{"id":2068,"date":"2026-05-07T13:09:00","date_gmt":"2026-05-07T11:09:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=814a293d54b338a1503563a0a35417df"},"modified":"2026-05-07T13:09:00","modified_gmt":"2026-05-07T11:09:00","slug":"titan-sa-trading-update-first-quarter-2026","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=2068","title":{"rendered":"Titan SA: Trading Update &#8211; First Quarter 2026"},"content":{"rendered":"<p>\n<b>Very strong start to the year with sustained robust profitability growth<\/b><\/p><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260507222662\/en\/2798394\/5\/TITAN_Full_color.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260507222662\/en\/2798394\/22\/TITAN_Full_color.jpg\" \/><\/a><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260507222662\/en\/2798394\/5\/TITAN_Full_color.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260507222662\/en\/2798394\/21\/TITAN_Full_color.jpg\" \/><\/a><p>BRUSSELS--(BUSINESS WIRE)--Regulatory News:<\/p><p>\nTitan SA (Euronext Brussels, Paris and Euronext Athens, \u201cTITC\u201d) announces the first quarter 2026 summary financial results.<\/p><p>\n<b>First quarter 2026 Highlights<\/b><\/p><ul class=\"bwlistdisc\">\n<li>\nA very strong start to the year, with sales up 4.7% (LfL) to \u20ac636m, adjusted for FX and scope effects (\u20ac50m), thanks to sustained volumes and improved pricing. All regions delivered improved sales performance on a like-for-like basis.<\/li>\n<li>\nEBITDA increased by 16.0% (LfL) to \u20ac138m, thanks to positive price over cost, with strong EBITDA margin expansion of 250bps, driven by operational efficiencies and continued investments. Cost optimization initiatives started to deliver tangible benefits already in 1Q26, reflecting strong execution momentum.<\/li>\n<li>\nNet profit after tax reached \u20ac64m in 1Q26 (+29% LfL), despite the impact of higher taxes and increased non-controlling interests related to Titan America.<\/li>\n<li>\nNet debt stood at \u20ac676m, with leverage at 1.1x EBITDA, following completion of recent significant acquisitions.<\/li>\n<li>\nDuring 1Q26, and in line with Titan Forward strategy the Group completed cement and grinding plant acquisitions in T\u00fcrkiye (Greater Istanbul) and France (Le Havre). The acquisition of a cement plant in the United States (Pennsylvania) was completed in 2Q26.<\/li>\n<li>\nThe proposed dividend of \u20ac1.10 per share (+10% versus 2024, excluding the ad hoc component) is payable on July 7, 2026, subject to AGM approval on May 8, 2026.<\/li>\n<li>\nTitan remains cautiously optimistic for 2026, despite ongoing uncertainties in the Middle East. For 2026, we expect stable volumes and an improved price-cost-environment leading to margin expansion. Continued investments and completed acquisitions to provide additional profitability growth, in line with TITAN Forward 2029 growth targets.<\/li>\n<\/ul><p>\n<b>TITAN Group - Review of the first quarter<\/b><\/p><p>\nIn Q1 2026, the Group made a strong start to the year, delivering year\u2011over\u2011year sales growth of 4.7%, reaching \u20ac636.1 million, with all regions contributing positively on a like\u2011for\u2011like basis. Solid volumes with improved pricing led to organic sales growth. The solid momentum observed in 2025 in Egypt and Greece continued into early 2026, while improved performance in Southeast Europe and the US -excluding the negative FX impact from the weaker US dollar- further supported year\u2011over\u2011year growth. The Group\u2019s acquisitions announced at the end of 2025 in T\u00fcrkiye and Western Europe (France) were successfully finalized and began contributing to Group results from February 2026, with full integration currently underway. Pricing remained firm in the US and the Western Balkans, while targeted price increases were implemented early in the year across Greece, Bulgaria and the Eastern Mediterranean. At Group level, cement volumes increased, supported by the additional contribution from the newly acquired operations. Aggregates volumes remained strong, benefiting from recent strategic investments in Florida as well as continued growth in Greece. Ready\u2011mix volumes were broadly stable compared to last year (like-for-like), while volumes of building blocks and ACMs (fly ash, pozzolan) increased for another consecutive quarter. Supported by a favourable price\u2011over\u2011cost dynamic and effective cost management, EBITDA increased by 12.4% year\u2011over\u2011year, or by 16% on a LfL basis, to \u20ac138 million, with additional support from the recent acquisitions in T\u00fcrkiye and France. Margins exceeded 21% in 1Q26, up 250bps year\u2011over\u2011year. The Group\u2019s self-help and cost optimization program \u201cPRIME\u201d began delivering tangible benefits, with strong execution momentum. Full-year impact is estimated at \u20ac40\u201350 million, with over 10% already realized in the first quarter. Net Profit After Tax (NPAT) amounted to \u20ac64.1 million, up 46.5% (29% LfL), despite higher income taxes in Egypt and Greece and increased non\u2011controlling interests related to Titan America.\n<br\/>At the end of March 2026, Net Debt stood at \u20ac676 million, up from \u20ac214 million at December 2025, mainly reflecting financing required for M&amp;A purposes, including the \u20ac350m bond issued in February 2026. Debt Leverage closed at 1.1x EBITDA. The increased dividend of \u20ac1.10 per share (+10% compared to last year, excl. the add-hoc component), will be paid on July 7, 2026, subject to approval by the Annual General Meeting on May 8, 2026. A new share buyback programme was launched on April 1, 2026, for an amount of up to \u20ac10 million and a duration of up to nine months. CapEx in the first quarter totaled \u20ac70 million, mainly allocated to growth investments, including capacity license extension in Egypt, initial investments in a solar plant under construction in T\u00fcrkiye, ACMs and cement storage expansions, new ready\u2011mix concrete units, as well as routine annual plant maintenance. Operating free cash flow (OFCF) for 1Q26 grew to \u20ac53 million (vs \u20ac41 million in 1Q25) on the back of an improved year-over-year EBITDA and reduced finance and tax outflows.