Slide 1: Financial Results – 9 Months 2022
Financial Results – 9 Months 2022 Investors and Analysts Presentation Athens, 10 November 2022 © The Ellinikon / Lamda Development
Slide 2: Nine Month 2022 Highlights
Nine Month 2022 Highlights • Group sales increased by 31.6% YTD to €1,661.8m with a very strong Q3 growth of 41.8% vs the same period in 2021. • Sales growth came as a result of higher volumes and strong price increases offsetting cost pressures and was supported by strong USD. • EBITDA rebound in Q
Slide 3: Record Q3 2022 Sales and EBITDA. Margins on an Improving Trend.
Record Q3 2022 Sales and EBITDA. Margins on an Improving Trend. Group Sales Group EBITDA Group NPAT Nine Months Group Sales Group EBITDA Group NPAT Third Quarter 3 9M 2022 Financial Results - Investors and Analysts Presentation
Slide 4: Q3 Sales and Profitability by Region
Q3 Sales and Profitability by Region: Strong EBITDA Growth Across Regions Except SEE. Sales USA GREECE & WE SEE EMED $ 255.1 $ 370.5 $293.5 $ +26.3% $349.0 EBITDA USA GREECE & WE SEE EMED $ 64.0 $51.0 $ +25.6% $45.5 4 9M 2022 Financial Results - Investors and Analysts Presentation
Slide 5: Rise in Domestic Cement Sales - Stable Market Shares
Rise in Domestic Cement Sales - Stable Market Shares 9 Months Sales Volume Third Quarter Sales Volume +2% 2021A +2% 2021A 12.5 12.7 2022A 2022A 4.5 4.6 -5% +1% 15.2 14.4 +2% 4.9 5.0 +2% 4.14 4.22 1.38 1.41 (1), (2) (2) (2) (1), (2) (2) (2) Cement Aggregates Ready-mix Cement Aggregates Ready-mix Dome
Slide 6: P&L view: Pricing gradually offsetting the Overall Cost Increase Impact
P&L view: Pricing gradually offsetting the Overall Cost Increase Impact. Improved Earnings per Share. Variance Variance In Million Euros, unless otherwise stated 9M 2022 9M 2021 Q3 2022 Q3 2021 9M 22 vs 9M 21 Q3 22 vs Q3 21 Sales 1,661.8 1,262.8 31.6% 626.3 441.7 41.8% Cost of Goods Sold -1,287.6 -9
Slide 7: Going forward: Improving Market Conditions for Critical Cost Factors
Going forward: Improving Market Conditions for Critical Cost Factors. Future prices as of 31/10/2022 7 9M 2022 Financial Results - Investors and Analysts Presentation
Slide 8: Group Balance Sheet 30 September 2022
Group Balance Sheet 30 September 2022 Variance In Million Euros, unless otherwise stated 30 Sep' 22 31 Dec' 21 Sep 22 vs Dec 21 Property, plant & equipment and inv. Property 1,779.4 1,556.4 223.0 Intangible assets and goodwill 406.0 363.4 42.6 Investments/Other non-current assets 158.7 124.8 33.9 No
Slide 9: Investing for Growth and Higher Working Capital Leading to €200m Higher Debt
“Investing for Growth” and Higher Sales-Linked Working Capital Leading to €200m Higher Debt. Sources and Uses of Cash 9M 2022 Operating Free Cash Flow (€ in millions) 235 8 (158) 250 200 150 (158) 100 €-73m 50 (199) 0 -50 1 (57) -100 (9) (17) -150 (44) -200 -250 EBITDA Non-Cash CapEx Operating Acqui
Slide 10: Significant Investments Ongoing in USA and Greece
Significant Investments Ongoing in USA and Greece. (€ in millions) • US CAPEX plan involves $300m of investments in 2021-2023, including new domes in import terminals in order to expand cement capacity, storage facilities and logistics improvements. • In Greece investments include calciner unit in K
Slide 11: Net Debt Peaked at €912m. Expected to Drop in Q4.
Net Debt Peaked at €912m. Expected to Drop in Q4. *Note: Bonds include unamortized borrowing fees; Sept’’22 includes interest accruals 11 9M 2022 Financial Results - Investors and Analysts Presentation
Slide 12: Performance by Region
Performance by Region
Slide 13: USA: Strong Market Momentum and Improved Q3
US Strong Market Momentum and Improved Q3. Lower Margin as Pricing not Sufficient to Offset Cost Increase and Negative Impact of Weather. USA Sales USA EBITDA Nine Months $1019.4 $151.5 $874.6 $136.3 $ +16.6% $ -10.0% • Growth in US Sales at €963m YTD (+32%, or +17% in $ terms). Following a good Q2,
Slide 14: Greece: Robust Growth in Domestic Market
Greece Robust Growth in Domestic Market. Improved Profitability and Margin Restoration. Greece Sales Greece & Corporate EBITDA Nine Months • Sales growth continued in Q3 leading to €235m (+21%) in 9M 2022, while EBITDA grew by 15% to €24m, following 33% growth in Q3. • Greek GDP growth > 5%. Higher
Slide 15: SEE: Resilient Sales Growth in 2022
SEE Resilient Sales Growth in 2022. EBITDA Recovery Hit by New Electricity Price Hike. SEE Sales SEE EBITDA Nine Months • SEE Sales in 9M 2022 increased by 30% to €278m. Despite market softening, sales volumes stable as other suppliers failed to deliver. • The good Q2 EBITDA performance was interrup
Slide 16: Egypt Cement Market Growth Continued; Turkey Domestic Decline
Egypt Cement Market Growth Continued. Decline in Domestic Volumes in Turkey. Rise in Exports. EMED Sales EMED EBITDA Nine Months €-38.8m translation impact; 82.8% growth in local currency €-3.0m translation impact; 514% growth in local currency • EMED Sales continued its growth path in Q3, reaching
Slide 17: Brazil – Joint Venture: Cimento Apodi
Brazil – Joint Venture: Cimento Apodi 9M 2022 Apodi (100%) 2022 2021 Sales (€m) 83.4 60.6 EBITDA (€m) 12.2 14.4 • Cement demand slightly retracted by -2.9% y-o-y, affected by the increasing inflation and interest rates, as well as a pullback in infrastructure projects. • Average selling prices rose
Slide 18: Decarbonization - Digital
Decarbonization - Digital HYDROGEN ENERGY STORAGE ==
Slide 19: Future-ready for a net-zero world
Future-ready for a net-zero world More ambitious CO2 targets and robust decarbonization results ① New CO2 targets validated by SBTi in line with the 1.5°C trajectory ② Accelerated pace of decarbonization ✓ Validated from SBTi Net kg CO2/t cem ✓ Covering emissions across the 1.5oC (Scope 1) ↑ Alterna
Slide 20: Group Digital: Q3 2022 highlights
Group Digital: Q3 2022 highlights Applying the tools of the fourth industrial revolution to our business Manufacturing Supply Chain & Customer Experience • AI-based Real-Time Optimizers (RTOs) • Spare Parts inventory optimization • Already deployed in 7 plants in US, Greece and n • Roll out to US pl
Slide 21: Outlook
IRE a. aeons wi
Slide 22: OUTLOOK – 2022/2023
OUTLOOK – 2022/2023 • High inflation, rising interest rates, and a slowdown in economic growth will be challenging the global macroeconomic environment: ➢ Our privileged geographic locations and leading market positions will support our US sales volumes despite housing sector headwinds. Florida’s ec
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 9M 2022 Financial Results - Investors and Analysts Presentation 24