Slide 1: Financial Results – 9 Months 2021
Financial Results – 9 Months 2021 Investors’ and Analysts’ Presentation Nicosia, 11 November 2021
Slide 2: 9 Months 2021 Group Highlights
9 Months 2021 Group Highlights Group Revenue Group EBITDA Group NPAT 9 Months €-60.9m translation impact in 2021 vs LY €-8.7m translation impact in 2021 vs LY 10.1% growth in local currency -0.5% decline in local currency • Revenue growth despite impact from weak US$. 9M 2021 Group Revenue reached €
Slide 3: Robust Demand and Strong Revenue Growth Across Regions
Robust Demand and Strong Revenue Growth Across Regions Revenue EBITDA +8.7%* -5.1%* 9 Months -5.2%* +10.3%* +9.2%* +8.1%* +26.3%* * Variance vs last year US Revenue and EBITDA in US$ • US Revenue up by 2.1% (+8.7% in $) to €731m fueled by residential demand. EBITDA dropped to €127m due to rising log
Slide 4: Lower Q3 EBITDA Due to Spike in Energy and Distribution Costs
Lower Q3 EBITDA Due to Spike in Energy and Distribution Costs. Variance Variance In Million Euros, unless otherwise stated 9M 2021 9M 2020 Q3 2021 Q3 2020 vs LY vs LY Revenue 1,262.8 1,202.4 5.0% 441.7 416.1 6.2% Cost of Goods Sold -925.4 -860.5 7.5% -324.8 -285.3 13.8% Gross Margin (before deprecia
Slide 5: Signs That Peak of Energy and Freight Costs Spike is Behind Us
Signs That Peak of Energy and Freight Costs Spike is Behind Us. Actual Actual Futures Futures Source: Bloomberg (actual prices are monthly average prices; futures are as of 3.11.2021) Investors’ and Analysts’ Presentation 5 9M 2021 Financial Results
Slide 6: Sales Volume Growth Across All Products, Above Strong Q3 2020
Sales Volume Growth Across All Products, Above Strong Q3 2020. 9 Months Sales Volume Third Quarter Sales Volume +9% 13.6 2020A 2020A 12.5 +5% 2021A 2021A 4.8 4.5 +3% 14.8 15.2 +0% +2% 5.0 5.0 -3% 4.06 4.14 1.42 1.38 (1), (2) (2) (2) (1), (2) (2) (2) Cement Aggregates Ready-mix Cement Aggregates Read
Slide 7: Higher CAPEX and Seasonal Increase in Working Capital Led to Lower OFCF
Higher CAPEX and Seasonal Increase in Working Capital Led to Lower OFCF. Sources and Uses of Cash 9M Operating Free Cash Flow (€ in millions) 250 220 2 (90) €68m 200 150 (64) 100 (40) 50 (68) (51) 0 -50 (11) -100 EBITDA Non-Cash CapEx Operating Acquisitions Interest, Tax, FX Impact Increase in 9M 20
Slide 8: Net Debt at €735m (€31m Lower than 2020). Leverage Ratio at 2.58x
Net Debt at €735m (€31m Lower than 2020). Leverage Ratio at 2.58x. Group Net and Gross Debt Evolution 2019 figures affected by adoption of IFRS 16. Group Leverage (Covenant Ratio; Net Debt/12M EBITDA) 8 Investors’ and Analysts’ Presentation 9M 2021 Financial Results
Slide 9: Performance by Region
Performance by Region 9M 2021 Financial Results
Slide 10: USA Revenue
US Robust Market Demand Across All Regions Driven by the Residential Sector. Pressure on the Cost Side. Growth Investments in Logistics Infrastructure and AI. € € € USA Revenue $805.1 +8.7% $874.6 -€47.2m translation impact 8.7% growth in local currency $524.0 $577.5 2 8 82 7 5 Cement plant € € € Ma
Slide 11: US Leading Indicators – Growth Potential for the Residential Sector
US Leading Indicators – Growth Potential for the Residential Sector Building permits at historical high levels Rising housing starts Source: Tradingeconomics.com / U.S. Bureau of Labor Statistics Source: Tradingeconomics.com / U.S. Bureau of Labor Statistics Low housing inventory underpins prospects
