1m (flat on 1Q 2025). Net income: €64.1m (up 47% from 1Q 2025). Profit margin: 10% (up from 6.9% in 1Q 2025). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Apr 01
Dividend of €0.77 announced Shareholders will receive a dividend of €0.77. Ex-date: 1st July 2026 Payment date: 7th July 2026 Dividend yield will be 1.6%, which is lower than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 52% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 19
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: €3.18 (down from €3.89 in FY 2024). Revenue: €2.67b (flat on FY 2024). Net income: €236.3m (down 18% from FY 2024). Profit margin: 8.9% (down from 11% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.2%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Mar 06
Titan S.A. (ATSE:TITC) completed the acquisition of Tracim Cimento Sanayi Ve Ticaret Anonim Sirketi. Titan S.A. (ATSE:TITC) entered into a share purchase agreement to acquire Tracim Cimento Sanayi Ve Ticaret Anonim Sirketi for $190 million on December 11, 2025. A cash consideration of $190 million will be paid by Titan S.A. As part of consideration, $190 million is paid towards common equity of Tracim Cimento Sanayi Ve Ticaret Anonim Sirketi.
The transaction is subject to approval by regulatory board / committee. The transaction is expected to be completed in the first quarter of 2026. The acquisition is anticipated to contribute to sales above $140 million, to EBITDA above $50 million, and to be EPS accretive in 2026, with further performance improvement from synergies in subsequent years
Gupse Hatko Aydemir and Ezgi Torun of Aydemir Consultancy Legal acted as legal advisors to Titan S.A.
Titan S.A. (ATSE:TITC) completed the acquisition of Tracim Cimento Sanayi Ve Ticaret Anonim Sirketi on March 5, 2026. Annonce • Feb 03
Titan S.A. (ATSE:TITC) acquired Vracs De L'estuaire. Titan S.A. (ATSE:TITC) acquired Vracs De L'estuaire on February 2, 2026.
Titan S.A. (ATSE:TITC) completed the acquisition of Vracs De L'estuaire on February 2, 2026. Board Change • Feb 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 3 highly experienced directors. Independent Director Paula Hadjisotiriou was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Dec 12
Titan S.A. (ATSE:TITC) entered into a share purchase agreement to acquire Tracim Cimento Sanayi Ve Ticaret Anonim Sirketi for $190 million. Titan S.A. (ATSE:TITC) entered into a share purchase agreement to acquire Tracim Cimento Sanayi Ve Ticaret Anonim Sirketi for $190 million on December 11, 2025. A cash consideration of $190 million will be paid by Titan S.A. As part of consideration, $190 million is paid towards common equity of Tracim Cimento Sanayi Ve Ticaret Anonim Sirketi.
The transaction is subject to approval by regulatory board / committee. The transaction is expected to be completed in the first quarter of 2026. The acquisition is anticipated to contribute to sales above $140 million, to EBITDA above $50 million, and to be EPS accretive in 2026, with further performance improvement from synergies in subsequent years. Buy Or Sell Opportunity • Dec 11
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to €45.85. The fair value is estimated to be €36.87, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Earnings per share has grown by 23%. Revenue is forecast to grow by 9.2% in 2 years. Earnings are forecast to grow by 45% in the next 2 years. Annonce • Dec 04
TITAN Advances High-Performance Building Solutions for the Expanding Data Center Market TITAN Group is advancing its solutions for data centers, delivering high-performance, low-carbon materials to support the rapid expansion of digital infrastructure across Europe and the United States. The Group is strengthening its leadership in sustainable construction, delivering its TITAN Edge products - including Velter™? in Greece - as well as a broad range of advanced cement and ready-mix concrete offerings in the United States to meet the evolving needs of data center customers. With a strong record of innovation and a growing base of customers, the company is poised to drive the next wave of sustainable digital infrastructure on both sides of the Atlantic. In Europe, TITAN serves 80% of the data center projects currently being constructed in Greece, offering sustainable, low-carbon, and high-performance concrete solutions, for these highly demanding