TCC Group Holdings (1101) Q1 2025 earnings summary

Executive summary

• Q2 FY25 revenue was NT$35.4B, down 9.3% year-over-year, with cement contributing 84% of the total.

• Q1 2025 operating revenue was NT$34,956 million, up 37% year-over-year from NT$25,545 million in Q1 2024.

• Net income for Q2 dropped 79.2% year-over-year to NT$730M, while Q1 net income attributable to shareholders was NT$527 million, down from NT$1,956 million.

• EPS for Q2 was NT$0.00, a 100% decline from the same period last year; Q1 basic and diluted EPS were NT$0.07, down from NT$0.26.

Financial highlights

• Q2 gross margin was 15.1%, down 401bps year-over-year; Q1 gross margin improved to 17% from 15%.

• EBITDA margin for Q2 was 16.5%, down 411bps year-over-year.

• Q2 operating income fell 74.2% year-over-year to NT$1,114M; Q1 operating income rose to NT$2,301 million from NT$1,200 million.

• Net income attributable to shareholders in Q2 declined 80.9% year-over-year to NT$433M.

• For the first half, revenue grew 9.0% year-over-year, but net income dropped 73.9%.

Segment performance

• Cement accounted for 84% of Q2 revenue; in Q1, cement segment revenue was NT$27,957 million, up from NT$18,424 million.

• Energy and social transition energy segments saw significant year-over-year growth in Q1.