ASIA CEMENT (1102) Q2 2025 earnings summary

Executive summary

• Operating revenue for the six months ended June 30, 2025 was NT$35.26 billion, nearly flat year-over-year, with net income down 33% to NT$4.49 billion compared to NT$6.73 billion in 2024.

• Gross profit margin improved to 16% from 13% year-over-year, but operating income margin rose to 12% from 8% due to lower operating costs.

• Total comprehensive income swung to a loss of NT$10.79 billion from a gain of NT$16.94 billion in 2024, mainly due to large foreign currency translation losses and negative equity method results.

Financial highlights

• Operating revenue: NT$35.26 billion, down 0.6% year-over-year.

• Net income: NT$4.49 billion, down 33% year-over-year.

• Basic EPS: NT$1.28 for the six months, down from NT$2.16 year-over-year.

• Cash and cash equivalents at period end: NT$17.27 billion, down from NT$18.03 billion a year ago.

• Total assets: NT$314.85 billion, down from NT$342.05 billion as of June 30, 2024.

Outlook and guidance

• Management highlighted ongoing risks from foreign exchange volatility, interest rate changes, and regulatory uncertainties, especially regarding carbon fees and environmental policies.

• The company is monitoring climate policy impacts and expects continued estimation uncertainty for carbon fee provisions.