Asia Cement Corporation expects continued growth in 2025, driven by stable domestic operations and increasing contributions from its power generation and stainless steel businesses, even as cement demand decline in China shows signs of moderating.
The Taiwanese cement producer reported a net profit of NT$12.89 billion ($405 million) for 2024, representing an 18% year-on-year increase despite losses in the Chinese market. The company attributed this growth to steady operations in Taiwan and improved profit contributions from subsidiaries in stainless steel, Chia-Hui Power, and Ya Tung Ready-Mixed Concrete, as well as from investments in Far Eastern New Century and U-Ming Marine Transport.
Looking ahead to 2025, Asia Cement noted that domestic cement demand growth will likely slow as Taiwan’s housing market cools. However, the company expects its Ya Tung Ready-Mixed Concrete subsidiary to maintain growth. The stainless steel business is projected to increase production and sales amid a global steel market recovery.
The company’s power business should see double-digit profit growth after Chia-Hui Power Plant’s second phase expanded its power generation limit from 40% to 60% under a revised contract with Taiwan Power Company.
For the Chinese market, Asia Cement cited moderate fiscal expansion policies and increased production discipline across the industry as factors that could improve conditions, with cement demand decline potentially narrowing from 10% in 2024.
