During the first half of 2026, TITAN Group delivered another period of strong financial performance, demonstrating the successful execution of its strategy and the resilience of its diversified business model. Sales increased by 6.9% (6.9% on a like-for-like basis) to €1.42 billion, driven by higher sales volumes across the Group's core product categories and improved pricing in all geographical regions.
EBITDA reached €312 million, up 8.7% (like-for-like), with further margin expansion as strong operating performance and cost-saving initiatives under Project Prime more than offset higher energy costs. Net profit amounted to €153.2 million, representing a 16% increase on a comparable basis, despite higher depreciation charges and increased tax expenses.
The second quarter was particularly strong, with sales reaching €784 million, up 14% (9% like-for-like), while EBITDA increased by 6% (3.4% like-for-like) to €174.2 million, supported by excellent June performance and the combined contribution of organic growth and recently completed acquisitions. Net debt stood at €877 million, with leverage remaining at 1.4x EBITDA, despite approximately €700 million invested in three strategic acquisitions that are already being rapidly integrated into the Group.
The Group continued to invest in growth and competitiveness, with capital expenditure of €160 million supporting strategic growth projects and operational efficiency improvements. As part of this programme, two new cement storage and loading facilities were inaugurated at the Alexandria plant, strengthening the Group's export capabilities. Total capital expenditure for the full year is expected to range between €300 million and €350 million. At the same time, the deployment of Real-Time Optimizers (RTOs) now covers 88% of the Group's cement production capacity, keeping TITAN on track to achieve full digitalisation of its cement manufacturing operations by year-end.
In line with its TITAN Forward 2029 strategy, the Group secured additional sources of alternative cementitious materials (ACMs) in Serbia and made further progress in developing the Patras Advanced Technologies Hub (PATH), its innovation centre focused on ACM activation technologies and next-generation low-carbon cements. TITAN also invested €3.5 million in follow-on investments within its existing portfolio, new business ventures and venture capital funds, while advancing the engineering and development of the IFESTOS carbon capture and storage (CCS) project in Greece and its thermally activated clay project in the United States.
The Group also continued to strengthen its sustainability performance. The share of lower-carbon products increased to 35.5%, compared with 27.0% in 2025, while TITAN was recognised for the third consecutive year by TIME as one of the World's Most Sustainable Companies and was awarded the EcoVadis Gold Medal.
In addition, the Group announced a new share buyback programme of up to €20 million, running until March 2027, doubling the amount available for share repurchases following the completion of the current programme. A €1.10 per share dividend was paid to shareholders on 7 July 2026.
Reflecting the strong first-half performance, TITAN upgraded its outlook for 2026. Despite continued geopolitical uncertainty, the Group expects higher sales volumes, an improved price-cost relationship and balanced contributions from both organic growth and acquisitions to deliver high single-digit sales growth and an even stronger increase in EBITDA, accompanied by further margin expansion.
