ASIA CEMENT (1102) Q2 2026 earnings summary

Executive summary

• H1 2026 revenue was NT$32.66b, down 7% year-over-year; net income rose 57% to NT$7.03b, supported by non-operating gains and higher associate earnings.

• Q2 revenue was NT$17.83b versus NT$18.67b year-over-year, while net income rose to NT$5.24b from NT$3.10b.

• Weak cement demand in China and Taiwan weighed on results, while investment gains and income from associates provided support.

Financial highlights

• H1 gross profit was NT$4.43b versus NT$5.75b year-over-year; operating income was NT$2.90b versus NT$4.19b.

• H1 other gains and losses were a net gain of NT$2.83b versus a net loss of NT$725m; FVTPL fair-value gains were NT$3.04b versus a NT$31m loss.

• Non-operating profit increased 219% year-over-year, mainly on financial-asset gains and equity income.

• H1 operating cash flow was NT$3.03b versus NT$5.37b year-over-year; free cash flow was NT$687m versus NT$3.79b.

• Income tax expense declined to NT$634m from NT$1.20b year-over-year.

Segment performance

• Cement H1 revenue was NT$21.10b versus NT$23.41b year-over-year, and segment profit was NT$1.53b versus NT$2.89b.

• Electric power and energy revenue was NT$8.27b versus NT$8.06b; segment profit rose to NT$885m from NT$782m.

• Stainless steel revenue fell to NT$1.37b from NT$1.88b, with a NT$53m segment loss versus a NT$67m loss.

• Engineering revenue was NT$1.00b versus NT$1.05b and profit was NT$42m versus NT$21m; transportation revenue rose to NT$267m from NT$187m, with profit of NT$85m versus NT$128m.

• Leasing revenue was NT$268m versus NT$255m and profit was NT$175m versus NT$170m; investment segment revenue and profit declined to NT$380m and NT$233m, respectively.