Continental Holdings Corporation (TWSE: 3703) Reported EPS of NT$1.54 for 1-3Q of 2023
Continental Holdings Corporation (CHC) today (November 10th) reported financial results for FY2023 third quarter. For the first three quarters of 2023, the company posted consolidated revenue of NT$22,563M, operating profit of NT$1,625M, net profit of NT$1,264M, and EPS of NT$1.54.
CHC’s consolidated revenue for the first three quarters of 2023 decreased by 7.8% compared to the same period last year, primarily due to decreased revenue from newly completed projects of Real Estate Development Business (Continental Development Corporation), partially offset by the double-digit revenue growth of Construction Engineering Business (Continental Engineering Corporation) contributed by public sector projects. The gross margin was also lower than that of the same period last year, mainly due to a greater proportion of CHC’s consolidated revenue being derived from Real Estate Development Business in the same period last year. With a decrease in revenue and gross margin compared to the same period last year, CHC reported a year-over-year decrease in operating profit and net profit for the first three quarters of 2023.
All three business segments of CHC maintained a solid volume of backlog. As of September 30th, 2023, the backlog for Construction Engineering Business came to NT$73.5B, translating to 3.8 times of its revenue for fiscal 2022. Revenue backlog of Real Estate Development Business summed up to NT$12.5B, equivalent to 1.3 times of its revenue for fiscal 2022. Contracts on hand for Environmental Project Development & Water Treatment Business totaled NT$69.2B and was approximately 14.7 times of its revenue for fiscal 2022.