Slide 12: Favorable Market Conditions in Greece Led to Revenue and Profitability Growth
Favorable Market Conditions in Greece Led to Revenue and Profitability Growth. Greece Revenue 3 1 25 28 1 2 Greece & Corp EBITDA Cement plant Grinding plant Cement capacity: 6.5 m MT • Greece & WE Revenue grew by 10.3% to €195m, as domestic and WE sales continued strong. • EBITDA rose to €20m (+€4.2
Slide 13: SEE Top Line Growth. Profitability Hit by Soaring Energy Costs
SEE Top Line Growth. Profitability Hit by Soaring Energy Costs. SEE Revenue Titan Plants 5 20 6 1 SEE EBITDA Cement Capacity: 6.3 m MT • SEE Revenue increased by 9.2% to €215m. EBITDA dropped by €3.8m (-5.2%) to €69m. • Volume growth continued in the region. • Price Increases were outpaced by escala
Slide 14: In EMED, Positive Developments in Egypt. Slowdown in Turkish Demand Growth
In EMED, Positive Developments in Egypt. Slowdown in Turkish Demand Growth. €-14.8m translation impact EMED Revenue Cement plant 3 1 14 7 2 Grinding plant €-0.9m translation impact EMED EBITDA Cement capacity: 7.1 m MT • EMED Revenue up by 8.1% to €122m due to improved Q3 performance. Positive EBITD
Slide 15: Brazil – Joint Venture: Cimento Apodi
Brazil – Joint Venture: Cimento Apodi Cimento Apodi operates two units in Ceará state with total capacity over 2m MT cement • Strong demand for building materials observed in the 2nd half of 2020 continued in 2021, primarily due to real estate construction (residential and commercial). • 9M 2021 c
Slide 16: Progressing Against Our Goals
Progressing Against Our Goals 9M 2021 Financial Results
Slide 17: Commitment to the “Business Ambition for 1.5°C” and acceleration of decarbonization
Commitment to the “Business Ambition for 1.5°C” and acceleration of decarbonization efforts across the Group Accelerating climate change mitigation efforts Investment in Research & Innovation • Novel carbon capture and utilization • Signed the “Business Ambition for 1.5°C” Commitment technologies un
Slide 18: Outlook
Outlook 9M 2021 Financial Results
Slide 19: Outlook 2021
Outlook 2021 • Focus on capturing growth opportunities with investments in AI and logistics USA • Price initiatives to safeguard profitability • Digitalization of business processes and expansion in low-carbon cement • Demand growth from both housing & infrastructure anticipated Greece • Price incre
Slide 20: Appendix
Appendix 9M 2021 Financial Results
Slide 21: Group Balance Sheet September 2021
Group Balance Sheet 30 September 2021. Variance In Million Euros, unless otherwise stated 30 Sep' 21 31 Dec' 20 Sep' 21 vs Dec' 20 Property, plant & equipment and inv. Property 1,567.0 1,541.0 26.0 Intangible assets and goodwill 364.4 352.3 12.1 Investments/Other non-current assets 120.2 120.0 0.2 N
Slide 22: 3rd Quarter 2021 Group Results
3rd Quarter 2021 Group Results Group Revenue Group EBITDA Group NPAT Third Quarter €-3.9m translation impact; 7.1% growth in local currency €-0.5m translation impact; -16.3% decrease in local currency 22 Investors’ and Analysts’ Presentation 9M 2021 Financial Results
Slide 23: Q3 Sales and Profitability by Region
Q3 Sales and Profitability by Region Revenue USA GREECE & WE SEE EMED $ 255.1 $ 265.9 EBITDA USA GREECE & WE SEE EMED $ 46.8 $ 41.2 23 Investors’ and Analysts’ Presentation 9M 2021 Financial Results
Slide 24: 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 25: Thank you
Thank you 25 Investors’ and Analysts’ Presentation 9M 2021 Financial Results