Displaying items by tag: Greece

Greece: Titan Cement recorded Euro1.71bn in net sales in 2021, up by 6.7% year-on-year from Euro1.61bn in 2020. The company attributed the boost to higher demand and ‘supportive pricing’ in all of its regions. Cement sales volumes were 18.3Mt, up by 7% year-on-year from 17.1Mt. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) dropped by 4.6% to Euro272m from Euro286m, due to an ‘unprecedented’ second-half costs increase. The group’s net profit was Euro89.6m, compared to Euro1.1m in 2020. During the year, Titan Cement increased the digitisation of its cement production and continued its on-going share buyback programme. Its Scope 1 and 2 CO2 emissions declined by 4% year-on-year, in line with its 2030 target trajectory.

Titan Cement said “Having already achieved the 2025 targets for energy efficiency and zero waste-to-landfill certification, the group’s attention is now focused on empowering business ecosystems to incorporate sustainability considerations in their decision making. To ensure that key suppliers meet the group’s environmental, social and governance (ESG) standards, Titan Cement developed a sustainable supply chain roadmap and published the first Titan Group Procurement Policy.” In the coming year, the group plans to ‘continue to harness the advantages offered by decarbonisation, digital transformation and business model innovation to benefit our customers, employees, suppliers and communities, aspiring to deliver to society carbon-neutral concrete by 2050.’

US: Cement shipments grew by 4.2% year-on-year to 107Mt in 2021 from 103Mt in 2020. Data from the United States Geological Survey (USGS) show that domestic shipments and imports rose by 2.3% to 90.8Mt and 16% to 16.3Mt respectively. Regionally, particular gains were reported in New England and Middle Atlantic, West North Central, Arkansas, Oklahoma, Arizona and New Mexico. Puerto Rico reported a 47% decline in shipments. The largest cement exporting nations to the US were Turkey, Canada, Greece, Mexico and Vietnam. Turkey, Greece and Vietnam each increased their imports by over 30% in 2021.

Greece: Titan Cement has advised the Athens Stock Exchange (ATHEX) that it has bought back a total of 2.2% of its shares under its share buyback scheme between 14 and 18 February 2022. It made the purchases both through the ATHEX and the Euronext Brussels exchange.

Georgia: Cement imports rose by 16% year-on-year to 0.78Mt in the first eleven months of 2021 from 0.68Mt in the same period in 2020. Data from the National Statistics Office of Georgia and the Trend News Agency show that the value of these imports increased to US$40.2m from US$34.6m. Azerbaijan was the leading cement exporting nation to Georgia with a 75% share followed by Turkey with most of the rest. Russia, Greece and Germany have also exported cement to Georgia so far in 2021.

Greece: Titan Cement has recorded sales of Euro1.26bn in the first nine months of 2021, up by 5% year-on-year from Euro1.2bn in the first nine months of 2020. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 4.3% to Euro220m from Euro229m, while its net profit rose by 41% to Euro81.9m from Euro58m.

During the third quarter of 2021, Titan Cement’s US low-carbon cement sales reached 50% of its total US cement sales. It also continued with hydrogen enrichment pilot studies in its cement kilns in Bulgaria and Greece.

Greece: Titan Cement has signed the Science-Based Targets Initiative (SBTi)’s Business Ambition for 1.5°C pledge. In so doing, it joins the UN’s Race to Zero campaign for collaboration towards a global zero-CO₂ future. The Group’s decarbonisation plans consist of an increased reliance on alternative fuel (AF), accelerated energy efficiency improvement efforts and a shift to low-carbon products and processes.

Titan Cement said “Through the participation in European and international consortia, as well as through collaborations in research and development projects, Titan will continue to develop low-carbon cementitious products and pilot carbon capture technologies in its plants, actively contributing to the industry’s ambition for a carbon-neutral future.”

Greece: Titan Group’s consolidated net sales in the first half of 2021 were Euro821m, up by 4% year-on-year from Euro786m, with an 11% rise in cement and clinker sales. The group’s earnings before interest, taxation, depreciation and amortisation (EBITDA) also recorded a 4% increase, to Euro143m from Euro137m. Net profit more than doubled to Euro58m from Euro22m.

Chair Dimitri Papalexopoulos said “Looking ahead we see continuing top line growth, with gains in both volumes and prices. In the short term, the spike in freight rates and energy costs is not allowing us to enjoy the kind of impact in margins which top line growth would imply.”

Greece: Titan Cement has received the validation of the Science-Based Targets Initiative (SBTi) for its CO₂ emissions reduction targets. The validation confirms that the company’s targets are in line with a well-below 2°climate change scenario.

The group aims to reduce Scope 1 emissions per tonne of cementitious product by 21% by 2030 from 2020, and to reduce Scope 2 emissions by 42% within the same parameters. Additionally, it has committed to drive down the CO₂ footprint of its operations and products with the aim of delivering 100% carbon-neutral concrete by 2050. Methods include increasing the use of alternative fuels, accelerating efficiency-improving initiatives, developing low-carbon products, and adopting innovative technologies and solutions. The company says that it will also monitor and independently verify its supply chain emissions.

It said “Through the participation in European and international consortia, as well as through collaborations in research and development, Titan Group will continue to develop low-carbon cementitious products and pilot carbon capture technologies in its plants, actively contributing to the industry’s ambition for a carbon-neutral future.”

Greece: Eurocert has awarded Platinum Zero Waste to Landfill certificates to all three of Titan Group’s cement plants in Greece. The producer said that the certification ‘reaffirms the excellent environmental performance’ of its Kamari, Patra and Thessaloniki cement plants. It says that the plants achieved the highest waste management certificate through effective waste prevention and proper management to avoid landfill.

Greece general manager Angelos Kalogerakos said “Titan is clearly committed to contributing substantively, through its operation and products, to the zero-waste goal. The Platinum Zero Waste to Landfill certification endorses and rewards the good practices that we have systematically applied for many years and that we have adopted in order to minimise our footprint and ensure a sustainable future for coming generations. We want to make all of our partners part of this commitment, aiming for a reliable and sustainable supply chain.”

Greece: Heracles Group, part of Switzerland-based LafargeHolcim, has obtained environmental product declarations (EPDs) for all cements produced at its Volos and Milaki cement plants. The company says that the declarations cover both bagged and bulk products.

Chief executive officer Dimitris Chanis said, “For 110 years, at Heracles Group we have learned to always push the limits of the seemingly possible, pioneer and constantly move forward. Driven by our unwavering priority of sustainable development and our vision regarding the green transformation of the construction sector, we strategically design and develop policies and initiatives that promote a climate neutral and circular economy. EPDs are expected to play a key part in our group's effort to move towards more sustainable construction for a greener and better world for all.”