TCC Group Holdings (1101) Q4 2024 earnings summary

Executive summary

• Consolidated revenue reached NT$154.6 billion in 2024, up 41% year-over-year, with net income of NT$15.6 billion, a 56% increase from 2023.

• Major acquisitions in 2024 included Cimpor Portugal Holdings and TCC Oyak Amsterdam Holdings, expanding the Group's cement and energy footprint in Europe and Turkey.

• The Group completed a significant organizational restructuring, gaining control over OCF and CPH, and delisted NHOA S.A. from Euronext.

Financial highlights

• Operating revenue: NT$154.6 billion in 2024 vs. NT$109.3 billion in 2023.

• Net income: NT$15.6 billion in 2024 vs. NT$10.0 billion in 2023.

• Gross profit margin improved to 21% from 19% year-over-year.

• Basic EPS: NT$1.45 in 2024, up from NT$1.06 in 2023.

• Total assets increased to NT$593.4 billion from NT$469.4 billion.

• Cash and cash equivalents at year-end: NT$77.8 billion.

Outlook and guidance

• The Group expects continued growth from recent acquisitions and expanded operations in Europe and Turkey.

• Carbon fee liabilities will be recognized in 2025 as new environmental regulations take effect.