buildings. To promote sustainable building practices and technical knowledge sharing across the sector, TITAN has joined the Greek Data Center Association (GRDCA). In the United States, Titan America has extensive experience servicing Northern Virginia's "Data Center Alley", home to the largest concentration of data centers in the world. Additionally, since 2022, it has provided products to approximately 40% of the 250 data centers constructed in its served markets, including projects for Amazon Web Services (AWS). TITAN America is responding to these demanding digital infrastructure projects with best-in-class high-performance, sustainable, fast-track concrete mixes, made possible by TITAN's AI-mix optimization and its integrated supply chain of innovative, advanced materials. Looking ahead, TITAN is ideally positioned to capitalize on the rapid growth of the global data center market. In Europe, the implementation of the EU Artificial Intelligence Act ("EU AI Act") and the ongoing digital transformation in countries like Greece are fueling significant new data center investments. By accelerating the integration of AI technologies, the Act is driving robust demand for large-scale digital infrastructure--opening new growth opportunities. In the United States, TITAN America is equally well equipped to respond to the increasing demand driven by the large pipeline of new data centers planned across its operating footprint. Together, these trends create a compelling opportunity for TITAN to reinforce its reputation as a trusted provider of high-performance, low- carbon solutions for the digital infrastructure of the future. Annonce • Nov 27
Titan S.A., Annual General Meeting, May 07, 2026 Titan S.A., Annual General Meeting, May 07, 2026. Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: €1.37 (vs €1.02 in 3Q 2024) Third quarter 2025 results: EPS: €1.37 (up from €1.02 in 3Q 2024). Revenue: €684.0m (up 3.4% from 3Q 2024). Net income: €102.4m (up 35% from 3Q 2024). Profit margin: 15% (up from 12% in 3Q 2024). Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 01
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: €690.2m (down 1.3% from 2Q 2024). Net income: €24.7m (down 74% from 2Q 2024). Profit margin: 3.6% (down from 14% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, while revenues in the Basic Materials industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 23
Upcoming dividend of €2.00 per share Eligible shareholders must have bought the stock before 30 June 2025. Payment date: 03 July 2025. Trailing yield: 7.9%. Within top quartile of Belgian dividend payers (6.6%). Higher than average of industry peers (2.9%). Annonce • Jun 22
Titan S.A. announces Annual dividend, payable on July 03, 2025 Titan S.A. announced Annual dividend of EUR 0.7000 per share payable on July 03, 2025, ex-date on July 01, 2025 and record date on July 02, 2025. Annonce • May 20
Yurt Cimento Sanayi Ve Ticaret Anonim Sirketi and Mugla Cimento Sanayi ve Ticaret A.S. completed the acquisition of 75% stake in Adocim Cimento Beton Sanayi ve Ticaret A.S. from Titan Cement International S.A. (ATSE:TITC). Yurt Cimento Sanayi Ve Ticaret Anonim Sirketi and Mugla Cimento Sanayi ve Ticaret A.S. entered into a definitive agreement to acquire 75% stake in Adocim Cimento Beton Sanayi ve Ticaret A.S. from Titan Cement International S.A. (ATSE:TITC) for $87.5 million on February 19, 2025. A cash consideration of $87.5 million will be paid by Yurt Cimento Sanayi Ve Ticaret Anonim Sirketi and Mugla Cimento Sanayi ve Ticaret A.S. As part of consideration, $87.5 million is paid towards common equity of Adocim Cimento Beton Sanayi ve Ticaret A.S. Yurt Cimento Sanayi Ve Ticaret Anonim Sirketi will acquire 25% stake and Mugla Cimento Sanayi ve Ticaret A.S. will acquire 50% stake in Adocim Cimento. The cement assets included in the divestment comprise an integrated cement plant and a cement terminal, and related infrastructure. Employees associated with these operations will transition as part of the agreement, ensuring continuity for customers and stakeholders.
The transaction is subject to approval by regulatory board / committee. The transaction is expected to complete in the second quarter of 2025. Ilber Aydemir and Gupse Hatko Aydemir of Aydemir Consultancy Legal acted as legal advisor to Titan Cement International S.A. (ATSE:TITC).
