Taiwan Cement Corporation (TCC) announced today that its consolidated revenue for May reached NT$13.86 billion, marking a new monthly high since the company’s listing. This represents a substantial annual increase of 44.44%, the highest growth rate since 2019. The cumulative consolidated revenue for the first five months of this year amounted to NT$51.2 billion, reflecting an annual increase of 13.6%. The significant revenue boost is primarily attributed to TCC’s expanded holdings in the Tupu Cement Plant and its integration into the financial report, which has considerably enhanced the company’s revenue streams.
At a recent shareholder meeting, TCC Chairman An Ping Chang outlined the company’s future growth strategy, emphasizing the development of “four legs” to support its operations. These include the international expansion into Turkey, Europe, and Africa, which has established a stable third-party revenue stream. TCC continues to develop its presence in the Taiwan and China cement markets, while also focusing on the low-carbon cement markets across Europe, Asia, and Africa.
The integration of OYAK and Cimpor into TCC’s financial report on March 6 has been a key factor in the company’s recent financial success. In just three months, this merger has contributed over 10 billion yuan to TCC’s cumulative revenue. An Ping Chang expressed optimism about the cement markets in Portugal and Africa, highlighting that low-carbon building materials will be a major competitive edge for TCC in the European market.
TCC’s strategic investments in Portugal and Africa are expected to drive further growth. The company’s retrospective consolidated statements indicate that TCC’s consolidated revenue will approach 160 billion yuan in 2023. The proportion of revenue from cross-strait cement operations is projected to decrease to 43%, while Portugal’s cement contribution will rise to 31%. Additionally, the energy and power sector will account for 24% of the revenue. TCC’s new energy business is steadily growing, with notable increases in green energy, energy storage, and power trading revenues.
As TCC continues to implement its strategic expansions and investments, the company’s robust financial performance underscores its position as a leader in the cement industry and its commitment to sustainable growth.
