TITAN Cement Group's 2020 Integrated Annual Report
The 2020 Integrated Annual Report of TITAN Cement outlines the Group’s financial, as well as environmental, social, and governance (ESG) performance.
In 2020, TITAN delivered strong financial performance while taking care of its employees and standing by its neighbouring communities. During the year, it ensured high-quality, uninterrupted customer service and accelerated progress towards its digital and sustainability aspirations.
The 2020 Integrated Annual Report highlights the Group`s main achievements of the year:
Highest EBITDA recorded since 2010 at €286m.
Strong cash flow generation and net debt decrease by €155m to €684m.
Key drivers of demand in place to support operational growth in 2021.
Return of capital to shareholders of €0.40 per share (€0.20 per share in previous year) and cancellation of own shares representing 5% of voting rights in Q2 2021.
New Environmental, Social and Governance (ESG) targets for 2025 and beyond, underscoring the Group’s enduring commitment to sustainability and value creation for all.
Ambitious CO2 reduction target set at -35% by 2030, compared to 1990 levels, with the Group embracing the vision of the European Green Deal and the Global Cement and Concrete Association (GCCA) Climate Ambition to deliver society with carbon-neutral concrete by 2050.
Βig data and artificial intelligence tools leveraged to drive decisions, capture operational efficiencies, advance the Group’s supply chain capabilities and redefine how it interacts with customers and partners.
Recognition of the Group’s plant in Florida, USA, as the first cement production facility in the world to be Total Resource Use and Efficiency (TRUE) Platinum certified for zero waste.
Launch of the TITAN Health and Wellbeing framework that covers the key dimensions of health and wellbeing and reflects the importance of following an integrated, holistic approach.
The percentage of employees from local communities remained high, at 83% and the Group continued to support youth employment, offering 251 internships in 2020. Through the ReGeneration Academy for Digital Acceleration, 24 young graduates received training in data science and assistance in finding employment.
Introduction of a remuneration component linked to the Group’s CO2 emissions and reinforcing the oversight of the sustainability agenda at Board level. Further strengthening the Group’s sustainability governance, with the creation of its first Chief Sustainability Officer position, while the former media Release Group CSR Department was expanded to reflect the broader focus of the Group and its stakeholders on ESG issues.
Read TITAN Cement Group’s 2020 Integrated Annual Report
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