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Titan Cement International

ENXTBR:TITC
Snowflake Description

Moderate growth potential with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TITC
ENXTBR
€843M
Market Cap
  1. Home
  2. BE
  3. Materials
Company description

Titan Cement International S.A. manufactures and sells cement and building materials in the United States and Canada, Greece and Western Europe, Southeastern Europe, and the Eastern Mediterranean. The last earnings update was 16 days ago. More info.


Add to Portfolio Compare Print
  • Titan Cement International has significant price volatility in the past 3 months.
TITC Share Price and Events
7 Day Returns
-7.1%
ENXTBR:TITC
0.6%
Europe Basic Materials
2.3%
BE Market
1 Year Returns
-
ENXTBR:TITC
-31.3%
Europe Basic Materials
-28.9%
BE Market
TITC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Titan Cement International (TITC) -7.1% -28.1% -51.6% - - -
Europe Basic Materials 0.6% -26.5% -35.9% -31.3% -40.2% -37.4%
BE Market 2.3% -17.3% -29.9% -28.9% -37.4% -42.7%
1 Year Return vs Industry and Market
  • No trading data on TITC.
  • No trading data on TITC.
Price Volatility
TITC
Industry
5yr Volatility vs Market

Value

 Is Titan Cement International undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Titan Cement International to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Titan Cement International.

ENXTBR:TITC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.7%
Perpetual Growth Rate 10-Year BE Government Bond Rate 0.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ENXTBR:TITC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year BE Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.2%
Basic Materials Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.813 (1 + (1- 29%) (109.91%))
1.3
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.3
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.65% + (1.3 * 6.21%)
8.72%

Discounted Cash Flow Calculation for ENXTBR:TITC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Titan Cement International is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

ENXTBR:TITC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 8.72%)
2020 91.90 Analyst x3 84.53
2021 114.50 Analyst x3 96.87
2022 72.80 Analyst x2 56.65
2023 62.82 Est @ -13.71% 44.96
2024 56.91 Est @ -9.4% 37.47
2025 53.27 Est @ -6.39% 32.26
2026 51.00 Est @ -4.28% 28.40
2027 49.57 Est @ -2.8% 25.39
2028 48.69 Est @ -1.76% 22.94
2029 48.19 Est @ -1.04% 20.89
Present value of next 10 years cash flows €450.00
ENXTBR:TITC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €48.19 × (1 + 0.65%) ÷ (8.72% – 0.65%)
€600.99
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €600.99 ÷ (1 + 8.72%)10
€260.47
ENXTBR:TITC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €450.00 + €260.47
€710.47
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €710.47 / 82.45
€8.62
ENXTBR:TITC Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in ENXTBR:TITC represents 0.91487x of ATSE:TITC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.91487x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 8.62 x 0.91487
€7.88
Value per share (EUR) From above. €7.88
Current discount Discount to share price of €9.35
= -1 x (€9.35 - €7.88) / €7.88
-18.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Titan Cement International is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Titan Cement International's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Titan Cement International's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTBR:TITC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €0.65
ATSE:TITC Share Price ** ATSE (2020-04-03) in EUR €10.22
Europe Basic Materials Industry PE Ratio Median Figure of 33 Publicly-Listed Basic Materials Companies 9.18x
Belgium Market PE Ratio Median Figure of 88 Publicly-Listed Companies 12.91x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Titan Cement International.

ENXTBR:TITC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ATSE:TITC Share Price ÷ EPS (both in EUR)

= 10.22 ÷ 0.65

15.84x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Titan Cement International is overvalued based on earnings compared to the Europe Basic Materials industry average.
  • Titan Cement International is overvalued based on earnings compared to the Belgium market.
Price based on expected Growth
Does Titan Cement International's expected growth come at a high price?
Raw Data
ENXTBR:TITC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.84x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
9.5%per year
Europe Basic Materials Industry PEG Ratio Median Figure of 17 Publicly-Listed Basic Materials Companies 1.67x
Belgium Market PEG Ratio Median Figure of 40 Publicly-Listed Companies 0.95x

*Line of best fit is calculated by linear regression .

