Continental Holdings Corporation (CHC) today (November 5^th) reported financial results of its fiscal year 2021 third quarter. The Company posted consolidated revenue of NT$17,297M for January through September 2021, an increase of 18.1% compared to the same period in 2020; operating profit was NT$1,349M, a 6.9% increase from the same period last year. Net profit came in at NT$991M and declined 12.6% year over year. EPS for first quarter through third quarter 2021 was NT$1.20.

CHC’s consolidated revenue for January through September 2021 saw an increase of 18.1% compared to the same period in 2020, and all three business segments delivered year-over-year revenue growth this period as well. Construction Business (Continental Engineering Corporation) saw the most advancement, mainly from GC01 Section of Taoyuan MRT Green Line and other private sector building construction projects. Real Estate Development Business (Continental Development Corporation) saw its growth from completed projects such as 55Timeless. Environmental Project Development Business (HDEC Corporation) also grew meaningfully, mainly fueled by construction of Anping Reclaimed Water Plant and Tongluo Science Park Wastewater Treatment Plant Phase II EPC.

Boosted by increase in revenue, CHC’s gross profit and operating profit for January through September 2021 both increased compared to same period last year. Net profit for first quarter through third quarter 2021 declined compared to same period last year, mainly due to recognition of construction gross profit for La Bella Vita upon completion as well as one-time income tax benefit in 2020 and less loss carryforward available for tax deduction this year. Aforementioned tax effects resulted in a higher income tax expense this year.

CHC remained with a healthy volume level of backlog. As of September 30^th, 2021, backlog for Construction Business came to NT$63.5B, translating to 4.5 times of its revenue for fiscal 2020. Total signed contracts to close of Real Estate Development Business summed up to NT$18.0B, equivalent to 3.1 times of its revenue for fiscal 2020. Contracts on hand for Environmental Project Development Business totaled NT$39.1B and was approximately 12.6 times of its revenue for fiscal 2020.