Belgium's Titan SA nine-month sales rise 9% on growth and acquisitions

Overview

• Belgium-based building materials firm's nine-month sales rose 9%, driven by organic growth and acquisitions

• Nine-month EBITDA up 2%, with cost savings partly offsetting higher input costs

• Net profit up 42%, supported by gains from associates and Türkiye

Outlook

• Titan expects high single-digit sales growth and mid-single-digit EBITDA growth for 2026

• Company expects 2026 CapEx of about €300 mln

• Company sees resilient demand in core markets, but notes elevated energy and financing costs

Result Drivers

• ORGANIC GROWTH & ACQUISITIONS - Co said sales expansion was driven by broad-based organic growth and contribution from recent acquisitions

• COST-EFFICIENCY INITIATIVES - Cost-saving measures under Project Prime helped offset higher energy and raw materials costs

• ACQUISITION INTEGRATION - Recent acquisitions contributed more than €150 mln to sales and €28 mln to EBITDA

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 10 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the construction materials peer group is "buy."

• Wall Street's median 12-month price target for Titan SA is €65.20, about 33.2% above its November 4 closing price of €48.94

• The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads

• Nov 4 - Titan America Q3 profit falls on higher costs, weak Florida demand

• Nov 4 - Martin Marietta Q3 revenue beats estimates but profit misses on inflationary pressure

• Nov 4 - Eagle Materials Q2 revenue beats estimates, helped by public infrastructure demand

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)