Titan’s consolidated turnover was €773.8m, posting a 6.9% increase compared to the first half of 2016. Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA), increased by 18.9% reaching €142.1m.
The second quarter of 2017 confirmed the first quarter’s trends. Titan’s consolidated turnover for Q2 2017 increased by 6.7% and stood at €412mn. EBITDA recorded an increase even above of that recorded in the first quarter, growing by 19.5% to reach €91mn.
In a statement, Titan Group says its 2017 trading prospects remain positive, mainly due to the improvement of results in the US. The recovery of the construction industry in the US, and in particular on the East coast where the Group is active, should continue, fuelled by all three main market segments, i.e. residential construction, commercial real estate and public infrastructure. The growth in demand, in conjunction with the benefits accrued from extensive capital spending program in recent years, have strengthened the Group’s position in the market, and allow for an optimistic outlook on performance.
