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CSC Consolidated Preliminary Result
May 2024
Unit: thousands of NT$
Item Accumulated, as of May 2024 Accumulated, the same period of previous year
Consolidated Operating Revenues 158,369,604 156,486,011
Consolidated Operating Profit 1,704,111 1,570,248
Consolidated Profit Before Income Tax 2,817,174 1,718,433
Notes:
1.The preliminary accumulated consolidated operating revenues as of May 2024 totaled NT$ 158,369,604 thousand. The preliminary accumulated consolidated operating profit totaled NT$ 1,704,111 thousand. The preliminary accumulated consolidated profit before income tax totaled NT$ 2,817,174 thousand.
2.Information for the Company's carbon steel sales volume (non-consolidated basis) is as follows:
The sales volume of carbon steel in May 2024 totaled 657,357 tons. Accumulated sales volume of carbon steel as of May 2024 totaled 3,317,753 tons.
3.Accumulated performance summary:
Accumulated consolidated profit before income tax as of May 2024 increased on a YOY basis, mainly due to the increase in operating revenues and operating profit resulting from the increase in ASP and unit gross profit, and the recognition of gain on construction contract change. Additionally, the increase in dividends from mining investments and foreign exchange gains resulted in the increase in non-operating income.
Global trade is recovering steadily and economic momentum continues to heat up. Research institutions such as the IMF have raised their estimates of global economic growth this year. Benefiting from the booming development of artificial intelligence and high-performance computing, Taiwan has strong export momentum. The DGBAS has thus revised Taiwan's GDP growth rate this year to 3.94%, a level that might hit a record high in three years. In terms of steel demand, the manufacturing momentum in Europe and the U.S. is accelerating. China's exports are strong and factory orders are picking up. The IMF has revised China's GDP growth rate up by 0.4% to 5% this year. It is expected that the impact of destocking adjustments on the real estate market will gradually fade. Taiwan's domestic car sales in the first five months of this year reached 191,000 units, maintaining the same high level as the same period last year. The outlook for global steel consumption is moderately upward. Worldsteel indicates that the high interest rate will end and the manufacturing industry will show a recovery trend. It is estimated that global steel demand will grow by 1.7% in 2024, an increase of approximately 30.1 million tons compared with 2023. Steel demand is expected to rebound and return to the normal track of growth.
Comparison between the accumulated number as of this month and the same period of previous year
Unit: thousands of NT$
Item Accumulated, as of May 2024 Accumulated, the same period of previous year Difference Difference in
percentage (%)
Consolidated Operating Revenues 158,369,604 156,486,011 1,883,593 1
Consolidated Operating Profit 1,704,111 1,570,248 133,863 9
Consolidated Profit Before Income Tax 2,817,174 1,718,433 1,098,741 64
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Consolidated Sales Revenue Breakdown
June, 2024
Unit:NTD Thousands
 
Item
Amount
June, 2024
Accumulated of 2024
1
Steel products
22,940,018
147,283,094
2
Non-steel industry materials
3,247,255
18,298,971
3
Construction, Trading, and others
3,769,253
22,744,065
Less
Sales returns and allowances
-
-
Total
29,956,526
188,326,130