Taiwan Cement reports company revenue of TWD114.36bn in FY20

Taiwan Cement has announced its consolidated financial results for the year ended 31December 2020, as compared to the corresponding period of last fiscal year.

 Company revenue amounted to TWD114.36bn (US$4.02bn) and the gross profit margin totalled 32.9 per cent compared to 29.3 per cent in FY19. Operating income was TWD31.34bn and net income was TWD25.09bn, an increase of 3.7 per cent.

Edward Huang, senior vice president, said: "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."