TITAN Group 2015 Integrated Annual Report

TITAN Group has published its 2015 Integrated Annual Report which presents the Group’s financial results along with its social and environmental performance. The Report is available at http://integratedreport2015.titan.gr/

“Building our future together” is this year’s report theme, focusing on how the Group continues to expand collaborative actions, deepening its partnerships with all stakeholders, at all levels. This commitment to continuous improvement helps us both to integrate stakeholders’ concerns in our strategy and multiply the value we create for and share with them.

Our approach to sustainability and transparency is an integral part of our business. To underline TITAN’s commitment in reporting in accordance to international standards and best practises, it is worth mentioning that TITAN is the first Greek based company invited to become a member of the International Integrated Reporting Council (IIRC).

TITAN Group 2015 Integrated Annual Report highlights:

  • Improvement of Group financial results with 20% increase in turnover and EBITDA, mainly due to the dynamic growth recorded in the US market
  • Intensive capital expenditure program in place with €173m invested in 2015to support the Group’s future growth
  • Ample financial liquidity with diversified sources of funds
  • Upgrade of Standard & Poor’s credit rating to “BB Positive outlook” (2104: BB stable look)
  • 38% increase in environmental footprint investment since last year
  • Surpassed the water reduction target set in 2010 by 18%
  • 2.0 Employee Lost Time Injuries Frequency Rate (LTIFR), a drastic reduction from 5.87 (2005)
  • Total employment was increased by 2.8% – it is the second consecutive year of growth with 614 new hires across the Group
  • Signing of the European Pact for Youth and the Business Manifesto 2020, to help tackle issues such as youth employability and human rights, and participation to the World Business Council for Sustainable Development (WBCSD) Low Carbon Technology Partnerships Initiative (LCTPi).

Prospects for the Group in 2016 appear positive, despite significant challenges and uncertainties. The Group is aligned behind a clear set of priorities, around three axes: balancing profitability and growth, taking the next step in operating excellence and nurturing the long term sustainability of the business.

1The Report is in accordance with “GRI G4 Core” and uses the guidelines and protocols of the Cement Sustainability Initiative (CSI), which operates in the framework of the World Business Council for Sustainable Development (WBCSD). The Report meets the “advanced” level criteria for UN Global Compact Communication on Progress and is independently verified. The new structure of our 4th Annual Integrated Report, with the GRI Index as a separate document, is designed to respond more specifically to the expectations of key stakeholders.