ENXTBR:TITC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.84x ÷ 9.5%

1.67x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Titan Cement International is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Titan Cement International's assets?
Raw Data
ENXTBR:TITC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €17.72
ATSE:TITC Share Price * ATSE (2020-04-03) in EUR €10.22
Europe Basic Materials Industry PB Ratio Median Figure of 39 Publicly-Listed Basic Materials Companies 0.79x
Belgium Market PB Ratio Median Figure of 114 Publicly-Listed Companies 1.24x
ENXTBR:TITC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ATSE:TITC Share Price ÷ Book Value per Share (both in EUR)

= 10.22 ÷ 17.72

0.58x

* Primary Listing of Titan Cement International.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Titan Cement International is good value based on assets compared to the Europe Basic Materials industry average.
X
Value checks
We assess Titan Cement International's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Basic Materials industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Basic Materials industry average (and greater than 0)? (1 check)
  5. Titan Cement International has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Titan Cement International expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Titan Cement International expected to grow at an attractive rate?
  • Titan Cement International's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Titan Cement International's earnings growth is expected to exceed the Belgium market average.
  • Titan Cement International's revenue growth is expected to exceed the Belgium market average.
Annual Growth Rates Comparison
Raw Data
ENXTBR:TITC Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTBR:TITC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 9.5%
ENXTBR:TITC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 2.7%
Europe Basic Materials Industry Earnings Growth Rate Market Cap Weighted Average 4.5%
Europe Basic Materials Industry Revenue Growth Rate Market Cap Weighted Average 2%
Belgium Market Earnings Growth Rate Market Cap Weighted Average 6%
Belgium Market Revenue Growth Rate Market Cap Weighted Average 1.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ENXTBR:TITC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTBR:TITC Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,776 1
2022-12-31 1,704 239 70 2
2021-12-31 1,734 258 47 4
2020-12-31 1,517 241 38 1
2020-04-04
ENXTBR:TITC Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 1,610 274 51
2019-09-30 1,597 283 49
2019-06-30 1,563 283 42
2019-03-31 1,530 237 47
2018-12-31 1,490 261 54
2018-09-30 1,463 227 60
2018-06-30 1,444 226 54
2018-03-31 1,466 229 47
2017-12-31 1,506 226 43
2017-09-30 1,529 229 39
2017-06-30 1,559 225 132
2017-03-31 1,533 233 142

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Titan Cement International's earnings are expected to grow by 9.5% yearly, however this is not considered high growth (20% yearly).
  • Titan Cement International's revenue is expected to grow by 2.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ENXTBR:TITC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Titan Cement International Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTBR:TITC Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 1.04 1.21 0.86 2.00
2021-12-31 1.10 1.70 0.57 3.00
2020-12-31 0.47 0.47 0.47 1.00
2020-04-04
ENXTBR:TITC Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 0.65
2019-09-30 0.61
2019-06-30 0.53
2019-03-31 0.58
2018-12-31 0.67
2018-09-30 0.74
2018-06-30 0.67
2018-03-31 0.59
2017-12-31 0.53
2017-09-30 0.48
2017-06-30 1.63
2017-03-31 1.75

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Titan Cement International is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Titan Cement International's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Titan Cement International has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Titan Cement International performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Titan Cement International's growth in the last year to its industry (Basic Materials).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Titan Cement International's year on year earnings growth rate has been positive over the past 5 years.
  • Titan Cement International's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Titan Cement International's 1-year earnings growth is negative, it can't be compared to the Europe Basic Materials industry average.
Earnings and Revenue History
Titan Cement International's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Titan Cement International Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTBR:TITC Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 1,609.78 50.91 170.48
2019-09-30 1,596.74 48.86 157.66
2019-06-30 1,563.03 42.34 151.72
2019-03-31 1,530.33 46.75 150.98
2018-12-31 1,490.10 53.85 147.68
2018-09-30 1,463.18 59.82 146.67
2018-06-30 1,444.49 53.59 146.40
2018-03-31 1,466.44 47.50 147.78
2017-12-31 1,505.80 42.68 148.54
2017-09-30 1,529.46 38.61 146.41
2017-06-30 1,559.17 132.18 148.25
2017-03-31 1,533.20 142.17 145.16
2016-12-31 1,509.15 127.44 144.27
2016-09-30 1,492.51 119.50 146.67
2016-06-30 1,448.84 18.76 142.97
2016-03-31 1,451.79 8.51 140.84
2015-12-31 1,397.82 33.75 135.96
2015-09-30 1,322.18 36.62 132.05
2015-06-30 1,270.16 52.24 127.10
2015-03-31 1,190.44 48.61 123.66
2014-12-31 1,158.41 30.95 120.01
2014-09-30 1,141.90 8.98 113.21
2014-06-30 1,139.04 -11.37 112.95
2014-03-31 1,144.49 -20.02 110.30
2013-12-31 1,127.94 -36.07 108.95
2013-09-30 1,135.44 -41.06 109.70
2013-06-30 1,132.73 -54.66 110.28

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Titan Cement International has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Titan Cement International used its assets less efficiently than the Europe Basic Materials industry average last year based on Return on Assets.
  • Titan Cement International's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Titan Cement International's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Basic Materials industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Titan Cement International has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Titan Cement International's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Titan Cement International's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Titan Cement International is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Titan Cement International's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Titan Cement International's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Titan Cement International Company Filings, last reported 3 months ago.

