TITAN Group publishes its 2019 Integrated Annual Report, which outlines the Group’s financial, environmental and social performance.
In 2019, TITAN reaffirmed its commitment to sustainable business growth, combining entrepreneurship and operational excellence with respect for people, society and the environment. The Group delivered another year of solid financial performance, while making good progress on its 2020 environmental and social targets, in alignment with the issues material to its stakeholders and the UN Sustainable Development Goals. TITAN Group demonstrated strength through 2019, sustaining a growth performance despite challenges in the Eastern Mediterranean market. Results were led for another year by the US operations.
Responding to the challenge of climate change and the opportunities of the digital revolution, the Group continued investing in research, development and innovation, with primary focus on areas related to the long-term sustainability of the business, and in particular climate change mitigation; application of the circular economy model; and digital transformation.
At the time of writing of this report, the coronavirus outlook had created significant changes to our lives and the macroeconomic outlook. TITAN Group has mobilized, taking measures to protect its people, contribute to the efforts to reduce the health impact on society and to maintain operations continuity.An assessment of the impact of Covid-19 is included in the Management report on p. 122 of the 2019 Integrated Annual Report.
The Report is available at www.titan-cement.com/integratedannualreport2019
Reporting standards
The 2019 TITAN Cement Group Integrated Annual Report (IAR 2019) has been prepared in accordance with the Belgian Law, the 2020 Belgian Code on Corporate Governance, the International Financial Reporting Standards (IFRS) and the International Integrated Reporting Council (IIRC) principles for integrated reporting.
Other reporting frameworks followed by TITAN Group in the development and presentation of the IAR 2019 are the UN Global Compact Communication on Progress Guidelines, the Charter and the Global Cement and Concrete Association Guidelines and the UN SDGs 2030 as presented in the Non-financial review.
The separate and consolidated financial statements of the IAR 2019 were audited by PWC. The non-financial performance overview and statements were independently verified at a reasonable level by ERM Certification and Verification Services (ERM CVS), in accordance with the guidelines and protocols of the Global Cement and Concrete Association (GCCA), as well as the “advanced” level criteria for Communication on Progress of the United Nations’ Global Compact (UNGC).
