TITAN Cement Group published its 2021 Integrated Annual Report (IAR), which outlines the Group’s financial, as well as environmental, social and governance (ESG) performance. TITAN generated record revenues in 2021 and is well on track to achieve its ESG targets for 2025 and beyond, having made tangible progress in all focus areas: decarbonization and digitalization, growth-enabling work environment, positive local impact and responsible sourcing.
Through integrated reporting, TITAN aims to offer a holistic view of how our Group’s strategy, governance, performance and prospects lead to the creation of shared value over the short, medium and long term for all our stakeholders.
TITAN Cement Group published its 2021 Integrated Annual Report is available here.
TITAN 2021 Integrated Annual Report highlights:
- Record Group revenue of €1,714.6m, up 6.7%, reflecting higher demand and supportive pricing across all regions
- Increase of NPAT to €91.9m* (vs €1.1m in 2020 after €63.9m one-off charges and vs €50.9m in 2019) supported by lower finance costs and FX result
- Focus on shareholder value through share buy-backs, cancellation of treasury shares and capital return of €0.50 per share
- Carbon footprint reduction by 4% (Scope 1 & 2) on course to achieve the Group’s 2030 targets
- TITAN among the first cement companies worldwide with CO2 reduction targets validated by the Science Based Targets initiative (SBTi). TITAN signed the “Business Ambition for 1.5°C” Commitment letter, joining a number of leading companies seeking to keep warming to 1.5°C and reach net-zero emissions by 2050
- Recognition by CDP as a Global Climate Leader (A-) for the transparency and actions to mitigate climate change. TITAN started implementing the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and EU Taxonomy Regulation**
- Digitalization of cement manufacturing through AI and Machine Learning: Rollout of AI-based real-time optimizers and failure prediction solutions across production facilities, yielding gains in productivity and energy efficiency
- Development of a Sustainable Supply Chain Roadmap to ensure that key suppliers meet the Group’s ESG standards
- 142 initiatives in local communities benefiting more than 0.4 million people
* Figures have been restated upwards as a result of the completion of the audit.
** The EU taxonomy is a classification system, establishing a list of environmentally sustainable economic activities. It could play an important role helping the EU scale up sustainable investment and implement the European green deal.