Titan posts higher first-half 2026 sales and EBITDA, lifts outlook after three acquisitions

Titan reported stronger first-half 2026 results, with sales rising 6.9% year on year to €1.42 billion and EBITDA up 8.7% to €312 million as higher volumes, improved pricing and contributions from three acquisitions offset higher energy costs linked to the conflict in the Middle East. Net profit after taxes and minorities reached €153.2 million, while adjusted net profit rose 16.5% to €146.6 million. Second-quarter sales increased 13.5% to €783.6 million and EBITDA rose 6.0% to €174.2 million, supported by a strong June and a balance of organic growth and newly acquired operations. Net debt stood at €877 million at the end of June, with leverage at 1.4x EBITDA after about €700 million of investments in the acquisitions of Traçim in Türkiye, Keystone in the U.S. and Vracs de l’Estuaire in France. The group said about €80 million of first-half sales and €13 million of EBITDA came from the newly acquired businesses. Organic growth also remained solid, with sales up across all regions for a second consecutive quarter. The U.S. business faced temporary headwinds from an extended outage at the Pennsuco plant in Florida and port logistics disruptions tied to the conflict in Iran, but demand in the Mid-Atlantic remained supported by infrastructure, commercial work and data centers. Greece and the Eastern Mediterranean were key growth markets, while Southeast Europe continued to deliver the group’s highest margins. Titan raised its 2026 guidance and now expects high single-digit sales growth and over-proportional EBITDA growth with margin expansion, driven by higher volumes, an improved price-cost dynamic and balanced contributions from organic growth and acquisitions. Full-year capex is expected at €300 million to €350 million. The company also launched a new share buyback program of up to €20 million running to March 31, 2027, after ending the previous plan, and paid a dividend of €1.10 per share on July 7, 2026.