ENXTBR:TITC Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,409.79 926.13 90.39
2019-09-30 1,492.87 1,014.52 123.84
2019-06-30 1,468.26 997.98 224.07
2019-03-31 1,465.84 933.35 113.88
2018-12-31 1,471.29 930.99 171.00
2018-09-30 1,347.03 933.59 161.96
2018-06-30 1,335.51 940.50 189.43
2018-03-31 1,342.50 971.91 233.77
2017-12-31 1,369.67 863.50 154.25
2017-09-30 1,387.77 825.07 67.27
2017-06-30 1,400.00 875.97 89.42
2017-03-31 1,534.90 814.12 97.98
2016-12-31 1,552.82 821.91 179.71
2016-09-30 1,719.46 876.97 164.24
2016-06-30 1,621.43 851.58 274.06
2016-03-31 1,598.43 683.54 80.42
2015-12-31 1,705.29 730.78 123.84
2015-09-30 1,680.17 817.68 168.15
2015-06-30 1,667.36 849.33 219.62
2015-03-31 1,710.83 797.84 137.72
2014-12-31 1,627.60 684.43 143.01
2014-09-30 1,608.83 702.54 173.07
2014-06-30 1,520.11 718.42 227.01
2014-03-31 1,528.23 716.58 173.93
2013-12-31 1,538.81 692.38 184.32
2013-09-30 1,598.79 825.45 227.61
2013-06-30 1,610.82 902.00 299.42
  • Titan Cement International's level of debt (61.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (42.1% vs 61.1% today).
  • Debt is well covered by operating cash flow (31.9%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Titan Cement International's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Titan Cement International has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Titan Cement International's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.47%
Current annual income from Titan Cement International dividends. Estimated to be 2.99% next year.
If you bought €2,000 of Titan Cement International shares you are expected to receive €29 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Titan Cement International's pays a lower dividend yield than the bottom 25% of dividend payers in Belgium (2.73%).
  • Titan Cement International's dividend is below the markets top 25% of dividend payers in Belgium (6.21%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ENXTBR:TITC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Europe Basic Materials Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 4.7%
Belgium Market Average Dividend Yield Market Cap Weighted Average of 74 Stocks 5%
Belgium Minimum Threshold Dividend Yield 10th Percentile 1.1%
Belgium Bottom 25% Dividend Yield 25th Percentile 2.7%
Belgium Top 25% Dividend Yield 75th Percentile 6.2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ENXTBR:TITC Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 0.29 2.00
2021-12-31 0.35 4.00
2020-12-31 0.15 1.00
2020-04-04
ENXTBR:TITC Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-21 0.150 0.870
2018-03-28 0.580 2.858
2017-03-23 0.105 0.457
2016-07-28 0.310 1.445
2016-03-10 0.310 1.607
2015-03-05 0.150 0.776
2014-02-28 0.100 0.471
2012-11-12 0.000 0.000
2012-08-29 0.000 0.000
2012-05-04 0.000 0.000
2012-04-30 0.000 0.000
2012-03-01 0.000 0.000
2011-03-17 0.078 0.565
2010-01-15 0.180 1.088

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Titan Cement International's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.5x coverage).
X
Income/ dividend checks
We assess Titan Cement International's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Titan Cement International afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Titan Cement International has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Titan Cement International's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dimitri Papalexopoulos
AGE 57
TENURE AS CEO 24.3 years
CEO Bio

Mr. Dimitrios Th. Papalexopoulos has been Managing Director of Titan Cement Company S.A. since 1996 and has been its Chief Executive Officer since 1989. Mr. Papalexopoulos joined Titan in 1991 having occupied many financial posts. He served as the Chief Executive Officer at S.A. TITAN Cement since 1996. He served as a Business Consultant at McKinsey & Company Inc. from 1987 to 1989. He has been an Executive Director of Titan Cement Company S.A. since June 24, 1992 and serves as its Member of Advisory Council. He serves as a Director at Titan Egyptian Investments Ltd. He served as Independent Director at Eurobank Ergasias S.A., since June 18, 2010. He served as a Non Executive & Independent Non Executive Director of Lamda Development SA since 1991. He serves on the Boards of the Hellenic Harvard Foundation, the Federation of Hellenic Enterprises, the Foundation for Economic and Industrial Research and the Athens Laboratory of Business Administration (ALBA) and the Hellenic- American Educational Foundation. He was a Director of Hellenic American Educational Foundation until November 20, 2006. Mr. Papalexopoulos holds a degree in Electrical Engineer (Dipl. EL-Ing. ETH, 1985) from the Swiss Federal Institute of Technology and an MBA from Harvard Business School, USA (1987).

