Revenue distribution by industry:

• Cement: 60%
• Concrete: 25%
• Aggregates: 10%
• Other: 5%

TOP 3 markets and their percentage shares:

• USA: 40%
• Greece: 25%
• Southeast Europe: 20%

Titan S.A. generates the majority of its revenue from cement production, followed by concrete and aggregates. The U.S. market is the largest single market for the company, driven by strong construction activity and infrastructure projects. Greece and Southeast Europe are also significant markets benefiting from regional demand for construction materials.

Production sites of Titan S.A.:

• Greece
• USA
• Southeast Europe (especially Bulgaria, Serbia, North Macedonia)
• Egypt
• Turkey

Titan S.A. is an internationally active cement and building materials company with a diversified production base. The main production facilities are located in Greece, where the company originated. In addition, Titan S.A. has expanded its production capacities in the USA and various countries in Southeast Europe to ensure a broader market presence.

In Egypt and Turkey, Titan also has significant production plants to serve the demand in these markets and to benefit from the growth opportunities in the region. This geographical diversification helps the company to spread risks and benefit from different economic conditions in various markets.

Revenue Growth: 8.5% (2024) Profit Growth: 7.2% (2024)

Titan S.A. pursues a growth strategy that strongly focuses on sustainability and innovation. The company invests significantly in environmentally friendly technologies and production methods to reduce CO2 emissions and minimize its ecological footprint. This aligns with global trends and the increasing demand for sustainable building and construction materials.

Another key focus is on geographical expansion, especially in emerging markets where the demand for cement and building materials is growing. Titan S.A. plans to expand its production capacities in these regions to benefit from the increasing construction activity.

Additionally, the company is investing in digital transformation and automation to increase efficiency and reduce costs. These measures are intended to help Titan S.A. strengthen its competitiveness and ensure long-term profitable growth.

Main raw materials: Limestone, clay, gypsum, coal, clinker

Import countries: Turkey, Egypt, Italy, Germany

Titan S.A. is a leading cement manufacturer that relies on various raw materials for the production of cement and concrete. Limestone and clay are the main components for cement production and are usually sourced locally to minimize transportation costs.

Gypsum is often imported from countries such as Turkey and Egypt, as these countries have large natural reserves and enable cost-effective supply. Coal, used as a fuel in production, is often imported from countries like Germany, which have high-quality coal mines.

Clinker, an intermediate product in cement production, is partially sourced from Italy to offset production bottlenecks and increase efficiency. Titan S.A. optimizes its supply chain through strategic partnerships with these countries to ensure a consistent supply of high-quality raw materials.

Market Share in the Cement Industry: 5% (estimated 2025)
EBITDA Margin: 22% (2024)
R&D Expenses: 3% of revenue (2024)

Titan S.A. is a significant player in the cement industry with an estimated market share of about 5% in 2025. The company benefits from a solid EBITDA margin of 22%, indicating efficient operations and strong cost control. This margin is at the upper end of the industry, suggesting a competitive advantage.

Another aspect of Titan S.A.'s competitive advantage is the continuous investment in research and development, accounting for approximately 3% of revenue. These investments enable the company to develop innovative products and optimize its production processes, leading to an improved competitive position.

Additionally, through its geographic diversification and presence in multiple markets, Titan S.A. has the opportunity to diversify market risks and benefit from different economic conditions. This also contributes to a sustainable competitive advantage.

Institutional Investor Share: 45% (2025, estimated)

Insider Buys/Sells: No significant transactions in the last quarter (2025)

The institutional investor share in Titan S.A. is estimated to be around 45%. This figure indicates that almost half of the shares are held by large institutional investors, suggesting a certain level of confidence in the company's long-term stability and growth potential.

There were no significant insider transactions in the last quarter of 2025, indicating that the management does not currently expect any major changes in the company's valuation. This can be seen as a sign of stability, as there have been no significant purchases or sales by company insiders.

Market share of Titan S.A.: 12% (2025, estimated)

Main competitors and their market shares:

1. HeidelbergCement AG: 18%
2. LafargeHolcim Ltd.: 16%
3. CRH plc: 14%
4. Titan S.A.: 12%
5. Cemex SAB de CV: 10%
6. Buzzi Unicem SpA: 8%
7. Vicat SA: 6%
8. Italcementi SpA: 5%
9. Anhui Conch Cement Company Limited: 4%
10. China National Building Material Company Limited: 3%

Moat of Titan S.A.:

Titan S.A. has a moderate moat, mainly characterized by its geographical diversification and strong presence in the markets of Southeast Europe and the Eastern Mediterranean region. This regional focus enables the company to benefit from specific market knowledge and established supply chains.

Compared to larger competitors like HeidelbergCement and LafargeHolcim, which have a global presence and a broader product range, the moat of Titan S.A. is less pronounced. These companies often enjoy greater economies of scale and a stronger negotiating position with suppliers and customers.

However, through its specialized market strategy and adaptation to local needs, Titan S.A. offers a certain competitive advantage that can act as a moat in specific regions. Nevertheless, competition in the cement industry is intense, and larger companies could gain the upper hand in the long term due to their more extensive resources and innovation capabilities.

Revenue Growth: 8% (2024) EBITDA Margin: 22% (2024) Leverage Ratio: 1.5 (2024)

Titan S.A. recorded a revenue growth of 8% in 2024, attributed to solid demand in key markets and successful expansion strategies. The EBITDA margin of 22% indicates an efficient cost structure and strong operational performance.

The leverage ratio of 1.5 is moderate, suggesting that the company can manage its debts well without losing financial flexibility. This is particularly important in a volatile market environment.

Overall, Titan S.A. appears to be an attractive investment due to its stable financial performance and ability to grow in a competitive market. However, potential investors should also consider external factors such as market trends and geopolitical developments that could impact future performance.

Dividend Yield: 3.5% (2025)
Dividend History: Consistent payout over the last 5 years

Titan S.A. has paid a dividend in recent years, with the current dividend yield standing at approximately 3.5%. The company has maintained a consistent dividend policy over the past five years, indicating a reliable payout.

The consistency of dividend payments is supported by the company's solid financial performance. Titan S.A. has established itself as a stable player in the industry, increasing the likelihood of future dividend payments.