Continental Holdings Corporation (CHC) today (May 7^th) reported financial results of its fiscal year 2021 first quarter. The Company posted consolidated revenue of NT$6,353M this quarter, an increase of 46.4% year over year; operating profit was NT$642M, a 43.4% increase from the prior year. Net profit came in at NT$481M and grew by 35.8% year over year. EPS for this quarter was NT$0.58.

Compared to fiscal year 2020 first quarter, CHC’s three business segments all increased their revenues this quarter, and Real Estate Development Business (Continental Development Corporation) and Environmental Project Development Business (HDEC Corporation) saw the most advancement. The turnover growth of Real Estate Development Business was mainly due to revenue from projects such as 55Timeless, Treasure Garden, and La Bella Vita. The construction of Linhai Wastewater Treatment and Reclaimed Water Plant BTO and Tongluo Science Park Wastewater Treatment Plant Phase II EPC fueled the growth of Environmental Project Development Business.

Net profit of three business segments all saw significant growth this quarter, compared to same period last year, setting a total growth rate of 35.8% YoY for the Company. Real Estate Development and Environmental Project Development Business were able to register growth in net profit as they scaled up revenues. Construction Business (Continental Engineering Corporation), on the other hand, benefitted most from higher gross margin contribution by civil construction projects in Taiwan.

CHC’s strategically and financially synergistic business portfolio is poised for growth. As of March 31, 2021, backlog for Construction Business came to NT$66.7B, translating to 4.7 times of its revenue for fiscal 2020. Total signed contracts to close of Real Estate Development Business summed up to NT$16.3B, equivalent to 2.8 times of its revenue for fiscal 2020. Contracts on hand for Environmental Project Development Business totaled NT$40.5B and was approximately 13.0 times of its revenue for fiscal 2020.