Brisk sales from construction, development units help lift CHC consolidated net profit to NT$1.147 billion, a 5-year high

Press Release

TAIPEI, May 23 – Continental Holdings Corp. (CHC, TWSE stock symbol 3703) today announced its 2012 operational results and 2013 goals. For 2012, CHC and its subsidiaries had consolidated revenue of NT$28.497 billion and net profit NT$1.147 billion, translating into EPS of NT$1.36, of which NT$0.5 will be distributed as cash dividends.


“CHC’s 2012 consolidated revenue was a 6% increase from 2011, and net profit for 2012 was the highest in five years,” said Ken Hung, CHC chief executive officer. “Even with a tightened public construction budget for 2012 and fiercer competition in the industry, construction revenue (chiefly from Continental Engineering Corp., CEC) hit NT$25 billion, an increase of 16% from the previous year. Meanwhile, a stagnation of the property market stemming from overall macroeconomic uncertainties and the government’s credit-control measures has led to a reduction in revenue from real estate development, which nonetheless still contributed over NT$1.1 billion to the net profit. The figures reflect CHC’s effective management structure, which aims to help each member company achieve further growth.


Revenue from real estate development was chiefly contributed by Continental Development Corp.,( CDC) whose 2012 sales stood at approximately NT$3.3 billion and net profit NT$1.168 billion. A major goal for 2013 is to continuously enhance the image of CDC as an outstanding residential developmental brand. Land development strategy will primarily entail the buyout of development projects, supported with joint constructions, to boost CDC’s reserves and development of land in the short-term. CDC will also actively participate in urban renewal projects and large-scale developmental projects to increase land reserves for development in the long-term.


Construction revenue came mostly from CEC and its subsidiaries and totaled approximately NT$25.016 billion, generated mostly from bridge, MRT and other construction projects. Amid a dwindling domestic construction market and fiercer competition among peers, CEC will this year look for separately-packaged projects in addition to public construction bids, and focus on turnkey projects in the long-term. As for overseas markets, due to a gradual recovery of the global economy, CEC will concentrate not only on core markets such as India, Hong Kong, Macao and Malaysia but also on infrastructure projects in other countries in Southeast Asia.

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