Titan (TITC) Q1 2026 earnings summary

Executive summary

• Achieved record Q1 2026 results with strong sales and EBITDA growth, driven by improved pricing, cost optimization, and three major acquisitions in France, Turkey, and the U.S., despite global and geopolitical uncertainties.

• EBITDA margin expanded by 250 basis points to over 21%, with over 10% of annual cost savings target already realized.

• Net profit after tax rose 46.5% to €64.1m reported, up 29% like-for-like, and EPS increased 29% to €0.86.

• Dividend per share set at €1.10, up 10% year-over-year, with a new €10m share buyback program launched.

• Cost optimization and cash initiatives are delivering tangible financial benefits, with accelerated realization of targeted savings.

Financial highlights

• Sales reached €636m, up 4.7% like-for-like year-over-year, with reported sales slightly down due to FX and scope effects.

• EBITDA rose 16% like-for-like to €138m, with margin expansion to 21.7%.

• Net profit after taxes and minorities rose 46.5% to €64.1m reported, adjusted net profit up 29% to €62.1m.

• Operating free cash flow improved to €53m from €41m last year.

• CapEx totaled €70m in Q1, mainly for growth investments and plant maintenance.

Outlook and guidance

• Cautiously optimistic for 2026, expecting stable volumes, improved price over cost, and further margin expansion.

• CapEx for 2026 estimated at €300–350m, focused on growth and energy-related projects.

• Guidance upgraded to mid-single digit sales growth and high single digit EBITDA growth, excluding contributions from new acquisitions.

• Continued investments and acquisitions expected to drive additional profitability growth, aligned with 2029 growth targets.

• PRIME cost optimization initiative targets €40–50m in savings, with over 10% realized in Q1.