Yurt Cimento Sanayi Ve Ticaret Anonim Sirketi and Mugla Cimento Sanayi ve Ticaret A.S. completed the acquisition of 75% stake in Adocim Cimento Beton Sanayi ve Ticaret A.S. from Titan Cement International S.A. (ATSE:TITC) for $87.5 million on Mau 19, 2025. The Group will continue to operate cement grinding and supplementary cementitious assets in other parts of Türkiye. Annonce • May 10
Titan Cement International S.A. (ATSE:TITC) announces an Equity Buyback for €10 million worth of its shares. Titan Cement International S.A. (ATSE:TITC) announces a share repurchase program. Under the program, the company will repurchase up to €10 million worth of common stock. The repurchase program is valid till March 31, 2026. Reported Earnings • May 09
First quarter 2025 earnings released First quarter 2025 results: EPS: €0.59. Revenue: €638.4m (up 2.4% from 1Q 2024). Net income: €43.7m (down 17% from 1Q 2024). Profit margin: 6.9% (down from 8.4% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Basic Materials industry in Europe. Annonce • Apr 15
Titan Cement International S.A. (ATSE:TITC) acquired LATEKAT from the family. Titan Cement International S.A. (ATSE:TITC) acquired LATEKAT from the family on April 14, 2025. The acquisition aligns with the strategy to expand the reserves base in the high-growth areas of Greece.
Titan Cement International S.A. (ATSE:TITC) completed the acquisition of LATEKAT from the family on April 14, 2025. Declared Dividend • Mar 31
Dividend increased to €3.00 Dividend of €3.00 is 253% higher than last year. Ex-date: 1st July 2025 Payment date: 3rd July 2025 Dividend yield will be 7.2%, which is higher than the industry average of 2.5%. Sustainability & Growth The dividend has increased by an average of 35% per year over the past 10 years. However, payments have been volatile during that time. Annonce • Mar 30
Titan Cement International S.A. Proposes Dividend, Payable on July 3, 2025 Titan Cement International S.A. proposed to the Annual General Assembly of Shareholders, scheduled to take place on May 8, 2025, an ad-hoc increase of the annual dividend by €2.00 per share to a total dividend of €3.00 per share, with the payment date of July 3, 2025. Record date: 1 July 2025. Ex-dividend date: 30 June 2025. Annonce • Mar 28
Titan Cement International S.A. Provides Earnings Guidance for the Year 2025 Titan Cement International S.A. provided earnings guidance for the year 2025. For the period, the company expects to optimistic about the Group’s trajectory in 2025, planning for sales and earnings growth, building on robust performance and the implementation of Growth Strategy 2026. expect sales volumes to grow, with top-line growth and margins supported by firm and, in some regions, increased pricing, offsetting higher labor, electricity, and raw materials costs. With proven results in innovation, digitalization and sustainability, are well-positioned to drive sustainable growth, margin expansion and continue improving shareholder returns. Reported Earnings • Mar 27
Full year 2024 earnings released: EPS: €3.89 (vs €3.60 in FY 2023) Full year 2024 results: EPS: €3.89 (up from €3.60 in FY 2023). Revenue: €2.64b (up 3.8% from FY 2023). Net income: €289.2m (up 7.6% from FY 2023). Profit margin: 11% (in line with FY 2023). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 49% per year and the company’s share price has also increased by 49% per year. Annonce • Dec 09
Titan Cement International S.A., Annual General Meeting, May 08, 2025 Titan Cement International S.A., Annual General Meeting, May 08, 2025. Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: €1.02 (vs €1.16 in 3Q 2023) Third quarter 2024 results: EPS: €1.02 (down from €1.16 in 3Q 2023). Revenue: €661.6m (flat on 3Q 2023). Net income: €75.9m (down 13% from 3Q 2023). Profit margin: 12% (down from 13% in 3Q 2023). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 01
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €699.3m (up 9.1% from 2Q 2023). Net income: €96.3m (up 45% from 2Q 2023). Profit margin: 14% (up from 10% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Basic Materials industry in Europe. Annonce • Jul 31
