Titan S.a. · EURONEXT:TITC
Titan — Q1 2026 Earnings Presentation
26 slides from Titan's earnings presentation, May 7, 2026
Slide 1: Financial Results Q1 2026 Investors' & Analysts' Presentation
T I TA N G R O U P Financial Results Q1 2026 Investors’ & Analysts’ Presentation Cyprus, May 7th, 2026 1
Slide 2: Today's Presenters
Today’s Presenters Marcel Cobuz Chair Group ExCo John Ioannou Group CFO Q1 2026 Results – Investors’ & Analysts’ Presentation 2
Slide 3: Q1 2026: Record performance despite uncertain environment
Q1 2026 Record performance despite uncertain environment A quarter with solid volumes and improved pricing led to organic sales growth Positive price over cost drove strong EBITDA margin expansion by 250bps Cost optimization initiatives already deliver tangible financial benefits: >10% of annual tar
Slide 4: M&A Focused Capital Allocation
M&A Focused Capital Allocation All three significant acquisitions of €700m+ have been finalized by 2Q 2026 Keystone Vracs de l’ Estuaire Tracim Keystone Cement (closed in 2Q26) Vracs de L’ Estuaire (closed in 1Q26) Tracim Cement (closed in 1Q26) ✓ Cement plant in Pennsylvania ✓ Grinding plant in - t
Slide 5: Q1 2026 Results
01 Q1 2026 Results Q1 2026 Results – Investors’ & Analysts’ Presentation 5
Slide 6: Q1 2026 Highlights
Q1 2026 Highlights Record performance despite uncertain environment Sales €636m EPS €0.86 Finalized 3 Dividend €1.10 Acquisitions2 per share LfL1 Q1’25 | +4.7% Adj. Q1’25 | +29.0% Tracim (Türkiye) +10% vs PY3 - Payable 7 July ‘26 Keystone (USA) Q1’25 | -0.4% Vracs de l’Estuaire (France) EBITDA €138m
Slide 7: Q1 2026 Sales growth
Q1 2026 Sales growth Solid volumes with improved pricing led to organic sales growth EUR m SALES Like-for-Like 638 636 +4.7% (10) 617 19 (40) 7 589 21 Reported -0.4% 2025 Scope FX 2025 Price Volume 2026 Scope 2026 effect ’25 LfL effect effect LfL effect ’26 LfL (Like-for-Like): Constant exchange rat
Slide 8: Q1 2026 EBITDA growth
Q1 2026 EBITDA growth Positive price over cost drives EBITDA margin expansion by 250bps EUR m EBITDA Like-for-Like +16.0% 138 134 4 123 18 0 (7) 116 Reported +12.4% 2025 Scope FX 2025 Organic 2026 Scope 2026 effect ’25 LfL growth LfL effect ’26 19.2% EBITDA Margin 21.7% LfL (Like-for-Like): Constant
Slide 9: Sales Volume performance
Sales Volume performance Sustained volumes despite adverse weather conditions in the beginning of the year Q1 2026 Highlights ✓Cement at +1%: -1% LfL -1% LfL • Solid performance in Greece. +1% +5% +10% • US region at 2025 levels. 4.2 4.2 16.4 • Strong domestic cement sales in Egypt. 6.0 5.8 15.0 • S
Slide 10: Q1 2026 Operating Free Cash Flow generation
Q1 2026 Operating Free Cash Flow generation Improved operating Free Cash Flow at €53m and Debt increase by €462m EUR m Q1 2026 Operating Free Cash Flow €53m Türkiye & France 138 6 (73) (17) (70) (434) (462) (0) (11) EBITDA Q1 2026 Non-Cash Operating Finance CapEx Acquisitions/ Dividend, Share FX Imp
Slide 11: Net Debt and Liquidity profile
Net Debt and Liquidity profile Despite increase in Net Debt; leverage ratio remains at low levels EUR m Group Net and Gross Debt Evolution Debt Maturity Profile Net Debt/EBITDA ratio at 1.1x Gross Debt >90% of Debt is long-term; 75% with fixed interest rates Bank Debt Net Debt Bond Net Debt/EBITDA L
Slide 12: Overview of Markets Performance
02 Overview of Markets Performance Q1 2026 Results – Investors’ & Analysts’ Presentation 12
Slide 13: USA
USA Solid performance despite increased macroeconomic and geopolitical uncertainty Highlights Sales (€ m) -8% 373 +2% LfL • Strength of our vertical integrated operations, targeted cost initiatives and ongoing strategic investments. (36) 336 342 342 5 0 • Improved performance (LfL), despite a mixed
Slide 14: Greece, Western Europe (& Corporate)
