Integrated Annual Report 2012
Highlights 2012
In 2012, TITAN Group celebrated:
110 years from the foundation of Titan’s first plant in Elefsina
100 years on the Athens Exchange
10 years of active participation
in U.N. Global Compact
TITAN GROUP IS A MEMBER OF:
Efforts to expand collaborative action in 2012
| Rio+20 Summit (WBCSD / Global Compact Forum) |
| 1st U.N. Global Compact SEE Regional Networking Conference in Thessaloniki |
| U.N. Human Rights 2012 Summit in Geneva |
| Global Stakeholders’ consultation on WBCSD/CSI Guidelines for Quarry Rehabilitation |
| WBCSD/CSI Working Group on Supply Chain |
| CSR Europe’s Collaborative Venture for «Valuing non -financial performance» |
| 1st voluntary public-private cooperation agreement between Cement Industry in Greece and Ministry of Environment, Energy and Climate Change |
| Safety at Work Collaborative Program with BEST (Student Association) |
| Safety at Home Training and Awareness Building Program in Greece |
Based on the current business climate and in keeping with our commitment to honestly and openly communicate with our stakeholders, the Group CSR Committee approved a new plan to review existing sustainability targets and priorities moving towards 2020. In the current difficult conditions, this move is a demonstration of responsibility to all our stakeholders.
In 2012, we focused our CSR efforts primarily on:
- Empowering our people
- Integrating and continuing to upgrade our policies, systems and practices
- Continuing and expanding collaborative actions
- Promoting win-win solutions for business and society
CSR PRIORITIES 2012
DO LESS HARM
- Responsible restructuring
- Accident prevention
- Energy efficiency
DO MORE GOOD
- Collaborative actions
- Reaching out and adding value from best practice
- Volunteering
WIN - WIN
- Utilize and promote alternative energy sources
- Raise awareness and educate
- Be part of the solution
MARKET TRENDS
U.S.A.
- Optimism for U.S. market returns, residential sector in particular.
- Large operating leverage potential for TITAN’s operations.
- Strong demographic trends for the Southeast will drive demand in the longer term.
GREECE AND
WESTERN EUROPE
- Greek recession leads building activity to a collapse. Demand shrinks to a quarter of the levels recorded in 2006.
- Weak housing market and public works nearly at a standstill.
- Export volumes recover in 2012
SOUTHEASTERN
EUROPE
- Uncertainties in the Eurozone affect local economies and demand for building products.
- Sale of a minority stake of 11.5% to the International Finance Corporation, IFC (June 2012) of Group operations in F.Y.R.of Macedonia, Serbia and Kosovo.
- Acquisition of minority stakes in SharrCem cement plant in Kosovo (0.6m MT).
EASTERN
MEDITERRANEAN
- Despite social and political upheaval cement consumption in Egypt reaches new highs.
- Strong long-term fundamentals for cement demand in Egypt driven by favorable demographic profile, lack of sufficient housing and infrastructure needs.
- Demand for building materials in Turkey continues at high levels.