TITAN S A (TTCIF) Q2 2026 Earnings Call Transcript

TITAN S A (TTCIF) Q2 2026 Earnings Call July 30, 2026 9:00 AM EDT Company Participants Marcel Cobuz - Executive Director John Ioannou - Group Chief Financial Officer Michael Colakides - MD & Executive Director Conference Call Participants Ephrem Ravi - Citigroup Inc., Research Division Wim Hoste - KBC Securities NV, Research Division Iakovos Kourtesis - Piraeus Securities S.A., Research Division Presentation Operator Ladies and gentlemen, thank you for standing by. I am Maria, your Chorus Call operator. Welcome, and thank you for joining the Titan Group conference call and live webcast to present and discuss the first half 2026 results. Please note, this call and presentation is intended for analysts and investors only. The conference is being recorded. At this time, I would like to turn the conference over to Mr. Marcel Cobuz, Chair of the Group Executive Committee; and Mr. John Ioannou, Group CFO. Mr. Cobuz, you may now proceed. Marcel Cobuz Executive Director Thank you. Hello, everyone. Good to have you all here. I'm joined by John, our Group CFO; and by Spyros Kamizoulis, our Head of Investor Relations. We are reporting a very good set of results today, and I would like once again to thank all our teams across all our markets for the strong contribution, which is marked by strong sales performance, continued margin expansion and above all, a very accelerated integration of the recently made acquisitions. Sales were up by 6.9%, thanks to the overall increased volumes and improved pricing in most of our markets. Strong operational performance, cost-saving initiatives, and John will go more into the details, which have offset higher energy costs and allowed for 40 basis points margin expansion. And I think we will spend a bit of time in our Project Prime, which we announced at the last conference call, which is impacting positively our financials in