TCC Group Holdings (1101) Q2 2025 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2025 was NT$70.3 billion, up 9% year-over-year, with cement contributing 84% of Q2 revenue.

• Net income attributable to shareholders for the period was NT$960.7 million, down from NT$4.2 billion in the prior year, reflecting higher costs and significant foreign exchange losses.

• EPS for Q2 was NT$0.00, a 100% decline from the same period last year, while basic and diluted EPS for the six months were NT$0.25.

• Total comprehensive loss for the period was NT$20.6 billion, mainly due to large negative exchange differences on translating foreign operations.

• The group completed several acquisitions and lost control over a subsidiary (FREE2MOVE ESOLUTIONS S.P.A.) in the period.

Financial highlights

• Gross margin for Q2 was 15.1%, and for the six months was 16%, both down year-over-year.

• EBITDA margin for Q2 fell to 16.5%, a decrease of 411bps year-over-year.

• Operating income for the six months was NT$3.4 billion, down from NT$5.5 billion year-over-year; Q2 operating income dropped 74.2% year-over-year to NT$1,114M.

• Net income attributable to shareholders fell 80.9% year-over-year to NT$433M in Q2.

• For the first half, revenue grew 9.0% year-over-year, but net income dropped 73.9%.

Segment performance

• Cement accounted for 84% of Q2 revenue, energy 9%, and other segments 7%.

• Cement segment revenue was NT$57.7 billion, up from NT$49.0 billion year-over-year.

• Electricity and energy segment revenue was NT$4.3 billion, down from NT$5.1 billion year-over-year.

• Social aspect of energy transition contributed NT$5.8 billion in revenue.