Titan (TITC) Q4 2025 earnings summary

Executive summary

• Achieved record sales and EBITDA in 2025, marking five consecutive years of growth, with expansion across all regions and core product lines.

• Delivered previous strategic plan a year early and launched the Titan Forward 2029 strategy, focusing on above-market growth, alternative materials, and low-carbon innovation.

• Major acquisitions and partnerships in the US, France, Türkiye, Greece, and the UK, plus multiple bolt-on deals and JVs, expanded the portfolio and capabilities.

• Strong operating free cash flow enabled significant debt reduction and shareholder returns.

• Continued focus on digitalization, sustainability, and innovation, including CO₂ reduction and new product platforms.

Financial highlights

• FY 2025 sales reached €2,669m, up 6.4% like-for-like; EBITDA at €606m, up 9.3% like-for-like, with margin expansion to 22.7%.

• Net profit after taxes and minorities was €236m; EPS grew 7.4% like-for-like to €4.2/share.

• Operating free cash flow at €504m, up from €414m in 2024; net debt reduced to €214m, leverage ratio at 0.4x.

• CapEx of €285m in 2025, focused on growth and efficiency, mainly in the US and Greece.

• Dividend and share buybacks totaled €239m, with a proposed dividend of €1.10/share for 2025, up 10%.

Outlook and guidance

• 2026 guidance: low single-digit sales growth and mid-single-digit EBITDA growth like-for-like, excluding recent acquisitions.

• CapEx guidance for 2026 set at €350–400m, focused on growth, efficiency, and integration of recent acquisitions.

• First two months of 2026 ahead of prior year, with strong momentum in Greece and Egypt.

• Margin expansion to be supported by ongoing cost initiatives and recent acquisitions.

• Monitoring geopolitical risks, especially in the Middle East, with hedging and cost discipline in place.