Titan Cement's consolidated earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 7 year-on-year to Euro286m from Euro267m in 2019. Sales remained level year-on-year at Euro1.61bn and net profit after taxes and minorities (NPAT) fell by 97 to Euro1.50m from Euro50.9m. The group attributed the profit slump to one-off charges, namely the full write-off of the Euro46.6m goodwill of subsidiary Titan Cement Egypt and the derecognition of Euro17.3m of accumulated deferred Egyptian tax assets. If not for these, the group says its consolidated NPAT would have increased by 28 to Euro65.4m.
展开▼
