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Press release content from PR Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from PR Newswire
Press release content from PR Newswire. The AP news staff was not involved in its creation.

Taiwan Cement Announces FY2020 Financial Results

March 22, 2021 GMT

TAIPEI, March 22, 2021 /PRNewswire/ -- Taiwan Cement (1101 TT) announced the following consolidated financial results for the year ended on December 31st, 2020, as compared to the corresponding period of last fiscal year:

  • Revenue was NT$114.36 billion
  • Gross profit margin was 32.87% compared to 29.25% in FY2019
  • Operating income was NT$31.34 billion
  • Net income was NT$25.09 billion, an increase of 3.67%
  • Basic earnings per share was NT$4.32, an increase of 2.37% compared to adjusted 2019 EPS of NT$4.22 due to stock dividends distributed in 2020
  • FY2020 cash dividend payout ratio at 81%

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Edward Huang, Senior Vice President and Spokesperson, said today:

“In 2020, Taiwan Cement made achievements in many aspects. In additional to our sound financial performance, we also committed to Global Cement and Concrete Association (GCCA) Climate Ambition aspiring to deliver carbon neutral concrete to society by 2050. Even though challenges such as COVID-19, global economic volatility, and climate change remain in 2021, Taiwan Cement is well-prepared as we continue to see stable profits in the cement industry, expand our waste treatment and energy businesses, and moving toward our carbon emissions reduction targets.”

Taiwan Cement recently obtained Leadership Status in CDP’s Supplier Engagement Rating (SER). This is the first time a large-size enterprise among Taiwan’s traditional industry to be awarded with such honor. At the same time, Taiwan Cement has been included for the first time in S&P Global’s The Sustainability Yearbook for 2021.

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SOURCE Taiwan Cement Corp.