TAIPEI, May 18, 2021 /PRNewswire/ -- Taiwan Cement Corp.
("TCC") announced first quarter 2021 consolidated financial
report.
- Revenue was NT$22.037 billion,
11.3% YoY growth
- Net income attributable to shareholders of the corporation was
NT$3.319 billion, 10.6% YoY growth,
benefitted from profit growth in the cement businesses in
Taiwan and Europe.
- Basic EPS was NT$0.57, 9.6% YoY
growth
Strong Demand in Cement Markets
The overall cement business contribution continued to grow in
first-quarter 2021. Despite weak sales prices in the Mainland China
cement businesses in the first quarter of 2021, the sales prices
have been increasing steadily starting in April, pushing gross
margin to rebound back to the normal second-quarter level. In
Taiwan cement and RMC market, due to strong infrastructure and
property demand, gross margin grew to 21.5% in first-quarter 2021
compared to 15.3% in first-quarter 2020. Overseas cement businesses
have been showing continuous growth as Turkey cement market saw sales volume grew by
30% YoY in 2020 while cement price showed 25% YoY growth.
Portugal cement market experienced
12% YoY growth in sales volume in 2020 while cement price remains
higher than most markets in the world.
Diversification and Internationalization of our Power
Business
TCC has been actively developing our renewable energy business
such as wind power, solar, geothermal and ocean thermal energy
conversion (OTEC) while expanding our energy storage, smart grid
(microgrid), and high-end battery manufacturing businesses that
aims to help reduce carbon and generate healthy profits.
TCC announced in March 2021 to
invest up to NT$10 billion for
building a new 1.8GWh super battery plant. This will be the largest
battery plant in Taiwan. In
April 2021, TCC's subsidiaries, TCC
Green Energy and E-Moli, jointly completed and activated
Taiwan's first automatic frequency
control system (AFC) with energy storage system (ESS) installation
capacity of 5MW. This is Taiwan's
first large-size energy storage project. Connected to the grid, AFC
helps the state-owned power provider, Taiwan Power, to expand its
ESS power auxiliary services to continue providing stable energy
supply.
In addition, TCC announced in the same month to acquire 60.48%
of common shares of Italy-based,
France-listed energy storage and
electric vehicle (EV) charging infrastructure provider, ENGIE Eps,
and become the largest shareholder of the company. The cooperation
with ENGIE Eps can help TCC to become a comprehensive storage
solution provider and enter the global markets for EV fast
chargers, smart grid (microgrid), and hydrogen.
Waste Treatment and Carbon Reduction
TCC uses industrial and toxic wastes for alternative fuel and
material. In 2020, the total alternative fuel, material, clinker
and cement used in TCC's Greater
China businesses reached over 9 million tons, equivalent to
reducing 6.2 million tons of carbon emissions.
Nelson Chang, TCC Chairman,
stated, "Climate change and waste treatment are the two major
issues faced by modern society today. In particular, not only do
companies need to rapidly reduce a significant amount of pollution,
wastes, and carbon emissions, but also need to actively help the
Earth to repair the damages on the environment caused by humans in
the past hundreds or more years." Chairman Chang believes renewable
energy is the only choice to maintain economic growth in the future
because if carbon emissions continue to rise, climate change will
produce enormous disasters, therefore, carbon reduction is the most
important topic. To reduce carbon emissions, using alternative fuel
and material for cement production, adopting renewable energy, and
expanding energy storage usage are crucial and TCC aims to play our
role in helping society achieving the goal of a low carbon
environment.
Taiwan Cement Corp.:
https://www.taiwancement.com/en/index.html