The Titan cement group on Thursday reported a 29.3-percent hike in first quarter sales, which reached 588.1 million euros, attributed to stronger demand by international markets, as well as favorable weather conditions and higher prices.
Group EBITDA reached 107.1 million euros in Q1 2023, up 131 percent from the corresponding period last year, while net after-tax profits significantly increased, at 44.3 million euros, up from 1.3 million euros in 2022.
Titan Group said investments reached 50 million euros in the January-March 2023 period, and mainly were allocated in the US and Greece markets.
Free cash flows reported seasonal outflows of 19.7 million euros in the first quarter due to higher investment spending, while net borrowing reached 837.6 million euros, up by 40.4 million euros from December 2022.
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