Titan Group reported a 29.3% increase in its first quarter sales totaling 588.1 million euros, reflecting increased demand in most countries, mild weather conditions and better price levels. Group EBITDA totaled 107.1 million euros in the January-March period, up 131% from the same period last year, while net after tax profits soared to 44.3 million euros from 1.3 million in 2022.
Titan Group continued implementing its investment programme, by investing 50 million euros in the first three months of 2023 focusing on US and Greece. Free cash flows reported seasonal outflows of 19.7 million euros in the quarter due to higher investment spending, while net borrowing was 837.6 million euros, up 40.4 million from December 2022.
SOURCE; ANA-MPA
