Taiwan Cement Announces Third Quarter 2020 Results

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Taiwan Cement Corp.

Nov 19, 2020, 06:10 ET

TAIPEI, Nov. 19, 2020 /PRNewswire/ -- Taiwan Cement (1101 TT) announced the following consolidated financial results for the third quarter ended September 30, 2020, as compared to the corresponding period of last fiscal year:

  • Revenue was NT$29.8 billion and decreased 3%
  • Gross profit rate was 35%, a historical high, and 4% higher than the gross profit rate of 31% in 3Q19
  • Operating income was NT$9 billion and increased 12%
  • Net income was NT$7.4 billion and increased 14%
  • Basic earnings per share was NT$1.30 and increased 14%
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Taiwan Cement Chairman, Nelson Chang, stated, "Taiwan Cement is a determined pioneer that actively seeks environmental solutions. Doing well by doing good is our motto. We will use all of our strengths to participate in reducing emissions of carbon dioxide."
Taiwan Cement Chairman, Nelson Chang, stated, "Taiwan Cement is a determined pioneer that actively seeks environmental solutions. Doing well by doing good is our motto. We will use all of our strengths to participate in reducing emissions of carbon dioxide."

The year-to-date financial results from the first quarter to the end of the third quarter in 2020 are the following, as compared to the corresponding period of last fiscal year:

  • Revenue was NT$82.2 billion and decreased 6%
  • Gross profit rate was 33%, a historical high, and 4% higher than the gross profit rate of 29% in the corresponding period of last fiscal year
  • Operating income was NT$22.8 billion and increased 9%
  • Net Income was NT$18.4 billion and increased 4%
  • Basic earnings per share was NT$3.15 and increased 2%

"Fourth quarter is the traditional peak season for the cement market and we remain optimistic about our performance," said Edward Huang, Senior Vice President and Spokesperson of Taiwan Cement.

Taiwan Cement is the world's 8th largest cement company and has three core businesses: Cement and building materials, waste treatment, and energy. Taiwan Cement aims to become a green engineering company and has set 2030 carbon reduction targets of 31% in Taiwan and 20% in Mainland China.

"Taiwan Cement is a determined pioneer that actively seeks environmental solutions. Doing well by doing good is our motto. Our enterprise has a soul and we will use all of our strengths to participate in reducing emissions of carbon dioxide," said Nelson Chang, Taiwan Cement Chairman.

For detailed financial report (Chinese), please go to
https://www.taiwancement.com/en/investors1-3.html

SOURCE Taiwan Cement Corp.

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