Greece, Western Europe (& Corporate) Strong performance with robust double-digit growth Highlights Sales (€ m) +14% • Favorable market conditions in March, following +7% LfL 142 weather-related disruption in January & February, led 125 125 134 9 0 9 to strong results. • Price increases across produc
Slide 15: Southeastern Europe
Southeastern Europe Improved revenues and profitability despite headwinds from imports Highlights Sales (€ m) +1% +1% LfL • The market remained overall flat. Resilient cement pricing across the region with notable price increases 83 83 84 84 0 1 0 in Bulgaria in the beginning of the year. • Resident
Slide 16: Eastern Mediterranean
Eastern Mediterranean Strong growth in Egypt - EBITDA tripled with strong margin expansion Highlights Sales (€ m) +17% • In Egypt, domestic demand momentum continued, (28) +29% LfL with cement consumption supported by large-scale 58 (48) 57 68 11 projects and residential construction activity. (4) (
Slide 17: Brazil
Brazil Commercial execution & pricing discipline led to strong EBITDA margin growth Highlights Sales (€ m) +16% • In 1Q26, domestic cement consumption in Brazil grew 30 26 26 5 by 1.8%. (0) • In the Northeast region, where we operate, consumption rose by ca. +10% (highest regional performance). 2025
Slide 18: Outlook
03 Outlook Q1 2026 Results – Investors’ & Analysts’ Presentation 18
Slide 19: Energy cost profile
Energy cost profile Energy cost partially mitigated through improved cost exposure profile: increase in Alternative Fuels, Electricity hedging and Surcharges EUR m Energy & Alternative Fuels evolution Energy cost exposure per type (FY2025: ~ €340m) Transport fuels 480 •70% in the US: surcharges in p
Slide 20: Outlook: Remaining cautiously optimistic despite economic uncertainty
Outlook Remaining cautiously optimistic despite economic uncertainty • Geopolitical uncertainty stemming from the conflict USA Greece & Western Europe in the Middle East may have broader macroeconomic • Economic activity to expand at a modest • The Greek economy is expected to implications, includin
Slide 21: Appendix
04 Appendix 21
Slide 22: Group Income Statement – Q1 2026
Group Income Statement – Q1 2026 Reconciliation of reported and LfL figures EUR m Q1 Q1 YoY YoY 2026 2025 % LfL % Sales 636.1 638.4 -0.4% FX impact -39.6 Scope effect 2025 (Adocim) -10.0 Scope effect 2026 (Tracim & Vracs de l' Estuaire) -19.4 Sales LfL 616.7 588.8 4.7% Q1 Q1 YoY YoY 2026 2025 % LfL
Slide 23: Condensed Group Income Statement – Q1 2026
Condensed Group Income Statement – Q1 2026 Strong financial performance EUR m Q1 Q1 YoY 2026 2025 Delta Sales 636.1 638.4 0% Sales LfL 616.7 588.8 5% Cost of Goods Sold -472.0 -488.4 3% Gross profit 164.0 150.0 9% EBITDA 137.8 122.6 12% EBITDA LfL 134.1 115.6 16% Depreciation/Impairments -47.1 -42.8
Slide 24: Glossary
Glossary Abbreviations Definitions CapEx: Capital Expenditures Sales (LfL): Sales adjusted for foreign exchange effects and scope changes. In 2026, scope effects include the acquisitions of Vracs de L'Estuaire (France) and Traçim (Türkiye). In 2025, scope effects CCS: Carbon Capture & Storage includ
Slide 25: Calendar & IR contacts
Calendar & IR contacts Financial Calendar Thank you For more information, please visit our website at https://ir.titanmaterials.com/en 8 May 2026 Annual General Meeting of Shareholders 1 July 2026 Ex-dividend date Contacts Spyros Kamizoulis 2 July 2026 Record date Investor Relations Director ir@tita
Slide 26: Disclaimer
Disclaimer By accessing this presentation, you acknowledge that you have read, understood and accepted the terms of this disclaimer. This presentation (“the Presentation”) has been prepared by Titan SA (the “Company” and together with its subsidiaries, “the Group”) is being provided for informationa