Titan earnings hit by downturn

In the first half of 2012, 719 Titan Cement of Greece posted a 2% drop in its revenues to €548 million, a 21% decrease in its EBITDA (earnings before interest, taxation, depreciation and amortisation) to €112 million, and a 65% decrease in its profits to €8 million, compared with the corresponding period in 2011.

Meanwhile, in the second quarter of 2012, Titan’s revenues increased by 6% to €322 million while its EBITDA fell by 17% to €78 million in comparison with the same period last year.