<\/p><table cellspacing=\"0\" class=\"bwblockalignl bwtablemarginb bwwidth100\">\n<tr>\n<td class=\"bwsinglebottom bwwidth51 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n\u00a0<\/p><p class=\"bwalignl bwcellpmargin\">\n<i>In million Euro<\/i><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth1 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth12 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Q1\n<br\/>2026<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Q1\n<br\/>2025<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>YoY\n<br\/>%<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth12 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>YoY\n<br\/>LfL %<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth51 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n<b>Sales<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth1 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>636.1<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n638.4<\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-0.4%<\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n4.7%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth51 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n<b>EBITDA<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth1 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>137.8<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n122.6<\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n12.4%<\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n16.0%<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth51 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n<b>Net Profit after Taxes &amp; Minorities<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth1 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>64.1<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n43.7<\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n46.5%<\/p><\/td><td class=\"bwvertalignt bwwidth12 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth51 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignl bwcellpmargin\">\n<b>Adjusted Net Profit after Taxes &amp; Minorities<\/b><\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth1 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>62.1<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n48.1<\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth12 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n29.0%<\/p><\/td><td class=\"bwvertalignt bwpadl0 bwwidth12\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<\/table><p>\nLfL (Like-for-Like): Constant exchange rates and scope\n<br\/>Adjusted Net Profit after Taxes &amp; Minorities: Constant scope<\/p><p>\n<b>Regional review Q1 2026<\/b><\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwwidth19 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwpadl1\" colspan=\"6\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n<b><i>Sales<\/i><\/b><\/p><\/td><td class=\"bwsinglebottom bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<td class=\"bwsinglebottom bwpadl1\" colspan=\"4\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n<b><i>EBITDA<\/i><\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<i>In million Euro<\/i><\/p><\/td><td class=\"bwsinglebottom bwwidth10 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Q1\n<br\/>2026<\/b><\/p><\/td><td class=\"bwsinglebottom bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Q1\n<br\/>2025<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadl1\" colspan=\"2\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>YoY\n<br\/>%<\/i><\/b><\/p><\/td><td class=\"bwsinglebottom bwpadl1\" colspan=\"2\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>YoY\n<br\/>LfL %<\/i><\/b><\/p><\/td><td class=\"bwvertalignt bwwidth1 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"5\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwsinglebottom bwwidth10 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Q1\n<br\/>2026<\/b><\/p><\/td><td class=\"bwsinglebottom bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>Q1\n<br\/>2025<\/b><\/p><\/td><td class=\"bwsinglebottom bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>YoY\n<br\/>%<\/i><\/b><\/p><\/td><td class=\"bwsinglebottom bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>YoY\n<br\/>LfL %<\/i><\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth19 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>USA<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>342<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n373<\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwpadl1\" colspan=\"2\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>-8.3%<\/i><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwpadl1\" colspan=\"2\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>1.6%<\/i><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>67.3<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>72.9<\/i><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>-7.6%<\/i><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>1.7%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth19 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Greece &amp; W. Europe<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>142<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n125<\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwpadl1\" colspan=\"2\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>14.0%<\/i><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwpadl1\" colspan=\"2\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>7.1%<\/i><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>25.4<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>19.4<\/i><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>31.0%<\/i><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>22.2%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth19 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Southeast Europe<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>84<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n83<\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwpadl1\" colspan=\"2\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>1.4%<\/i><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwpadl1\" colspan=\"2\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>0.9%<\/i><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>23.0<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>21.6<\/i><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>6.5%<\/i><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>5.6%<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth19 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Eastern