Titan Group Financial Analysis

TITAN

Company Profile

Basic Data

TITAN was founded in Greece in 1902 and more than 100 years after the establishment, continues to develop as a leader in Construction materials field not only in Greece, but also abroad. The group is engaged in the production, trade and distribution of a wide range of construction materials, from aggregates, cement, concrete, cement blocks, dry mortars and fly ash, as well as porcelain ware. The first cement plant operated in Elefsina, Greece, in year 1902. The company soon has been listed in Athens Stock Exchange (1912) and realized the first cement exports (1933), while 20 years later (1952) company’s exports represent the 52% of annual sales and the 50% of the total Greek cement exports. In 1977, the group already owns 4 factories of cement production in Greece. By the year 1980, TITAN becomes the second in the list of the biggest exporting industries in Greece. TITAN’S international appearance is not limited to worldwide exports. In year 2010, TITAN Group with the headquarters in Greece, appears in 12 countries. Group’s activity is carried out by wholly-owned affiliated companies and by joint ventures with other partners. It covers the production of cement, concrete, aggregates, mortars and other building materials; transportation - distribution of products; processing and industrial utilization of fly ash.

From the late 80’s, the Group has strategically shifted operations to vertical integration and has spanned activity to USA (distribution terminal to Port of Newark, New Jersey, 1988) and Western Europe (distribution terminals in Venice- Italy, Marseille- France and Hull- United Kingdom, 1989-1993). In the last 20 years, TITAN Group has managed to achieve the strategic goal of geographic diversification and become a leader in its market. Today, TITAN owns and operates cement plants in Greece, USA, Bulgaria, FYROM, Serbia, Albania, Egypt and Turkey, ready mix concrete facilities, quarries, concrete block plants, fly-ash processing units, a dry mortar plant and Cement distribution terminals in Greece, USA, Italy, France, UK, Albania and Egypt.

TITAN Group has always tried to achieve growth and profitability through respect to people, society and environment. In the first decades of operation in Greece, the company has established allowances and holidays for workers (decades prior to Greek law establishment of similar holidays and allowances), has decreased working hours and days and has paid special attention to workers’ health and security in its plants (it is only an example that in 1974 the company hired an American consultant with objective to train people for accident prevention and establish an Accident Prevention Unit). From the first years of company’s operation, the management sensitivity in social issues was obvious through donations (1922,