Continental Holdings Corporation (TWSE: 3703) Reported 1H22 EPS of $2.65, a New High for First-half
Continental Holdings Corporation (CHC) today (Aug 2nd) reported its financial results for the first half of fiscal year 2022. CHC posted consolidated revenue of NT$18,264M, operating profit of NT$2,412M, and net profit of NT$2,180M. EPS came in at NT$2.65, reaching record high for first half of fiscal year.
CHC’s consolidated revenue for the first half of 2022 saw an increase of 52.9% 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 and public sector projects such as Taipei MRT Wanda Line CQ850A Section and Taoyuan MRT Green Line GC01 Section.
With significant increase in both revenue and gross margin compared to the same period last year, CHC’s operating profit for the first half of 2022 increased 127.3% year-over-year. Net profit gained 171.5% 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 compared to the same period last year.
CHC remained with a healthy volume level of backlog. As of June 30th, 2022, backlog for Construction Engineering Business came to NT$73.8B, translating to 4.3 times of its revenue for fiscal 2021. Revenue backlog of Real Estate Development Business summed up to NT$14.6B, equivalent to 1.8 times of its revenue for fiscal 2021. Contracts on hand for Environmental Project Development & Water Treatment Business totaled NT$37.4B and was approximately 10.6 times of its revenue for fiscal 2021.