Century Wind Power Reports H1 EPS of NT$9.3, Record High; Order Visibility Extends to 2029

Century Wind Power (2072-TW) has released its latest financial report, announcing that its cumulative after-tax net profit for the first half of this year reached NT$1.691 billion, representing a year-on-year increase of over 90%. Earnings per share (EPS) stood at NT$9.3, marking a historical high for the same period.

The company stated that with engineering progress proceeding as planned in the second half of the year, coupled with an increasing proportion of underwater foundation EPC (Engineering, Procurement, and Construction) projects, it remains optimistic about achieving record-high annual revenue. Furthermore, the company's order visibility now extends to 2029.

Second-quarter revenue amounted to NT$4.898 billion, up 24.1% quarter-on-quarter and 86.6% year-on-year. Gross margin was 20.6%, down 10.3 percentage points from the previous quarter and 4.5 percentage points year-on-year. Operating margin was 18.8%, down 9.5 percentage points sequentially and 1.9 percentage points annually. Net profit after tax was NT$788 million, down 12.7% from the prior quarter but up 70.8% year-on-year. EPS came in at NT$4.11, also a record high for the period.

Century Wind Power attributed the strong Q2 revenue growth to the rising share of underwater foundation EPC projects and timely revenue recognition aligned with project progress. Regarding gross margin, the company explained that EPC projects cover broader scopes and involve higher contract values, which diluted overall gross profit margins in the second quarter.

Cumulative revenue for the first half of the year reached NT$8.846 billion, up 63.3% year-on-year. Gross margin improved to 25.2%, up 1.8 percentage points from the same period last year. Operating margin rose to 23.1%, up 3.3 percentage points year-on-year. After-tax net profit totaled NT$1.692 billion, up 91% year-on-year, with EPS at NT$9.3—setting a new historical high for the period.

Additionally, Century Wind Power’s board approved in June the issuance of new shares to acquire 100% equity of Century Huaxin (7752-TW), planning to rename it 'Century Energy Equipment.' A special shareholders’ meeting will be held on August 12 to finalize the resolution. Following the merger, the company aims to leverage upstream-downstream integration to fully utilize its dual production bases at Taipei Port and Taichung Port. Synergies are expected in key component control, joint procurement of raw materials, quality assurance, and engineering management.

Looking ahead, Century Wind Power outlined three strategic development directions: deepening its presence in the Taiwan market, expanding overseas business opportunities, and advancing into comprehensive energy solutions.

Moreover, Century Wind Power has initiated its first 'interim dividend.' The board approved the distribution of profits for the first half, resolving to pay a cash dividend of NT$6 per share, resulting in a cash payout ratio of approximately 68%.