Taiwan Cement Corp. (TCC) posted a 19.5% increase in consolidated revenue for the first half of the year, reaching NT$64.51 billion (US$2.04 billion). Despite this growth, net profit after tax fell by 14.7% to NT$4.22 billion (US$133.5 million), with a net profit per share of NT$0.51 (US$0.016). The second quarter alone saw a net profit of NT$2.27 billion (US$71.8 million).
The company cited several challenges for the profit decline. Oversupply in China’s cement market weighed on margins, while TCC’s subsidiary, Heping Electric Power, faced operational disruptions due to severe earthquakes in Taiwan. These natural disasters, coupled with planned maintenance, significantly reduced the power plant’s operating days, leading to lower contributions from the energy sector.
However, TCC’s strategic expansion into the low-carbon cement market and increased stakes in Turkey’s OYAK and Portugal’s Cimpor Cement helped bolster revenue, mitigating some of the negative impacts. Additionally, the company’s energy storage business showed robust growth, reflecting the successful integration of the European energy storage firm NHOA, acquired in 2021.
Looking forward, TCC expects a recovery in its Taiwan operations by year-end and continued expansion in its global energy storage ventures, with a notable presence in Southern Europe.
