Continental Holdings Corporation (TWSE: 3703) Reported 1-3Q22 EPS of $3.21, a New High for 1-3Q
Continental Holdings Corporation (CHC) today (November 1st) reported financial results of its fiscal year 2022 third quarter. For first quarter through third quarter 2022, the Company posted consolidated revenue of NT$24,477M, operating profit of NT$2,910M, net profit of NT$2,645M, and EPS of NT$3.21. Net profit set new high for first quarter through third quarter of fiscal year.
CHC’s consolidated revenue for the first quarter through third quarter 2022 saw an increase of 41.5% compared to the same period last year, and all three business segments delivered year-over-year revenue growth as well. Real Estate Development Business (Continental Development Corporation) saw the most advancement, mainly from handover of Bountiful Journey. Environmental Project Development & Water Treatment Business (HDEC Corporation) also grew significantly, mainly from construction of Anping Reclaimed Water Plant and Tongluo Science Park Wastewater Treatment Plant Phase II EPC. Construction Engineering Business (Continental Engineering Corporation) saw its growth mainly from private sector building construction projects.
With significant increase in both revenue and gross margin compared to the same period last year, CHC’s operating profit for first quarter through third quarter 2022 increased 115.8% year-over-year. Net profit gained 167.0% year-over-year favored by growth in operating profit and by recognition of an one-time income tax benefit. Net profit for all three business segments also grew significantly compared to the same period last year.
CHC remained with a healthy volume level of backlog. As of September 30th, 2022, backlog for Construction Engineering Business came to NT$76.0B, translating to 4.5 times of its revenue for fiscal 2021. Revenue backlog of Real Estate Development Business summed up to NT$14.5B, equivalent to 1.8 times of its revenue for fiscal 2021. Contracts on hand for Environmental Project Development & Water Treatment Business totaled NT$36.1B and was approximately 10.2 times of its revenue for fiscal 2021.