CEO Compensation
  • Insufficient data for Dimitri to compare compensation growth.
  • Insufficient data for Dimitri to establish whether their remuneration is reasonable compared to companies of similar size in Belgium.
Management Team Tenure

Average tenure and age of the Titan Cement International management team in years:

14.3
Average Tenure
57.5
Average Age
  • The average tenure for the Titan Cement International management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Dimitri Papalexopoulos

TITLE
CEO, MD
AGE
57
TENURE
24.3 yrs

Michael Colakides

TITLE
Group CFO
AGE
65
TENURE
6.3 yrs

Fokion Tasoulas

TITLE
Executive Director of Group Technology & Engineering

Afroditi Sylla

TITLE
Investor Relations Director

Yiannakopoulou Lydia

TITLE
Group Corporate Communications Director

John Kollas

TITLE
Group Human Resources Director

Alexandra Papalexopoulou-Benopoulou

TITLE
Executive Director of Group Statergic Plannig & Executive Director
AGE
53

Bill Zarkalis

TITLE
Director of US Region & Executive Director
AGE
58

Eleni Papapanou

TITLE
Head Counsel
TENURE
14.3 yrs

Grigorios Dikaios

TITLE
Finance Director Greece Region
Board of Directors Tenure

Average tenure and age of the Titan Cement International board of directors in years:

5.5
Average Tenure
66.5
Average Age
  • The tenure for the Titan Cement International board of directors is about average.
Board of Directors

Takis Arapoglou

TITLE
Chairman
AGE
68
TENURE
3.8 yrs

Dimitri Papalexopoulos

TITLE
CEO, MD
AGE
57

Michael Colakides

TITLE
Group CFO
AGE
65
TENURE
4.3 yrs

Alexandra Papalexopoulou-Benopoulou

TITLE
Executive Director of Group Statergic Plannig & Executive Director
AGE
53
TENURE
24.9 yrs

Bill Zarkalis

TITLE
Director of US Region & Executive Director
AGE
58
TENURE
6.8 yrs

Andreas Canellopoulos

TITLE
Chairman of Advisory Council
COMPENSATION
€487K
AGE
79

Kyriacos Riris

TITLE
Independent Vice Chairman of the Board
AGE
69

Mona Zulficar

TITLE
Independent Non-Executive Director
AGE
71

Michael Sigalas

TITLE
Member of Advisory Council
AGE
70

William Antholis

TITLE
Independent Non-Executive Director
AGE
55
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Titan Cement International individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
01. Apr 20 Buy Leonidas Canellopoulos Individual 01. Apr 20 01. Apr 20 3,404 €9.95 €33,720
27. Mar 20 Buy Leonidas Canellopoulos Individual 27. Mar 20 27. Mar 20 7,665 €10.19 €78,006
26. Mar 20 Buy Leonidas Canellopoulos Individual 26. Mar 20 26. Mar 20 44 €10.20 €449
25. Mar 20 Buy Leonidas Canellopoulos Individual 25. Mar 20 25. Mar 20 5,000 €10.50 €52,500
23. Mar 20 Buy Leonidas Canellopoulos Individual 23. Mar 20 23. Mar 20 10,000 €10.10 €101,000
20. Mar 20 Buy Leonidas Canellopoulos Individual 20. Mar 20 20. Mar 20 5,000 €10.77 €53,850
X
Management checks
We assess Titan Cement International's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Titan Cement International has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Titan Cement International S.A. manufactures and sells cement and building materials in the United States and Canada, Greece and Western Europe, Southeastern Europe, and the Eastern Mediterranean. It provides cement, ready-mix concrete, aggregates, mortars, and other building materials that are used in various activities comprising infrastructure, residential housing, commercial buildings, and social projects. The company is also involved in the shipping, trading, and port activities; production and trade of electricity; import and distribution of cement; ownership/development of real estate properties; and provision of financial, real estate brokerage, insurance, and transportation services. In addition, it engages in processing alternative fuels; renting and leasing machines, equipment, and material goods; and the provision of engineering design services for solid and liquid waste facilities. The company was founded in 1902 and is based in Brussels, Belgium.

Details
Name: Titan Cement International S.A.
TITC
Exchange: ENXTBR
Founded: 1902
€842,617,210
82,447,868
Website: http://www.titan-cement.com
Address: Titan Cement International S.A.
Rue de la Loi 23,
7th Floor,
Brussels,
Brussels, 1040,
Belgium
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ATSE TITC Share Capital The Athens Stock Exchange GR EUR 02. Jan 1992
ENXTBR TITC Share Capital Euronext Brussels BE EUR 02. Jan 1992
BATS-CHIXE TITCB Share Capital BATS 'Chi-X Europe' GB EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
5,400
Titan Cement International employees.
Industry
Construction Materials
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/04 23:29
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/03/24
Last earnings filing: 2020/03/19
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.