ASIA CEMENT (1102) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was NT$76.3 billion, down 4.8% year-over-year, with net income rising 14.2% to NT$12.7 billion.

• Gross profit margin improved to 14% from 13% in 2023, and EPS increased to NT$3.86 from NT$3.28.

• Total comprehensive income surged 52% to NT$20.95 billion, driven by strong other comprehensive income.

Financial highlights

• Operating income rose 6.8% year-over-year to NT$7.96 billion.

• Non-operating income and expenses increased to NT$8.04 billion, up from NT$6.48 billion in 2023.

• Cash and cash equivalents at year-end were NT$13.26 billion, down from NT$33.23 billion.

• Total assets stood at NT$331.8 billion, with equity at NT$204.9 billion.

• Dividends per share proposed at NT$2.2 for 2024.

Outlook and guidance

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

• New and amended IFRS standards will be adopted in 2025 and 2026, with ongoing assessment of impacts.