Titan Cement International S.A. (ATSE:TITC) announces an Equity Buyback for €20 million worth of its shares. Titan Cement International S.A. announces a share repurchase program. Under the program, the company will repurchase up to €20 million worth of common stock. The repurchase program is valid till June 30, 2025. Upcoming Dividend • Jun 19
Upcoming dividend of €0.85 per share Eligible shareholders must have bought the stock before 25 June 2024. Payment date: 03 July 2024. Trailing yield: 2.8%. Lower than top quartile of Belgian dividend payers (7.0%). Lower than average of industry peers (3.3%). Upcoming Dividend • Jun 18
Upcoming dividend of €0.85 per share Eligible shareholders must have bought the stock before 25 June 2024. Payment date: 03 July 2024. Trailing yield: 2.8%. Lower than top quartile of Belgian dividend payers (7.0%). Lower than average of industry peers (3.3%). Upcoming Dividend • Jun 18
Upcoming dividend of €0.85 per share Eligible shareholders must have bought the stock before 25 June 2024. Payment date: 03 July 2024. Trailing yield: 2.9%. Lower than top quartile of Belgian dividend payers (7.0%). Lower than average of industry peers (3.3%). Reported Earnings • May 09
First quarter 2024 earnings released: EPS: €0.70 (vs €0.63 in 1Q 2023) First quarter 2024 results: EPS: €0.70 (up from €0.63 in 1Q 2023). Revenue: €623.7m (up 6.1% from 1Q 2023). Net income: €52.4m (up 18% from 1Q 2023). Profit margin: 8.4% (up from 7.5% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 13
Full year 2023 earnings released: EPS: €3.60 (vs €1.53 in FY 2022) Full year 2023 results: EPS: €3.60 (up from €1.53 in FY 2022). Revenue: €2.55b (up 12% from FY 2022). Net income: €268.7m (up 145% from FY 2022). Profit margin: 11% (up from 4.8% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.7% p.a. on average during the next 2 years, compared to a 4.0% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. New Risk • Nov 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.5% per year for the foreseeable future. Minor Risks High level of debt (49% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: €1.16 (vs €0.61 in 3Q 2022) Third quarter 2023 results: EPS: €1.16 (up from €0.61 in 3Q 2022). Revenue: €663.2m (up 5.9% from 3Q 2022). Net income: €86.8m (up 98% from 3Q 2022). Profit margin: 13% (up from 7.0% in 3Q 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Oct 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 9.5%. The fair value is estimated to be €20.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 57%. Revenue is forecast to grow by 4.0% in 2 years. Earnings is forecast to grow by 13% in the next 2 years. Buying Opportunity • Sep 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.6%. The fair value is estimated to be €20.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 57%. Revenue is forecast to grow by 4.0% in 2 years. Earnings is forecast to grow by 7.5% in the next 2 years. Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: €0.84 (vs €0.55 in 2Q 2022) Second quarter 2023 results: EPS: €0.84 (up from €0.55 in 2Q 2022). Revenue: €641.0m (up 10% from 2Q 2022). Net income: €66.6m (up 52% from 2Q 2022). Profit margin: 10% (up from 7.6% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 21
Upcoming dividend of €0.42 per share at 3.5% yield Eligible shareholders must have bought the stock before 28 June 2023. Payment date: 05 July 2023. Trailing yield: 3.5%. Lower than top quartile of Belgian dividend payers (6.7%). In line with average of industry peers (3.5%). Reported Earnings • May 11
First quarter 2023 earnings released: EPS: €0.63 (vs €0.018 in 1Q 2022) First quarter 2023 results: EPS: €0.63 (up from €0.018 in 1Q 2022). Revenue: €588.1m (up 29% from 1Q 2022). Net income: €44.3m (up €43.0m from 1Q 2022). Profit margin: 7.5% (up from 0.3% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 22
Full year 2022 earnings released: EPS: €1.53 (vs €1.23 in FY 2021) Full year 2022 results: EPS: €1.53 (up from €1.23 in FY 2021). Revenue: €2.28b (up 33% from FY 2021). Net income: €109.7m (up 19% from FY 2021). Profit margin: 4.8% (down from 5.4% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 2.7% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: €0.61 (vs €0.33 in 3Q 2021) Third quarter 2022 results: EPS: €0.61 (up from €0.33 in 3Q 2021). Revenue: €626.3m (up 42% from 3Q 2021). Net income: €43.9m (up 83% from 3Q 2021). Profit margin: 7.0% (up from 5.4% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 11
