Continental Holdings Corporation (TWSE: 3703) Reported 1Q22 EPS of $1.50, a New Quarterly High
Continental Holdings Corporation (CHC) today (May 3rd) reported its financial results for fiscal year 2022 first quarter. CHC posted consolidated revenue of NT$10,023M, operating profit of NT$1,405M, and net profit of NT$1,239M. EPS came in at NT$1.50, a new quarterly high.
CHC’s consolidated revenue of first quarter 2022 saw an increase of 57.8% 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. Construction Engineering Business (Continental Engineering Corporation) gained its growth mainly from private sector building construction projects and public sector projects, such as GC01 Section of Taoyuan MRT Green Line. Environmental Project Development & Water Treatment Business (HDEC Corporation) saw its increase from construction of Anping Reclaimed Water Plant and Tongluo Science Park Wastewater Treatment Plant Phase II EPC.
With significant increase in both revenue and gross margin compared to the same period last year, CHC’s operating profit for first quarter 2022 increased 118.8% year-over-year while net profit gained 157.5% year-over-year. 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 March 31st, 2022, backlog for Construction Engineering Business came to NT$69.5B, translating to 4.1 times of its revenue for fiscal 2021. Revenue backlog of Real Estate Development Business summed up to NT$16.2B, equivalent to 2.0 times of its revenue for fiscal 2021. Contracts on hand for Environmental Project Development & Water Treatment Business totaled NT$38.5B and was approximately 10.9 times of its revenue for fiscal 2021.