TITAN Group Single Annual Report 2017

Date: 2018-04-02

2/4/2018

TITAN Group Single Annual Report 2017 

 

The TITAN Group has published the Single Annual Report for 2017, which presents the financial results in combination with its wider social and environmental performance. In 2017, it marks the 15th year of the annual report on the key issues of our stakeholders, which covers, beyond the financial results, our impact on the environment and society.

In 2017, the Group maintained a steady, positive performance. Through our collaboration with our stakeholders, we have strengthened our commitment to a balanced, responsible and long-term sustainable development in a world of growing environmental and social tensions and rapid technological developments.

The Single Annual Report 2017 is available online at http://www.titan-cement.com/integrated_report_2017_EN.pdf

Milestones of 2017

• Record strong figures in financial results, mainly due to continued dynamic market dynamics in the US.
• Systematic reduction of borrowing costs and parallel diversification of funding sources. Issuance of a new bond loan of seven years duration of € 350 million (including the supplementary issue of January 2018) at an annual rate of 2,375%, which lengthens the time structure of the Group's debt obligations.
• Continuing investment to ensure future growth and competitiveness. In 2017, € 123 million were invested, among other things, to improve energy efficiency, increase the use of alternative fuels, reduce CO2 footprint, adopt digital initiatives and enhance innovation.
• Defining specific KPIs for our next milestone in 2020, recognizing climate change and greenhouse gas emissions as a top priority for our industry.
• Renewing our commitment as Members of the UN Global Compact (UNGC), based on our new operational model and aligning our goals with the UN's Sustainable Development Objectives, covering the years to 2030.

Standards for the Issue of the Single Annual Report 2017
The publication of the TITAN Group's Unified Report 2017 Annual Report was drafted in addition to the legal requirements at national and European level, in line with the IIRC, UK Governance Code of Conduct And the International Financial Reporting Standards (IFRS Standards).

Since 2007, the TITAN Group has committed itself to the independent evaluation and verification of its non-financial performance at a reasonable level. The Single Annual Report 2017 is verified for non-financial disclosures in accordance with the guidelines and protocols of the CSI Initiative for Sustainable Development (CSI) implemented in the World WBCSD UN Global Compact Communication on Progress' 'advanced' criteria.