ASIA CEMENT (1102) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2024 was NT$55.44 billion, down 8% year-over-year, with net income at NT$8.59 billion, a 12% decrease from the prior year.

• Gross margin declined to 13% from 14% year-over-year, reflecting higher operating costs and lower sales volumes.

• Earnings per share for the nine-month period were NT$2.72, compared to NT$2.88 in the same period last year.

Financial highlights

• Operating income for the nine months was NT$4.77 billion, down from NT$5.99 billion year-over-year.

• Total comprehensive income attributable to owners was NT$14.71 billion, compared to NT$16.40 billion in the prior year.

• Cash and cash equivalents at period end were NT$15.15 billion, a significant decrease from NT$38.05 billion at September 30, 2023.

• Net cash generated from operating activities was NT$19.63 billion, while net cash used in investing and financing activities totaled NT$-14.10 billion and NT$-24.89 billion, respectively.

Outlook and guidance

• The company expects to be subject to carbon fees starting January 1, 2025, with provisions to be recognized based on actual emissions.

• Management continues to monitor the impact of climate policy, interest rate fluctuations, and market volatility on future performance.