Mediterranean<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>68<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n58<\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwpadl1\" colspan=\"2\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>17.1%<\/i><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwpadl1\" colspan=\"2\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>29.3%<\/i><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>22.1<\/b><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>8.8<\/i><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>151.1%<\/i><\/p><\/td><td class=\"bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>142.9%<\/i><\/p><\/td><\/tr>\n<\/table><p>\nLfL (Like-for-Like): Constant exchange rates and scope<\/p><p>\n<b>USA<\/b><\/p><p>\nFollowing another record year, the Group\u2019s North American operations delivered improved performance in 1Q26 in U.S. dollar terms, despite a mixed market environment marked by subdued residential demand and persistent economic uncertainty. The Group maintained its market share, positioning the business well for an eventual recovery. In the Mid\u2011Atlantic region, solid performance was driven by project wins, with strong backlog visibility across infrastructure and commercial segments, including projects in New York and New Jersey. Performance was achieved despite adverse weather conditions as improved pricing for both cement and ready\u2011mix concrete remained supportive across these markets. In Florida, growth in aggregates, blocks and fly ash was partly offset by weaker demand for cement and ready\u2011mix concrete stemming from the softness of the residential sector, although cement pricing remained broadly in line with prior\u2011year levels. Overall performance reflected broader construction market trends, with stronger infrastructure and private non\u2011residential activity partially offset by softer residential demand. Against this backdrop, the Group continued to actively manage through the cycle, combining targeted cost initiatives with strategic investments to enhance efficiency, supporting resilient performance in a less favourable macroeconomic environment. In May, Titan America finalized the acquisition of Keystone cement in Pennsylvania, while a month earlier, Titan America secured Department of Transportation approvals for its next\u2011generation Type 1T cement in Florida, Virginia and North Carolina, and launched an Innovation Hub to accelerate the development and scaling of advanced materials, digital technologies and construction solutions. Overall, sales in North America increased by 2% on a like\u2011for\u2011like basis to \u20ac342 million, while EBITDA also grew 2% LfL, to \u20ac67 million.<\/p><p>\n<b>Greece &amp; W. Europe &amp; Corporate<\/b><\/p><p>\nIn Greece, the strong rebound recorded in March, following weather\u2011related disruption in the first two months of the year, underscored the healthy underlying momentum in market demand. This translated into solid volume performance, particularly in ready\u2011mix, aggregates and mortars, alongside price improvement across all product lines. The Group continued to be the supplier of choice for major projects across the country. To meet increased demand, a mobile unit was deployed to support the expansion works at the Athens International Airport. In addition, new residential development projects were secured within the Ellinikon, while works continued at the new airport in Crete, the Thessaloniki Flyover and flood\u2011protection projects in Thessaly, driving higher demand for aggregates.\n<br\/>Ahead of the start of the tourist season, investment activity in the hospitality sector accelerated, while demand also remained strong from ongoing data\u2011centre developments and cement\u2011intensive wind\u2011farm foundation works. Multi\u2011year port and logistics development projects along Attica\u2019s commercial and industrial coastline are also expected to provide a steady stream of demand over the medium term. The Group\u2019s newly acquired grinding plant in France was integrated at the beginning of February and began contributing to results. Exports from Greece to Italy performed strongly, offset by more subdued demand in the UK and France and softer exports to the US. Investments to enhance efficiency and sustainability continued, focusing primarily on increased alternative fuel utilisation and related feeding systems at the Thessaloniki and Kamari plants, alongside milling improvements, calciner filter upgrades, and expanded storage capacity for Alternative Cementitious Materials (ACMs). Sales for the region increased by 7% (LfL) to \u20ac142 million, while EBITDA reached \u20ac25.4 million, growing by 22% (LfL).<\/p><p>\n<b>Southeastern Europe<\/b><\/p><p>\nTITAN\u2019s operations in Southeastern Europe opened the year with a healthy performance, driven by improved pricing and higher volumes. In Albania, the macroeconomic environment remained supportive, with residential construction and infrastructure projects sustaining solid volume levels. Despite strong import pressure, TITAN maintained its market share through portfolio optimisation and closer customer engagement. In Kosovo, the cement market remained slightly below the prior year; however, TITAN outperformed the market, increasing volumes supported by its exposure to the buoyant residential market in Pristina. In North Macedonia, the market grew and the Group recorded higher sales, with pricing remaining at healthy levels. TITAN signed a major cement supply contract equivalent to approximately 10% of domestic sales volumes, providing a stable outlet over the medium term. In Serbia, market demand for the quarter declined versus the prior year, mainly due to very poor weather conditions in January and February. However, demand rebounded strongly in March, with TITAN outperforming the market. Demand continues to be supported by large infrastructure projects, notably EXPO 2027, the National Stadium and major infrastructure developments in Belgrade. In Bulgaria, the market remained subdued, with preliminary data indicating weaker residential activity and more cautious developer behaviour following the country\u2019s euro adoption in January. Domestic cement prices increased significantly, reflecting higher CO\u2082 costs. Sales for the region increased at \u20ac84 million, while EBITDA grew by 7% and reached \u20ac23 million.