Focusing on an “Enduring Commitment” to creating value for its stakeholders and to promoting sustainable development as well as combining an entrepreneurial spirit with respect for people, society and the environment, Titan Group has completed its 2013 Integrated Annual Report.
The issuance of an Integrated Annual Report – instead of two separate reports for financial and social – is in line with the highest international standards and best practices, and reflects the fact that Corporate Social Responsibility is not ancillary to the business, but forms an integral part of its overall strategic direction and operation.
Company milestones for 2013 include:
- Improvement of lost time injury frequency rate, for both employees and contractors of the group.
- Improvement of the operating results for the first time in seven years at constant exchange rates.
- Investment of more than 24 million Euro in further improvement of environmental performance.
- Reduction of the net debt by half within a period of 5 years. Increase of production capacity by approximately 20 percent, within the same time period, mainly in emerging markets.
- Ability to benefit from the recovery of the U.S. market through extensive investments made in the cement production plants and in vertically integrated activities in the southeastern states.
- Extension of participation in networks and initiatives that promote sustainable development.
- Fostering dialogue and partnership initiatives with the stakeholders, in areas such as health and safety issues.
Titan Group is cautiously optimistic on the outlook for 2014. However, given the lingering uncertainty, it continues to focus on areas it can control – ensuring that business remains financially, socially and environmentally stable and demonstrating an enduring commitment to long-term sustainable development.