Third quarter 2022 earnings released: EPS: €0.61 (vs €0.33 in 3Q 2021) Third quarter 2022 results: EPS: €0.61 (up from €0.33 in 3Q 2021). Revenue: €626.3m (up 42% from 3Q 2021). Net income: €43.9m (up 83% from 3Q 2021). Profit margin: 7.0% (up from 5.4% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 1.3% growth forecast for the Basic Materials industry in Europe. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 29
Second quarter 2022 earnings released: EPS: €0.61 (vs €0.56 in 2Q 2021) Second quarter 2022 results: EPS: €0.61 (up from €0.56 in 2Q 2021). Revenue: €580.9m (up 29% from 2Q 2021). Net income: €43.9m (up 2.9% from 2Q 2021). Profit margin: 7.6% (down from 9.5% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 4.3% compared to a 7.9% growth forecast for the industry in Belgium. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Annonce • Jul 29
Titan Cement International S.A. (ATSE:TITC) announces an Equity Buyback for €10 million worth of its shares. Titan Cement International S.A. (ATSE:TITC) announces a share repurchase program. Under the program, the company will repurchase up to €10 million worth of its shares. The bought back shares will be held as treasury shares and may be also used in the context of employee incentive plans. The repurchase program is valid for 6 months from the implementation of the plan on September 1, 2022. Reported Earnings • May 13
First quarter 2022 earnings released: EPS: €0.018 (vs €0.20 in 1Q 2021) First quarter 2022 results: EPS: €0.018 (down from €0.20 in 1Q 2021). Revenue: €454.6m (up 23% from 1Q 2021). Net income: €1.31m (down 91% from 1Q 2021). Profit margin: 0.3% (down from 4.1% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 3.4%, compared to a 8.5% growth forecast for the industry in Belgium. Upcoming Dividend • Apr 20
Upcoming dividend of €0.35 per share Eligible shareholders must have bought the stock before 27 April 2022. Payment date: 05 July 2022. Trailing yield: 3.5%. Lower than top quartile of Belgian dividend payers (5.6%). Lower than average of industry peers (4.1%). Reported Earnings • Apr 13
Full year 2021 earnings released: EPS: €1.23 (vs €0.015 in FY 2020) Full year 2021 results: EPS: €1.23 (up from €0.015 in FY 2020). Revenue: €1.71b (up 6.7% from FY 2020). Net income: €91.9m (up €90.8m from FY 2020). Profit margin: 5.4% (up from 0.1% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 13%, compared to a 7.8% growth forecast for the industry in Belgium. Reported Earnings • Mar 18
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €1.20 (up from €0.02 in FY 2020). Revenue: €1.71b (up 6.7% from FY 2020). Net income: €89.6m (up €88.1m from FY 2020). Profit margin: 5.2% (up from 0.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.1%. Over the next year, revenue is forecast to grow 2.1%, compared to a 8.4% growth forecast for the industry in Belgium. Recent Insider Transactions • Dec 01
Board Member recently bought €55k worth of stock On the 26th of November, Alexandra Papalexopoulou-Benopoulou bought around 4k shares on-market at roughly €13.81 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €451k more in shares than they have sold in the last 12 months. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS €0.33 (vs €0.46 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: €441.7m (up 6.2% from 3Q 2020). Net income: €24.0m (down 33% from 3Q 2020). Profit margin: 5.4% (down from 8.5% in 3Q 2020). Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS €0.56 (vs €0.50 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: €450.3m (up 12% from 2Q 2020). Net income: €42.6m (up 12% from 2Q 2020). Profit margin: 9.5% (in line with 2Q 2020). Reported Earnings • May 14
First quarter 2021 earnings released: EPS €0.20 (vs €0.20 loss in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: €370.7m (down 3.6% from 1Q 2020). Net income: €15.3m (up €31.1m from 1Q 2020). Profit margin: 4.1% (up from net loss in 1Q 2020). Reported Earnings • Apr 16
Full year 2020 earnings released: EPS €0.02 (vs €0.65 in FY 2019) The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: €1.61b (flat on FY 2019). Net income: €1.52m (down 97% from FY 2019). Profit margin: 0.1% (down from 3.2% in FY 2019). Price Target Changed • Mar 26
