TCC Group Holdings (1101) Q3 2025 earnings summary

Executive summary

• Achieved global scale with operations across Asia, Europe, Africa, and the Americas, becoming the third largest global cement player.

• Revenue for the nine months ended September 30, 2025, was NT$109.4 billion, up 3.6% year-over-year, driven by growth in cement and energy segments.

• 2025 marked by significant operational challenges, including a major fire at a subsidiary resulting in NT$16.2 billion in disaster losses, natural disasters, and sharp USD depreciation, but profitability rebounded in Q3.

• Strategic focus on decarbonization, digitalization, and expansion in EV charging and energy storage markets.

• Net loss for the nine months was NT$10.3 billion, compared to net income of NT$10.4 billion in the prior year, mainly due to disaster losses and lower operating profit.

Financial highlights

• 2025 Q3 saw a rebound in profitability: operating profit and gross margin improved sequentially.

• 2025 9M net asset value reached NT$281B; net leverage ratio at 58% as of Sep 30, 2025.

• Gross profit margin for the nine months was 18%, down from 20% year-over-year.

• Overseas cement operations (OYAK Cimento & Cimpor) delivered strong margins: 25-40% gross, 20-25% operating.

• Atlante EV charging network revenue up 129% YoY, gross margin up 58% for 2025 9M.

Outlook and guidance

• Supply-side reforms in Mainland China expected to improve margins and profitability despite weak demand.

• Continued expansion in EV charging and energy storage, leveraging digital platforms and strategic partnerships.

• Decarbonization targets validated by SBTi, aiming for net-zero emissions by 2050.

• Management continues to assess the impact of new IFRS standards effective in 2026 and 2027.

• The company is evaluating the financial impact of the disaster and expects insurance recoveries, but the final amount is uncertain.