Titan (TITC) CMD 2025 summary

Strategic vision and transformation

• Entering a transformational era driven by decarbonization, digitalization, and AI, leveraging megatrends for growth across all markets.

• Embracing change with refreshed core values, a culture of innovation, resilience, and long-term value creation.

• Well-positioned in the US, Europe, and East Med, with vertically integrated assets and a strong local presence to exceed market growth trends.

• Agile, decentralized operating model and strong leadership engagement support execution and value creation.

• Focus on operational excellence, digitalization, and sustainability to reinforce market leadership.

Financial performance and guidance

• Achieved 2026 financial targets one year ahead, with sales nearing €3 billion, 7% annual growth, and EBITDA margin expansion of over 200 basis points in three years.

• Targeting €4 billion in sales and €1 billion EBITDA by 2029, with annual sales growth of 6–8%, EBITDA growth of 11–13%, and margin improvement of 250–300bps.

• EPS to rise to €5–€6 per share; ROCE set at 15–17%, with EPS almost tripled compared to three years ago.

• Net debt/EBITDA to be maintained at 1.5x–2.0x, with a BB+ credit rating and positive outlook.

• Plan to return approximately €500 million to shareholders over the period, with double-digit dividend growth targeted.

Growth strategy and business development

• Up to €3–4 billion in capital to be deployed for growth CapEx and M&A, focusing on core heavy materials, alternative cementitious materials (ACMs), and technology.

• ACMs expected to drive 10% of group revenue by 2029, with 150 million tons of reserves secured and further expansion planned.

• Innovation and technology investments of €100–400 million, including new platforms like Precast, advanced digitalization, and carbon capture.

• Over 100 initiatives and €200 million invested in decarbonization, digitalization, and circular economy, targeting >50% low-carbon products in core markets by 2029.

• Expansion in adjacencies such as mortars and precast, aiming for over 50% of sales from new products and businesses within three years.