Price target increased to €20.00 Up from €18.50, the current price target is an average from 6 analysts. New target price is 35% above last closing price of €14.86. Stock is up 46% over the past year. Reported Earnings • Mar 24
Full year 2020 earnings released: EPS €0.02 (vs €0.65 in FY 2019) The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: €1.61b (flat on FY 2019). Net income: €1.52m (down 97% from FY 2019). Profit margin: 0.1% (down from 3.2% in FY 2019). Is New 90 Day High Low • Jan 08
New 90-day high: €14.82 The company is up 34% from its price of €11.10 on 09 October 2020. The Belgian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €26.48 per share. Annonce • Nov 26
TITAN Cement Group Announces New Two and Half Year Service Agreement with Flsmidth The full flowsheet at 17 TITAN Cement Group plants is covered in a new two and half year service agreement with FLSmidth. Sustainability, digitalisation and productivity headlines the agreement with the ambition to see best practice implementation across TITAN plants in Europe, Africa, North- and South America. New technological developments and increasing digitisation across the cement flowsheet are enabling both productivity and sustainability improvements, but the journey to achieve maximum value from these investments requires both precious time and specialist skills. To a cement industry facing unrelenting requirements to reduce costs and follow stricter regulations, new partnerships are emerging between producers and service providers, allowing both parties to focus their efforts. Price Target Changed • Nov 13
Price target raised to €18.00 Up from €16.50, the current price target is an average from 4 analysts. The new target price is 37% above the current share price of €13.18. As of last close, the stock is down 28% over the past year. Reported Earnings • Nov 13
Third quarter 2020 earnings released: EPS €0.46 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: €416.1m (down 1.7% from 3Q 2019). Net income: €35.5m (up 11% from 3Q 2019). Profit margin: 8.5% (up from 7.5% in 3Q 2019). The increase in margin was driven by lower expenses. Analyst Estimate Surprise Post Earnings • Nov 13
Revenue beats expectations Revenue exceeded analyst estimates by 1.4%. Over the next year, revenue is expected to shrink by 1.2% compared to a 2.0% growth forecast for the Basic Materials industry in Belgium. Is New 90 Day High Low • Nov 10
New 90-day high: €12.06 The company is up 7.0% from its price of €11.32 on 11 August 2020. The Belgian market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €15.42 per share. Recent Insider Transactions • Nov 01
Board Member recently bought €52k worth of stock On the 29th of October, Alexandra Papalexopoulou-Benopoulou bought around 5k shares on-market at roughly €10.45 per share. In the last 3 months, there was an even bigger purchase from another insider worth €80k. Insiders have collectively bought €1.9m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Sep 26
Executive Director recently bought €80k worth of stock On the 23rd of September, Leonidas Kanellopoulos bought around 8k shares on-market at roughly €10.69 per share. In the last 3 months, they made an even bigger purchase worth €99k. Insiders have collectively bought €1.2m more in shares than they have sold in the last 12 months. Is New 90 Day High Low • Sep 23
New 90-day low: €10.58 The company is down 4.0% from its price of €11.00 on 25 June 2020. The Belgian market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.61 per share. Annonce • Sep 22
Titan Cement International S.A. (ATSE:TITC) acquired 11.85% stake in TITAN Cement Cyprus Ltd from International Finance Corporation. Titan Cement International S.A. (ATSE:TITC) acquired 11.85% stake in TITAN Cement Cyprus Ltd from International Finance Corporation on November 20, 2019. In a different transaction Titan Cement International S.A. also acquired 17.28% stake in Alexandria Development Co Ltd from International Finance Corporation. The aggregate price for the transactions were €81.8 million.
Titan Cement International S.A. (ATSE:TITC) completed the acquisition of 11.85% stake in TITAN Cement Cyprus Ltd from International Finance Corporation on November 20, 2019.