Slide 1: Financial Results – First Quarter 2022
Financial Results – First Quarter 2022 Investors’ and Analysts’ Presentation Nicosia, 12 May 2022
Slide 2: First Quarter 2022 Highlights
First Quarter 2022 Highlights Group Revenue Group EBITDA Group NPAT First Quarter €+15.9m translation impact; 18.3% growth in local currency €+2.1m translation impact; 20.9% decline in local currency • Group Revenue recorded strong growth by 22.6%, reaching €455m. Significant price increases across
Slide 3: First Quarter 2022 Highlights
First Quarter 2022 Highlights € in millions Revenue EBITDA € in millions +17.8%* +9.6%* 267.6 First Quarter 227.3 38.5 -37.6%* -42.1%* 24.0 +23.0%* +30.0%* -5.7%* +41.9%* +4.7%* * Variance vs last year • US Revenue at €268m (+17.8%, +9.6% in $), while EBITDA retracted to €24m. Significant price incr
Slide 4: Record Revenue Levels Not Converted to Improved Profitability Due to Rising Costs (CoGS +32%)
Record Revenue Levels Not Converted to Improved Profitability Due to Rising Costs (CoGS +32%). In Million Euros, unless otherwise stated Q1 2022 Q1 2021 Variance Revenue 454.6 370.7 22.6% Cost of Goods Sold -364.5 -276.3 32.0% Gross Margin (before depreciation) 90.1 94.5 -4.6% SG&A -45.1 -38.2 18.2%
Slide 5: Group Balance Sheet March 2022
Group Balance Sheet 31 March 2022 Variance In Million Euros, unless otherwise stated 31 Mar' 22 31 Dec' 21 Mar 22 vs Dec 21 Property, plant & equipment and inv. Property 1,538.6 1,556.4 -17.8 Intangible assets and goodwill 363.6 363.4 0.2 Investments/Other non-current assets 157.7 124.8 32.9 Non-cur
Slide 6: Stable Group Volume Performance. More Cement Sales in Domestic Markets.
Stable Group Volume Performance. More Cement Sales in Domestic Markets. First Quarter Sales Volume 4.0 3.9 2021A 2022A 5.1 4.7 1.31 1.30 (1), (2) (2) (2) Cement Aggregates Ready-mix (tn m) (tn m) (m3 m) * Intragroup product sales for processing are included in sales volumes (1) Cement sales include
Slide 7: Seasonal Quarterly Outflow Increase Due to Lower EBITDA and Higher CAPEX.
Seasonal Quarterly Outflow Increase Due to Lower EBITDA and Higher CAPEX. Sources and Uses of Cash Q1 Operating Free Cash Flow (€ in millions) 100 €-35m 75 46 9 (3 9) 50 25 (5 1) (4 4) 0 -25 (1 ) (1 5) 7 -50 -75 -100 EBITDA Non-Cash CapEx Operating Acquisitions Interest, Tax, FX Impact Increase in Q
Slide 8: Net Debt at €757m, Same as Previous Year Q1.
Net Debt at €757m, Same as Previous Year Q1. 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 First Quarter 2022
Slide 9: Performance by Region
Performance by Region
Slide 10: USA Top Line Growth Driven by Improved Prices and Volumes
USA Top Line Growth Driven by Improved Prices and Volumes. Rise in Production and Imported Cement Cost Impacted Profitability Margin. USA Revenue USA EBITDA 1st Quarter $299.9 $273.7 $46.3 $26.8 €+18.5m translation impact; 9.6% growth in local currency €+1.7m translation impact; 42.1% decline in loc
Slide 11: Improved Revenue in Greece & WE in Q1 2022. Stable EBITDA.
Improved Revenue in Greece & WE in Q1 2022. Stable EBITDA. Greece Revenue Greece & Corporate EBITDA 1st Quarter • Revenue increased by 23.0% to €70m. Higher domestic cement sales volumes partly offset drop in exports. • EBITDA stable at €6.3m as significant domestic and export price increases just c
Slide 12: Favorable SEE Market Demand Supported Volume and Price Growth
Favorable SEE Market Demand Supported Volume and Price Growth. Decline in Profitability Margin. SEE Revenue SEE EBITDA 1st Quarter • SEE Revenue in grew by 30.0% to €64m. Robust price increases in all countries, as well as overall volume growth in the region. • EBITDA slightly down by -€0.6m to €11m
Slide 13: EMED Revenue and EBITDA Growth Attributed to Egypt’s Performance
EMED Revenue and EBITDA Growth Attributed to Egypt’s Performance. Lower Volumes in Turkey. EMED Revenue EMED EBITDA 1st Quarter €-3.3m translation impact; 50.4% growth in local currency • Strong growth by 41.9% in EMED Revenue to €53m supported by improved pricing. Stable volumes in Egypt, while sal
Slide 14: Brazil – Joint Venture: Cimento Apodi
Brazil – Joint Venture: Cimento Apodi • Cement demand in Brazil in Q1 2022 reached 14.8m tons, -2.4% down y-o-y, affected by heavy rain and the new Omicron variant at the beginning of the year. • The Brazilian economy recorded rising inflation and interest rates. • Selling Prices +11% increase y-o-y
Slide 15: ESG Performance and Targets
ESG Performance and Targets
Slide 16: Future-Ready For a Net Zero World
Future-Ready For a Net Zero World. Accelerating the Pace to Meet the Group’s 2030 Carbon Footprint Reduction Targets. Q1 Highlights 1 4 • 6.6% 2 lower net specific CO2 emissions5 in Q1 2022 (vs. Q1 2021). • Installation of pre-calciner at Kamari plant near Athens, progressing as scheduled. • Expansi
Slide 17: Outlook
Outlook
Slide 18: Outlook 2022
Outlook 2022 • Geopolitical uncertainties lead to unprecedented energy costs • Robust demand across all regions Group • Price initiatives in all markets to safeguard profitability • Digital transformation of production processes through AI • Expansion in lower-carbon cement and progress towards 2030
Slide 19: 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 20: Thank you!
Thank you! We invite you to visit our 2021 Integrated Annual Report Investors' and Analysts' Presentation 20 First Quarter 2022