Titan SA Reveals First-Half Financial Results for 2025
Titan SA, a leading global building materials company, has released its financial results for the second quarter of 2025, showing a mix of positive and negative outcomes compared to the previous year.
In the United States, Titan America — a subsidiary of Titan SA — reported revenues of €429.2 million for Q2 2025, a slight decrease of 0.9% from €433.1 million in Q2 2024. Net income fell 15.2% year-over-year to €51.1 million, with earnings per share dropping to €0.28 from €0.34. These results were affected by adverse weather and planned maintenance at the Pennsuco cement plant.
On a consolidated basis, Titan SA's Q2 2025 sales reached €690.2 million, showing a slight increase from the prior year. EBITDA for this quarter was €164.3 million, but was impacted by the timing of maintenance stoppages in the US.
For the first half (H1) of 2025, Titan SA reported sales of €1,328.6 million, a modest increase of 0.4% year-over-year. EBITDA grew by 2.0% to €286.9 million, reflecting margin resilience due to cost control and operational efficiencies. Net profit after tax (NPAT) reached €68.4 million, which included one-off items such as the sale of cement operations in Eastern Turkey and higher depreciation and taxes.
Despite some regional headwinds, the company's performances in the US, Greece, and Egypt were robust. In the US, performance was weighed down by the shift in timing of the annual maintenance outage at the Florida plant, unfavourable weather conditions, and the weakening of the US dollar. In Greece, activity remained robust, with healthy growth in domestic volumes and pricing. In Egypt, the country was the key growth driver, with both domestic and export volumes increasing at double-digit rates, alongside strong pricing improvements.
Sustainability achievements were a highlight for Titan SA in H1 2025. INTERBETON, TITAN's ready-mix concrete subsidiary in Greece, achieved two national firsts: ISO 46001 certification for efficient water management and Platinum "Zero Waste to Landfill" certification at its unit in "The Ellinikon," Europe's largest urban regeneration project. TITAN's investment in a supplementary cementitious materials (SCM) platform at the former Fiddler's Ferry power station in the UK is aimed at processing ponded fly ash into high-quality material.
TITAN was also included in the CDP A List for climate-focused supplier engagement and received an Ecovadis Silver Badge, placing it in the top 7% of companies in its industry. The company strengthened its partnership with Carbon Upcycling Technologies to advance carbon capture and utilization. A strategic agreement with Ecocem was signed to jointly develop low-carbon cement products, initially targeting the Greek market and aiming for a 70% reduction in carbon footprint. TITAN Usje became North Macedonia's first company to receive Platinum-level "Zero Waste to Landfill" certification.
Titan advanced the implementation of its Green Growth Strategic Directions 2026 in H1 2025. The company achieved a 22.6% alternative fuels substitution rate and a 76.6% clinker-to-cement ratio in H1 2025. TITAN's share of lower-carbon cement products reached 26.9% in the first half of 2025.
Looking ahead, corporate investment is projected to increase, with capital expenditures driven by reshoring efforts, AI/data-center infrastructure development, and non-residential construction. Global real GDP growth is forecasted to slow in 2025 to ca. 2.3%-3.0%, hindered mainly by trade tensions and policy uncertainty. US real GDP growth is expected to remain subdued throughout 2025 due to ongoing challenges such as trade policy uncertainty, elevated tariffs, and the short-term effects of higher interest rates.
The Group continued its share buyback programs, reinforcing its commitment to delivering value to shareholders. As of July 30, 2025, the Group owned 3.8 million treasury shares, representing 4.9% of the total voting rights. A new share buyback program was launched on July 1, 2025, for an amount of up to €10 million and a duration of up to nine months.
The Group, long-term committed to an ambitious digitalization strategy, continued to take significant steps in advancing its digitally empowered, growth-oriented operating model. Key developments in the first half of 2025 included the formation of a cementitious venture in India, a strategic partnership with PEEL to develop a ponded fly ash facility in the UK, and a collaboration with Carbon Upcycling focused on carbon and waste utilization.
Titan was recognised by the Financial Times as one of Europe's Climate Leaders for the 2nd consecutive year and was ranked 150 globally by TIME among the World's Most Sustainable Companies, an improvement of 158 places. In addition, the company won Best Corporate Governance in Greece 2025 at the World Finance Awards, received the Research Innovation Award from the Athens Chamber of Commerce and Industry, and has been on FORTUNE's Most Admired Companies in Greece list for 11 years.
[1] Source: Titan SA Q2 2025 Results Presentation [2] Source: Titan SA H1 2025 Results Presentation [3] Source: Titan SA Annual Report 2024 [4] Source: Titan SA H1 2025 Interim Financial Statements [5] Source: Titan America Q2 2025 Results Presentation
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