FY 2024 Results
Mar. 2025
Agenda
- Financials
- Market Fundamental
3 Industry Outlook
4 Plant Operation
5 Expansion
2
Financial Status
(Unit: NTD Million)
Sales Breakdown By Segment
4Q24 | 3Q24 | QoQ | FY2024 | YoY | 7.0% | 0.5% | ||||||||||||
18.1% | ||||||||||||||||||
74.4% | ||||||||||||||||||
Revenues | 148,820 | 173,190 | -14.1% | 663,823 | -6.8% | |||||||||||||
Refinery | Olefin | Utility | Others | |||||||||||||||
QoQ | ||||||||||||||||||
Operating | ||||||||||||||||||
(266) | (4,763) | 94.4% | (651) | -104.2% | Refinery 18.2% | |||||||||||||
Profit | ||||||||||||||||||
Olefin | 2.8 % | |||||||||||||||||
Net Income | 1,339 | (3,275) | 140.9% | 5,811 | -73.4% | |||||||||||||
Utilities 7.2% | ||||||||||||||||||
EPS | 0.14 | (0.32) | 0.46 | 0.63 | (1.67) | |||||||||||||
3
Market Fundamentals
Dubai Crude vs. Product Differentials
(US$/BBL)
Source: Reuters, ICIS,IHS, company data
FPCC vs. Singapore complex margin
50
45
40
35
30
25
20
15
10
5
0 -5 -10 -15 -20 -25
Jet Fuel/Kero | Diesel |
Gasoline | Naphtha-MOPJ |
Fuel Oil | Base Oil 150N |
(US$/BBL) | FPCC Export Raw Material Margin |
18 | Singapore Complex Margin |
15 | 4Q $9.6 |
12 | |
9 | |
6 | |
3 | |
0 |
FPCC's Olefin Spread
(US$/KT)
1,000 Ethylene Propylene Butadiene
800
600
400
200
0 4
Industry Outlook- Refinery
2024/2025 Global Capacity Additions
Unit: KB/D
Source: IEA, PIRA, company research
Europe &
Russia
-337
Asia 791
Middle
East
Americas780
101
Africa
740
China | Japan |
-220 | |
560 | |
others
India 100 351
(KB/D) | 2024 | 2025 | |
Capacity additions | 2,355 | -280 | |
Oil Demand Growth | 860 | 1,110 | 5 |
Industry Outlook -Olefin
2024/2025 Global Ethylene Capacity Additions
Source: CMA
(KTA)
12,000 | ||||||
10,000 | ||||||
8,000 | ||||||
6,000 | ||||||
4,124 | 9,731 | |||||
4,000 | ||||||
1,000 | ||||||
2,000 | ||||||
3,124 | ||||||
0 | ||||||
2024 | 2025 |
Asia Capacity Additions
(KTA) | 9,731 |
10,000 | ||||||||||||||
504 | ||||||||||||||
8,000 | 183 | |||||||||||||
6,000 | ||||||||||||||
3,124 | 9,044 | |||||||||||||
4,000 | ||||||||||||||
598 | ||||||||||||||
2,000 | ||||||||||||||
1,000 | ||||||||||||||
17 | ||||||||||||||
0 | 1,509 | |||||||||||||
2024 | 2025 | |||||||||||||
China | SouthKorea | Vietnam | India | Indonesia | ||||||||||
Asia | Middle East | 6 | |
Utilization Rate | Plant Operation | |||||||
100% | 89% | |||||||
90% | 81% | 82% | ||||||
78% | 76% | 76% | ||||||
80% | 67% | 75% | 71% | |||||
70% | 63% | 57% | ||||||
60% | 57% | 55% | ||||||
53% | 47% | 53% | ||||||
50% | ||||||||
40% | 1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 | 2Q24 | 3Q24 | 4Q24 |
Schedule Maintenance | Refinery | Olefins | |||||||||||||||||||||||||||
2024 1H | 2024 2H | ||||||||||||||||||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||||||||||||||||||
CDU #1 (180K bpd) | |||||||||||||||||||||||||||||
CDU #2 (180K bpd) | |||||||||||||||||||||||||||||
CDU #3 (180K bpd) | |||||||||||||||||||||||||||||
RDS #1 (80.5K bpd) | |||||||||||||||||||||||||||||
RDS #2 (80.5K bpd) | |||||||||||||||||||||||||||||
RCC #1 (84K bpd) | |||||||||||||||||||||||||||||
RCC #2 (84K bpd) | |||||||||||||||||||||||||||||
Base Oil (14 k bpd) | |||||||||||||||||||||||||||||
Olefin #1 (0.7mta) | |||||||||||||||||||||||||||||
Olefin #2 (1.035mta) | |||||||||||||||||||||||||||||
Olefin #3 (1.2mta) | |||||||||||||||||||||||||||||
planned | 7 | ||||||||||||||||||||||||||||
Disclaim er
This document has been prepared by Formosa Petrochemical Corporation ("FPCC" or the "Company") solely for meetings with potential investors
The information contained in this document has not been independently verified. No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. None of the Company nor any of its respective affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document
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Formosa Petrochemical Corporation published this content on March 07, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on March 07, 2025 at 01:35:06.961.
