Titan S.a. · EURONEXT:TITC
Titan — H1 2021 Earnings Presentation
24 slides from Titan's earnings presentation, Jul 29, 2021
Slide 1: Financial Results – First Half 2021
Financial Results – First Half 2021 Investors’ and Analysts’ Presentation Nicosia, 29 July 2021
Slide 2: First Half 2021 Group Highlights
First Half 2021 Group Highlights Revenue and Profitability Growth Despite Spike in Costs and Weaker US$ Group Revenue Group EBITDA Group NPAT € in millions 0.1% 4.4% € in millions 34.8 821.1 12.0% 4.2% 785.4 0.9 786.3 160 800 14.6 136.8 5.8 142.6 122.2 600 120 First Half 400 80 200 40 0 0 Revenue Va
Slide 3: First Half 2021 Regional Performance Highlights
First Half 2021 Regional Performance Highlights Revenue EBITDA Total Assets €76m €2m €85m -6%* +1%* €485m €479m 2% €81m 3% €1,038m 9% -7%* 18% €132m +1%* €42m 29% +14%* 16% +8%* 40% First Half €821m €143m €2,628m +4.4%* 59% €17m +4.2%* 57% €459m 18% 16% +107%* €134m 12% 21% +17%* €561m USA Greece &
Slide 4: Spike in Several Critical Cost Factors
Spike in Several Critical Cost Factors 4 Investors' and Analysts' Presentation H1 2021 Financial Results
Slide 5: Significant Sales Volume Growth Across All Products
Significant Sales Volume Growth Across All Products. First Half Sales Volume Second Quarter Sales Volume +11%(3) 2020A 2020A 8.8 7.9 +19%(3) 2021A 2021A 4.9 +4%(3) 4.1 10.2 +5%(3) 9.8 +5%(3) 5.2 +8%(3) 4.9 2.64 2.76 1.34 1.45 (1), (2) Cement Aggregates (2) Ready-mix (2) Cement (1), (2) Aggregates (2
Slide 6: OFCF at €61m. Stable Net Debt Level Compared to December 2020
OFCF at €61m. Stable Net Debt Level Compared to December 2020, Despite Seasonal H1 Working Capital Increase and €40m Early Payment to IFC. Sources and Uses of Cash H1 Operating Free Cash Flow (€ in millions) 1 43 1 (5 4) 150 €61m 125 100 (2 9) 75 (3 9) 50 25 (23) (6 ) (7 ) 0 -25 EBITDA Non-Cash CapE
Slide 7: Net Debt at €691m on 30 June 2021
Net Debt at €691m on 30 June 2021 (€117m Lower than 30 June 2020). Leverage Ratio at 2.31x . Group Net and Gross Debt Evolution (€ in millions) Net debt Gross Debt 1,200 1112 1,100 988 986 1,000 930947 874 889 891 878 900 831 839 840 787 784 7 72 808 800 739 7 39 732 754 707 674 713 716 758 738751 7
Slide 8: Debt and Liquidity Profile 30 June 2021
Debt and Liquidity Profile 30 June 2021 Facilities by Type / Utilization (€m) Maturity Profile (€m) Utilized Bank Debt 1.400 Total Committed Lines: 921; 400 362 Un-Utilized 1,271 Bond 1.200 Utilization 681 350 6 38% Leases 1.000 486 300 251 250 4 800 600 200 600 348 150 400 321 289 91 247 785 62% 10
Slide 9: Performance by Region
@ TITAN Performance by Region
Slide 10: USA Revenue
Volume Growth Across All Regions and Products in the US. Increased Logistics, Raw Material and Labor Costs Reduce Margin. € in millions 0.8% 475.5 3.8 479.3 480 USA Revenue 360 $524.0 +10.3% $577.5 €-45.1m translation impact 240 10.3% growth in local currency 120 0 2 8 82 7 5 Revenue Variance Revenu
Slide 11: Greece Revenue
Revenue and Profitability Growth in Greece & WE. Rising Demand in Domestic Market, Favorable Sales Mix. € in millions 17.4% 480 Greece Revenue 360 240 113.7 19.8 133.5 120 3 1 25 28 1 2 0 Revenue Variance Revenue 2020 2021 € in millions 106.1% Greece & Corp EBITDA 80 60 Cement plant 40 Grinding plan
Slide 12: SEE Revenue