<\/p><p>\n<b>Eastern Mediterranean<\/b><\/p><p>\nThe start of the year in the Eastern Mediterranean broadly reflected trends observed in the preceding period. In Egypt, domestic demand remained positive, with cement consumption well aligned with large\u2011scale projects and residential construction activity. Improved pricing and higher domestic volumes, together with ongoing efficiency gains in fuels and logistics, supported Titan\u2019s EBITDA growth. Export momentum from Egypt moderated in March following the escalation of the conflict in the Middle East; nevertheless, the country remained a leading supplier to the Eastern Mediterranean region and neighbouring Middle Eastern markets. In T\u00fcrkiye, construction activity remained strong. Although the building season in the Marmara region, where we operate, typically gains momentum later in the spring due to weather conditions, underlying market fundamentals remained supportive, aided by the normalization of macroeconomic policy. During the period, the Group focused on the integration of the recently acquired plant of Tracim, which is progressing smoothly, with full utilisation of the newly acquired capacity expected over the year. TITAN\u2019s industry\u2011leading technical expertise is expected to deliver benefits at an early stage, including the activation of Tracim\u2019s alternative fuel utilisation capabilities and the introduction of TITAN\u2019s proprietary pozzolans into the cement mix, reducing clinker\u2011to\u2011cement ratios and generating both environmental and cost benefits. The plant is also scheduled for the rollout of the Group\u2019s real\u2011time optimisation (RTO) technology, already successfully deployed across all Group cement plants. The region delivered strong performance, with LfL sales growth of 29% to \u20ac68 million and EBITDA increasing by 151% to \u20ac22.1 million.<\/p><p>\n<b>Brazil (Joint Venture)<\/b><\/p><p>\nDomestic cement consumption in Brazil increased by 1.8% in 1Q26, while in the region where the Group operates, consumption rose by ca. 10%, outperforming all other regions. This strong performance is attributed to robust housing activity and several infrastructure projects. Building on our proven strategy, our operations in Brazil continued to prioritise margin expansion through product\u2011mix optimisation, refined geographic sales segmentation and a targeted pricing approach. As a result, sales increased by 16% and EBITDA more than doubled, with price increases reflecting disciplined execution and strong commercial performance.<\/p><p>\n<b>Outlook<\/b><\/p><p>\nThe global economy is expected to remain resilient in 2026, albeit with more moderate growth amid heightened geopolitical uncertainty. Consumption and investment should continue to support activity while energy price volatility, trade disruptions and tighter policies may weigh on momentum, resulting in uneven growth across regions.\n<br\/>In the US, economic activity is expected to continue expanding in 2026 at a modest pace. Recent movements in energy prices and potential supply chain disruptions introduce however additional uncertainty. Elevated mortgage rates are likely to continue weighing on housing affordability and residential activity, with any meaningful recovery now expected in 2027. By contrast, industrial construction is expected to remain resilient in 2026, supported by continued investment in manufacturing, energy and technology. Infrastructure also remains a key area of opportunity and, while the timing and form of any successor programme to the IIJA are still uncertain, strong bipartisan support is expected to sustain long\u2011term infrastructure investment. The acquisition of Keystone represents a key milestone in TITAN\u2019s U.S. growth strategy, expanding its local footprint into new geographies and creating meaningful operational and commercial synergies. The markets in which the Group operates continue to benefit from structural tailwinds, including infrastructure spending, manufacturing reshoring and emerging trends in resilient urbanisation and construction technology.\n<br\/>The Greek economy is expected to remain resilient in 2026, with real GDP growth of ca. 1.8%, supported by domestic demand and ongoing investment. Private consumption should remain the main growth driver, underpinned by labour\u2011market improvements, wage growth and sustained tourism income, although higher energy costs may temper momentum. Public expenditure is also expected to support activity through co\u2011funded infrastructure programmes. The outlook for the construction sector remains favourable overall. Public infrastructure is expected to be the strongest segment, driven by transport, energy networks, flood\u2011resilience, water and other RRF\u2011backed projects. Commercial construction should remain solid, supported by tourism projects, logistics facilities, modern offices and mixed\u2011use developments, while residential activity is expected to continue its selective recovery, led by renovation and urban regeneration, albeit constrained by affordability pressures.\n<br\/>The economies of Southeastern Europe are also expected to remain resilient, although growth dynamics will vary by market. Consumption is likely to remain a key pillar across the region, supported by wage growth, remittances and improving labour\u2011market conditions, albeit moderated by higher energy prices. The Western Balkans should benefit from stronger exports and sustained public infrastructure programmes, while Bulgaria\u2019s growth is expected to continue to be driven by domestic demand and EU\u2011related capital deployment. The outlook for the construction sector remains favourable overall. Public infrastructure is expected to be the most consistent growth driver across the region, supported by investment in transport, energy interconnections, water systems and EU\u2011backed resilience projects. Residential activity is expected to be strongest in Albania and Kosovo, supported by urbanisation and diaspora demand, while commercial construction should remain constructive across logistics, hospitality and office developments, particularly in capital cities and along major transport corridors.\n<br\/>In the Eastern Mediterranean, economic activity is expected to remain supportive in 2026, albeit amid a more uncertain regional backdrop. In Egypt, assuming no material geopolitical deterioration, growth should be supported by a gradual recovery in private consumption, continued inflows into selected investment projects and sustained activity in tourism and export\u2011oriented sectors, with public spending focused on infrastructure. Construction demand is therefore expected to remain supportive, led by infrastructure, energy and logistics projects. In T\u00fcrkiye, economic activity is also expected to remain supportive in 2026, subject to a stable regional environment. Growth should continue to be driven primarily by domestic demand, alongside selective strength in export\u2011oriented industries as macroeconomic stabilisation progresses. Public spending is expected to remain focused on infrastructure, reconstruction and priority development programmes, while residential demand remains mixed and commercial and industrial construction continues selectively.