Saturday 1 October 2022

Performance against Targets

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During the last ten years TITAN has been growing as a multi-regional Group of companies aligned with a clear and consistent business objective. Corporate values are shaping its corporate strategy which is focused on pursuing the business goals in a socially responsible manner.

As the Group grows, considerable effort is made to ensure that TITAN’s vision and culture is shared among all employees. This is a challenging way to embed our culture into new acquisitions and particularly in countries with diverse cultural and social characteristics while simultaneously preserving their identity.

We consider that measuring performance against set goals and objectives is a significant factor for self-improvement. Thus we engage with experts and stakeholders seeking meaningful ways to understand and record the added value created for TITAN and its stakeholders. This is a long-term, on-going and challenging process which initiates changes at all levels. Measuring performance is mostly covering «do less harm» efforts while no relevant metrics to measure appropriately «do more good» initiatives are available or widely used, yet. For this reason a more detailed focus on best practices at regional level by TITAN Group begins with this Report, aiming to present a clearer picture of efforts undertaken in order to improve both social and environmental footprints in each region.

In 2006 TITAN Group set its initial targets regarding CO2, Dust, NOx and SOx emissions as well as ISO certified sites. Targets were calculated on the basis of the equity held by TITAN Group in 2006. The year to achieve those targets was 2010.

Having achieved most of these targets by 2009, the Group CSR Committee revised Group targets and added new ones related to alternative fuel substitution rate and water consumption. The new targets were set taking into account new acquisitions, equity changes and new kiln lines that became operational in the meantime. TITAN Group is committed to achieve these by 2015, except for alternative fuels substitution rate targeted for 2017.

Accordingly, all data referring to Group performance against targets are based on the 2009 equity base.

PLANT 2006 2009
Kamari 100% 100%
Patras 100% 100%
Thessaloniki 100% 100%
Elefsina 100% 100%
Kosjeric 100% 100%
Usje 100% 100%
Zlatna Panega 100% 100%
Pennsuco 100% 100%
Roanoke 100% 100%
Alexandria 50% 100%
Beni Suef 50% 100%
Tokat - 50%
Antea - 100%

Distribution of TITAN
Group Social Product 2010

  • To employees for salaries, pensions and social benefits, including additional benefits beyond those provided by law:
    €239.1 million
  • To local and international suppliers:
    €801.8 million
  • For new investments in fixed assets:
    €87.2 million
  • Τo state and local authorities through taxation:
    €90 million
  • Return to shareholders and minorities:
    €17.2 million