Further strong sales and profitability growth

Titan Cement International SA ( Euronext Brussels, ATHEX and Euronext Paris, TITC) announces the first quarter 2023 summary financial results.

- Very strong start to the year with sales reaching €588.1m, up 29.3%, in a seasonally low quarter, driven by increased demand in some key markets due to mild weather conditions and good pricing performance.

- EBITDA at €107.1m, up 131% versus a below-normal Q1 2022; margin expanded thanks to sales growth, cost performance reflecting benefits from investment projects, improved energy mix with higher alternative fuels usage and softer energy prices.

- Continuous drop in net specific CO2 emissions; further progress digitalizing production & supply chain.

Positive outlook, given supporting demand levels, firm pricing conditions in US and Europe and further performance improvement as investments are completed.