\n<br\/>TITAN\u2019s operating strategy remains anchored in disciplined execution. While the duration of the Middle-East conflict remains uncertain, the Group continues to closely monitor developments and stands ready to mitigate potential impacts. For 2026, we expect stable volumes, improved price-cost and margin expansion. Recently completed acquisitions are expected to provide additional growth to both revenues and profitability. Capital expenditures for 2026 are expected to be around \u20ac300 million to \u20ac350 million, with the majority of them directed to growth investments and at levels higher than those of 2025.<\/p><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl1\" colspan=\"5\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Summary of Interim Consolidated Income Statement<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"3\"><p class=\"bwcellpmargin\">\n(all amounts in Euro thousands)<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadl1\" colspan=\"3\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n<b>For the three months ended 31\/3<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2026<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2025<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nSales<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n636,072<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n638,367<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCost of sales<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-472,048<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-488,413<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Gross profit<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>164,024<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>149,954<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOther net operating income<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,193<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,344<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAdministrative and selling expenses<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-74,569<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-71,496<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Profit before impairment losses on goodwill, net finance costs and taxes<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>90,648<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>79,802<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth68 bwpadl5\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<i>Gain on net monetary position in hyperinflationary economies<\/i><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>4,451<\/i><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>1,454<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth68 bwpadl5\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<i>Finance costs\/income<\/i><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>-9,185<\/i><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>-12,699<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth68 bwpadl5\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<i>Gain\/(loss) from foreign exchange differences<\/i><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>861<\/i><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<i>-1,973<\/i><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth68 bwpadl5\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b><i>Net finance costs<\/i><\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>-3,873<\/i><\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b><i>-13,218<\/i><\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nShare of profit of associates and joint ventures<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n3,459<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n39<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Profit before taxes<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>90,234<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>66,623<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nIncome taxes<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-21,928<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n-19,957<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Profit after taxes<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>68,306<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>46,666<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b><span class=\"bwuline\">Attributable to:<\/span><\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nEquity holders of the parent<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n64,065<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n43,732<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNon-controlling interests<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n4,241<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2,934<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>68,306<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>46,666<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl1\" colspan=\"5\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Earnings before interest, taxes, depreciation, amortization and impairment (EBITDA)<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n(all amounts in Euro thousands)<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadl1\" colspan=\"3\" rowspan=\"1\"><p class=\"bwalignc bwcellpmargin\">\n<b>For the three months ended 31\/3<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2026<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2025<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Profit before impairment losses on goodwill, net finance costs and taxes<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>90,648<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>79,802<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nDepreciation and amortization<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n47,118<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n42,793<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Earnings before interest, taxes, depreciation, amortization and impairment (EBITDA)<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwrowaltcolor1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>137,766<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>122,595<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<\/table><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl1\" colspan=\"5\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Summary of Interim Consolidated Statement of Financial Position<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n(all amounts in Euro thousands)<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>31.3.2026<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>31.12.2025<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Assets<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nTangible, intangible assets and goodwill<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2,507,801<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2,031,353<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOther non-current assets<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n203,008<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n202,119<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total non-current assets<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2,710,809<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2,233,472<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nInventories<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n442,093<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n405,208<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nReceivables, prepayments and other current assets<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n489,969<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n373,786<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCash and cash equivalents<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n445,380<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n483,558<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total current assets<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>1,377,442<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>1,262,552<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total Assets<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>4,088,251<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,496,024<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Equity and Liabilities<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nEquity and reserves attributable to owners of the parent<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n2,037,771<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,954,427<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNon-controlling interests<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n140,771<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n129,311<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total equity (a)<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2,178,542<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>2,083,738<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nLong-term borrowings and lease liabilities<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n1,003,866<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n582,308<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOther non-current liabilities<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n292,573<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n271,872<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total non-current liabilities<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>1,296,439<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>854,180<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nShort-term borrowings and lease liabilities<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n117,195<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n114,781<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOther current liabilities<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n496,075<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n443,325<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total current liabilities<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>613,270<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>558,106<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total liabilities (b)<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>1,909,709<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>1,412,286<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth68 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Total Equity and Liabilities (a)+(b)<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1 bwrowaltcolor1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>4,088,251<\/b><\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwpadr0 bwpadb3 bwwidth15 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n<b>3,496,024<\/b><\/p><\/td><\/tr>\n<\/table><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth100\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>General Definitions<\/b><\/p><\/td><\/tr>\n<\/table><table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1 bwtopsingle\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Measure<\/b><\/p><\/td><td class=\"bwvertalignb bwtopsingle bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwtopsingle bwsinglebottom bwwidth44 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Definition<\/b><\/p><\/td><td class=\"bwvertalignb bwtopsingle bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwtopsingle bwsinglebottom bwwidth35 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n<b>Purpose<\/b><\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth19 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth44 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignb bwsinglebottom bwwidth35 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth19 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nCapEx<\/p><\/td><td class=\"bwvertalignt bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth44 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAcquisitions\/additions of property, plant and equipment, right of use assets, investment property and intangible assets<\/p><\/td><td class=\"bwvertalignt bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth35 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAllows management to monitor the capital expenditure<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth19 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nEBITDA<\/p><\/td><td class=\"bwvertalignt bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth44 