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Provided by: Formosa Petrochemical Corp | |||||
SEQ_NO | 3 | Date of announcement | 2022/01/10 | Time of announcement | 13:35:02 |
Subject | Q4 and year of 2021 Formosa Petrochemical Corp. (FPCC) Unaudited Consolidated Income Statement Report | ||||
Date of events | 2022/01/10 | To which item it meets | paragraph 51 | ||
Statement | 1.Date of occurrence of the event:2022/01/10 2.Company name:Formosa Petrochemical Corp.(FPCC) 3.Relationship to the Company (please enter ��head office�� or ��subsidiaries��):head office 4.Reciprocal shareholding ratios:NA 5.Cause of occurrence:Q4 and year of 2021 Formosa Petrochemical Corp. (FPCC) Unaudited Consolidated Income Statement Report 6.Countermeasures:None 7.Any other matters that need to be specified: 1.Q4 2021 v. Q3 2021 Unaudited Consolidated Income Statement Comparison: Consolidated Operating Revenue Comparison a.The unaudited consolidated operating revenue in Q4 2021 was NT$180.8 billion compared with NT$164.0 billion in Q3 2021, an increase of 10.2% totaled NT$16.8 billion. There was an increase of NT$3.2 billion and NT$13.6 billion in sales volume and sales price respectively therefrom. b.Operating revenue for refining business had increased by 9.7% comparing Q3 2021 resulting from the rising crude oil price and the expanding spread of petroleum products. c.Operating revenue for naphtha cracking business had increased by 9.2% comparing Q3 2021 resulting from higher average product price and sales volume. d.Operating revenue for utilities business had increased by 9.8% comparing Q3 2021 resulting from the raising steam price in Q4 2021. Consolidated Operating Income Comparison a.The unaudited consolidated income before tax in Q4 2021 was NT$9.3 billion compared with NT$12.4 billion in Q3 2021, a decrease of 25.1% totaled NT$3.1 billion. b.The unaudited consolidated net income in Q4 2021 was NT$7.6 billion compared with NT$10.3 billion in Q3 2021, a decrease of 26.4% totaled NT$2.7 billion; EPS was NT$0.79 in Q4 2021. c.The operating income had decreased by NT$1.1 billion from Q3 2021 due to: In refining business, operating income had increased because of higher petroleum product spread. In naphtha cracking business, operating income had decreased because of lower product spread. In utilities business, operating income had decreased because of higher coal cost. IFRSs have evaluated inventories at Q4 2021 and recognized NT$291 million loss in inventories, decreased by NT$216 million compared with Q3 2021. d.Non-operating income had decreased by NT$2.0 billion compared with Q3 2021 because of unfavorable impacts of NT$1.5 billion in cash dividend, NT$339 million in investment income, and NT$276 million in currency exchange. 2.2021 v. 2021 Unaudited Consolidated Income Statement Comparison: Consolidated Operating Revenue Comparison a.The unaudited consolidated operating revenue in 2021 was NT$620.1 billion compared with NT$415.3 billion in 2020, an increase of 49.3% totaled NT$204.8 billion. There was an increase of NT$33.8 billion in sales volume and NT$171.0 billion in sales price therefrom. b.Operating revenue for refining business had increased by 52.6% because the average petroleum sales price had risen US$28.4 per barrel compared to 2020. c.Operating revenue for naphtha cracking business had increased by 55.7% resulting from higher utilization rate and higher average product price. d.Operating revenue for utilities business had increased by 16.0% resulting from fewer scheduled maintenance days, higher electricity price and higher steam price. Consolidated Operating Income Comparison a.The unaudited consolidated income before tax in 2021 was NT$60.5 billion compared with NT$8.7 billion in 2020, an increase of NT$51.8 billion. b.The unaudited consolidated net income in 2021 was NT$49.3 billion compared with NT$7.3 billion in 2020, an increase of NT$42.0 billion; EPS was NT$5.18 in 2021. c.The operating income had increased by NT$52.4 billion due to: In refining business, operating income had increased because of inventory gains caused by the rebound of crude oil price and higher product spread. In naphtha cracking business, operating income had increased because of inventory gains caused by the rising naphtha price. In utilities business, operating income had decreased because of higher coal cost. IFRSs have evaluated inventories at 2021 and recognized NT$305 million loss in inventories, decreased by NT$587 million compared with 2020. d.Non-operating income had decreased by NT$651 million compared with 2020 because of unfavorable impacts of NT$1.0 billion in investment income and NT$349 million in cash dividend, and a favorable impact of NT$729 million in currency exchange. |
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Formosa Petrochemical Corporation published this content on 10 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 January 2022 05:47:09 UTC.