Titan EBITDA jumps 131% y-o-y in Q1
Titan Group reported a 29.3% increase in its first-quarter sales totaling 588.1 million euros, reflecting increased demand in most countries, mild weather conditions and better price levels.
Group EBITDA totaled €107.1 million in the January-March period, up 131% from the same period last year, while net after-tax profits soared to €44.3 million from €1.3 million in 2022.
Titan Group continued implementing its investment program by investing €50 million in the first three months of 2023 with a focus on the US and Greece.
Free cash flows reported seasonal outflows of €19.7 million in the quarter due to higher investment spending, while net borrowing was €837.6 million, up €40.4 million from December 2022.
