Group Performance by Region and Country

Annual Report 2012

The Albanian economy recorded positive GDP growth of 1.5 % in 2012. The decrease in remittances from abroad by an estimated 10%, coupled with the financial crises in Italy and Greece, both of which Albania is exposed to, led to a slowdown in growth.

Cement consumption decreased sharply due to the contraction of both residential and commercial building activity in the country. At the same time, production costs increased due to the introduction of a new carbon tax on operations and higher energy costs.

Our cement plant TITAN Antea, currently in its third year of operation, managed to partially offset the negative trends, by achieving further operational efficiency gains. Throughout the year, capacity utilization of the plant was supported by exports, which were higher than in 2011.