SEE Solid Performance Continued. Demand Remained Strong, but Costs Rising. € in millions 480 14.1% 360 SEE Revenue 240 115.9 16.4 132.3 120 Titan Plants 0 Revenue Variance Revenue 2020 2021 5 20 6 1 € in millions 7.5% 80 60 Cement Capacity: 6.3 m MT SEE EBITDA 39.1 2.9 42.0 40 20 0 EBITDA Variance E
Slide 13: EMED Revenue
In EMED, Egypt Demand Shows Signs of Recovering in Late H1. Adocim Domestic Volumes Posted Strong Growth. € in millions 480 -6.4% EMED Revenue 360 €-12.2m translation impact 8.6% growth in local currency 240 120 81.1 -5.2 75.9 0 Revenue Variance Revenue 2020 2021 Cement plant € in millions 1.3% 3 1
Slide 14: Brazil – Joint Venture: Cimento Apodi
Brazil – Joint Venture: Cimento Apodi € million H1 2021 H1 2020 Revenue 36.7 29.9 EBITDA 8.8 3.5 Note: Figures at 100%, Apodi consolidated on an equity basis. Cimento Apodi operates two units in Ceará state with total capacity over 2m MT cement • The strong demand for building materials observed i
Slide 15: Progressing Against Our Goals
Progressing Against Our Goals
Slide 16: TITAN Group records substantial progress towards its ESG Targets
TITAN Group records substantial progress towards its ESG Targets Accelerating Climate Change Mitigation Efforts Scope 1 and 2 CO2 emissions reduction targets validated by the SBTi as consistent with levels required to keep global warming well below 2°C Scope 3 CO2 emissions generated from transp
Slide 17: Outlook
Outlook
Slide 18: Outlook 2021
Outlook 2021 • Strong economic rebound fueling the growth cycle in construction USA • Focus on capturing growth opportunities • Demand growth from both housing & infrastructure anticipated Greece • Spike in energy & freight rates impacts profitability • Focus on competitiveness & decarbonization • P
Slide 19: Appendix
Appendix
Slide 20: Strong Sales Volume Growth Leads to Higher Revenue Despite Weak US$
Strong Sales Volume Growth Leads to Higher Revenue Despite Weak US$. Rising Freight and Energy Costs Supress Profitability Growth. NPAT at €58m Due to Lower Finance Costs and FX Gains. Variance Variance In Million Euros, unless otherwise stated H1 2021 H1 2020 Q2 2021 Q2 2020 vs LY vs LY Revenue 821
Slide 21: Group Balance Sheet 30 June 2021
Group Balance Sheet 30 June 2021. Variance In Million Euros, unless otherwise stated 30 Jun' 21 30 Jun' 20 31 Dec' 20 Jun 21 vs Dec 20 Property, plant & equipment and inv. Property 1,542.1 1,660.6 1,541.0 1.1 Intangible assets and goodwill 358.9 418.7 352.3 6.6 Investments/Other non-current assets 1
Slide 22: Q2 Sales and Profitability by Region
Q2 Sales and Profitability by Region Revenue USA GREECE & WE SEE EMED € in millions 6.5% € in millions 34.4% € in millions 22.4% 15.5 253.2 € in millions -3.2% 237.7 240 240 240 240 180 180 180 180 120 120 120 120 19.3 15.3 83.3 75.6 68.0 56.3 60 60 60 60 39.6 -1.3 38.3 0 0 0 0 Revenue Variance Reve
Slide 23: Disclaimer
Disclaimer This presentation has been prepared by Titan for informational purposes only. Although the information contained in this presentation has been obtained from sources which Titan believes to be reliable, it has not been independently verified and no representation or warranty, express or im
Slide 24: Thank you
Thank you 24 Investors' and Analysts' Presentation H1 2021 Financia Results