Financial Services & Investing

Taiwan Cement Announces FY2020 Financial Results

At the same time, Taiwan Cement has been included for the first time in S&P Global’s The Sustainability Yearbook for 2021.

  Taiwan Cement (1101 TT) announced the following consolidated financial results for the year ended on December 31st, 2020, as compared to the corresponding period of last fiscal year:

  • Revenue was NT$114.36 billion
  • Gross profit margin was 32.87% compared to 29.25% in FY2019
  • Operating income was NT$31.34 billion
  • Net income was NT$25.09 billion, an increase of 3.67%
  • Basic earnings per share was NT$4.32, an increase of 2.37% compared to adjusted 2019 EPS of NT$4.22 due to stock dividends distributed in 2020
  • FY2020 cash dividend payout ratio at 81%

Edward Huang, Senior Vice President and Spokesperson, said today:

“In 2020, Taiwan Cement made achievements in many aspects. In additional to our sound financial performance, we also committed to Global Cement and Concrete Association (GCCA) Climate Ambition aspiring to deliver carbon neutral concrete to society by 2050. Even though challenges such as COVID-19, global economic volatility, and climate change remain in 2021, Taiwan Cement is well-prepared as we continue to see stable profits in the cement industry, expand our waste treatment and energy businesses, and moving toward our carbon emissions reduction targets.”

Taiwan Cement recently obtained Leadership Status in CDP’s Supplier Engagement Rating (SER). This is the first time a large-size enterprise among Taiwan’s traditional industry to be awarded with such honor. After the handover of Taiwan from Japan to the Republic of China in 1945, the Taiwan Provincial Government and Ministry of Economics Resource Committee jointly incorporated the Taiwan Cement Limited Corporation on 1 May 1946. On 1 January 1951, the company was restructured as Taiwan Cement Corporation. On 11 November 1954, the state owned company was privatized and became a publicly listed corporation.

This news was shared to Prittle Prattle News via press release.

By PR Newswire

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