Titan Cement: Impressive its progress in 2024Titan Cement (TITC) Group, the Titan of the Athens Stock Exchange, which was the first stock I bought as an investor in 1987, ended 2024 with a shower of new historical highs in its share value.
The group posted record sales in the nine-month period at 1.984 billion euros, up by +4.9% compared to the corresponding period last year. At the same time, it posted a strong increase of +14.6% in EBITDA profits, closing at 454.5 million euros, from 396.7 million euros in the nine-month period last year, while it also had a significant increase of +20.3%, to 237.8 million euros, from 197.6 million euros, in net profitability.
In 2025, we will also have the listing of Titan America on the New York Stock Exchange, thus giving significant goodwill to the group, while the raising of several hundred million dollars will further lower the already “wonderful” net debt / EBITDA ratio, which at the end of last September was at 1.10x.
From a diagrammatic point of view, the stock is moving within the strongly upward “S” channel governed by the two pivots of 2019. Here it is clearly visible that the stock has now taken an upward slope towards 44 euros, with a possible development of breaking the four-year channel with a move towards 48 to 50 euros.