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nProfit before impairment losses on goodwill, net finance costs and taxes plus depreciation, amortization and impairment of tangible and intangible assets and amortization of government grants<\/p><\/td><td class=\"bwvertalignt bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth35 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nProvides a measure of operating profitability that is comparable among reportable segments consistently<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth19 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nEBITDA (LfL)<\/p><\/td><td class=\"bwvertalignt bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth44 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nEBITDA adjusted for foreign exchange effects and scope changes. In 2026, scope effects include the acquisitions of Vracs de L'Estuaire (France) and Tra\u00e7im (T\u00fcrkiye). In 2025, scope effects include the sale of Adocim (T\u00fcrkiye)<\/p><\/td><td class=\"bwvertalignt bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth35 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nProvides a measure of operating profitability that is comparable among reportable segments consistently<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth19 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNet debt<\/p><\/td><td class=\"bwvertalignt bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth44 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nSum of long-term borrowings and lease liabilities, plus short-term borrowings and lease liabilities (collectively gross debt), minus cash, cash equivalents and bank term deposits<\/p><\/td><td class=\"bwvertalignt bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth35 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nAllows management to monitor the indebtedness<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth19 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNPAT<\/p><\/td><td class=\"bwvertalignt bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth44 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nProfit after tax attributable to equity holders of the parent<\/p><\/td><td class=\"bwvertalignt bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth35 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nProvides a measure of total profitability that is comparable over time<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth19 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNPAT (adjusted)<\/p><\/td><td class=\"bwvertalignt bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth44 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNPAT adjusted for scope changes. In 2026, scope effects include the acquisitions of Vracs de L'Estuaire (France) and Tra\u00e7im (T\u00fcrkiye). In 2025, scope effects include the sale of Adocim (T\u00fcrkiye)<\/p><\/td><td class=\"bwvertalignt bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth35 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nProvides a measure of total profitability that allows comparability between reporting periods<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth19 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nOperating free cash flow<\/p><\/td><td class=\"bwvertalignt bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth44 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nNet cash generated from operating activities plus interest received, minus payments of tax, interest and other related charges<\/p><\/td><td class=\"bwvertalignt bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth35 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nMeasures the capability of the Group in turning profit into cash through the management of operating cash flow and capital expenditure<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth19 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nProfit before impairment losses on goodwill, net finance costs and taxes<\/p><\/td><td class=\"bwvertalignt bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth44 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nProfit before income tax, share of gain or loss of associates and joint ventures, net finance costs and impairment losses on goodwill<\/p><\/td><td class=\"bwvertalignt bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth35 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nProvides a measure of operating profitability that is comparable over time<\/p><\/td><\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwwidth19 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nSales (LfL)<\/p><\/td><td class=\"bwvertalignt bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth44 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nSales adjusted for foreign exchange effects and scope changes. In 2026, scope effects include the acquisitions of Vracs de L'Estuaire (France) and Tra\u00e7im (T\u00fcrkiye). In 2025, scope effects include the sale of Adocim (T\u00fcrkiye)<\/p><\/td><td class=\"bwvertalignt bwwidth1 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\n\u00a0<\/p><\/td><td class=\"bwvertalignt bwsinglebottom bwwidth35 bwpadl1\" colspan=\"1\" rowspan=\"1\"><p class=\"bwcellpmargin\">\nProvides a measure of sales that allows comparability between reporting periods<\/p><\/td><\/tr>\n<\/table><br\/> <b>Contacts<\/b> <br\/><p>\n<a  href=\"mailto:media@titanmaterials.com\" rel=\"nofollow\" shape=\"rect\">media@titanmaterials.com<\/a><\/p><br\/> <a href=\"http:\/\/www.businesswire.com\/news\/home\/20260507222662\/en\/Titan-SA-Trading-Update---First-Quarter-2026\/?feedref=Zd8jjkgYuzBwDixoAdXmJgT1albrG1Eq4mAeVP39212bri8lIe-zl5tWvCOnRHW3evRMp3sIgu8q3wq1OF24lT93qbEzrwa15HGbLqMObxY5fjCLYi_If30KxIsYuhwbuLAuCkn8FS6sh-I3dfDZEg==\"> Read full story here <\/a>","protected":false},"excerpt":{"rendered":"<p>Very strong start to the year with sustained robust profitability growthBRUSSELS&#8211;(BUSINESS WIRE)&#8211;Regulatory News:<br \/>\nTitan SA (Euronext Brussels, Paris and Euronext Athens, \u201cTITC\u201d) announces the first quarter 2026 summary financial results.<br \/>\nFirst quart&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2068","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/2068","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2068"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/2068\/revisions"}],"predecessor-version":[{"id":2069,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/2068\/revisions\/2069"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}