FORMOSA PETROCHEMICAL CORPORATION FY 2023 Results
Mar. 2024
Agenda
- Financials
- Market Fundamental
3 Industry Outlook
4 Plant Operation
5 Expansion
2
Financial Status
(Unit: NTD Million)
Sales Breakdown By Segment
4Q23 3Q23 QoQ FY2023 YoY
Revenues 175,878 192,658 -8.7% 712,576 -16.0%
16.0%
6.2% 0.4%
77.4%
Operating | (467) | 18,055 | -102.6% | 15,405 | 184.2% |
Profit | |||||
Net Income | 1,456 | 17,154 | -91.5% | 21,876 | 51.9% |
EPS | 0.15 | 1.81 | -91.7% | 2.30 | 0.79 |
Refinery Olefin Utility Others
QoQ
Refinery 10.4%
Olefin 1.7%
Utilities 9.7 %
3
Market Fundamentals
Dubai Crude vs. Product Differentials
Source: Reuters, ICIS,IHS, company data
(US$/BBL) | ||
80 | Jet Fuel/Kero | Diesel |
75 | ||
70 | Gasoline | Naphtha-MOPJ |
65 | Fuel Oil | Base Oil 150N |
60 | ||
55 | ||
50 | ||
45 | ||
40 | ||
35 | ||
30 | ||
25 | ||
20 | ||
15 | ||
10 | ||
5 | ||
0 | ||
-5 | ||
-10 | ||
-15 | ||
-20 | ||
-25 | ||
-30 | ||
-35 |
FPCC vs. Singapore complex margin
(US$/BBL) | FPCC Export Raw Material Margin |
40 | Singapore Complex Margin |
35 | 4Q $9.3 |
30 | |
25 | |
20 | |
15 | |
10 | |
5 | |
0 |
FPCC's Olefin Spread
(US$/KT)
Ethylene | Propylene | Butadiene |
500 | ||
450 | ||
400 | ||
350 | ||
300 | ||
250 | ||
200 | ||
150 | ||
100 | ||
50 | ||
0 | 4 | |
Industry Outlook - Refinery
2023/2024 Global Capacity Additions
Unit: KB/D
Source: IEA, PIRA, company research
Europe &
Russia
160
Asia 557
Middle
East
Americas1,121
368
Africa
615
China | Japan |
-322 | |
440 | |
others
India 209 230
(KB/D) | 2023 | 2024 |
Capacity additions | 1,778 | 1,043 |
Oil Demand Growth | 2,300 | 1,200 |
5
Industry Outlook -Olefin
2023/2024 Global Ethylene Capacity Additions
Asia Capacity Additions
Source: CMA
(KTA)
(KTA)
12,000 | ||||||||
9,919 | ||||||||
10,000 | ||||||||
192 | ||||||||
8,000 | 2,452 | |||||||
5,306 | ||||||||
6,000 | ||||||||
1,000 | ||||||||
4,000 | ||||||||
7,275 | ||||||||
2,000 | 4,306 | |||||||
0 | ||||||||
2023 | 2024 |
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
7,275
602
334
4,306
598
6,339666
3,042
20232024
China Vietnam India
Asia | Americas | Middle East | Others | 6 | |||
Utilization Rate | Plant Operation | |||||||
110% | ||||||||
100% | 94% | 91% | 89% | |||||
90% | 85% | 81% | 82% | |||||
80% | 84% | 72% | 67% | 75% | ||||
70% | 63% | |||||||
70% | 57% | 61% | ||||||
60% | 57% | |||||||
55% | ||||||||
50% | ||||||||
1Q22 | 2Q22 | 3Q22 | 4Q22 | 1Q23 | 2Q23 | 3Q23 | 4Q23 | |
Schedule Maintenance | Refinery | Olefins | ||||||||||||||||||||||||||||||
2023 1H | 2023 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) | 7 | |||||||||||||||||||||||||||||||
planned | ||||||||||||||||||||||||||||||||
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
This document does not constitute an offer or invitation to purchase or subscribe for any securities in the Company and neither any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. Any decision to purchase securities in the offering should be made solely on the basis of the information contained in the Offering Circular
included in this document contain forward-looking statements and information relating to the Company. The Company has generally identified forward-looking statements by the use of terms such as "may", "might", "will", "expect", "intend", "plan", "estimate", "anticipate", "believe" or similar words or phrases. The Company bases these statements and financial information on its beliefs as well as its assumptions made using information currently available to it. Because these statements and financial information reflect the Company's current views concerning future events, these statements and financial information necessarily involve risks, uncertainties and assumptions. Actual future performance could differ materially from these forward-looking statements and financial information. The Company does not undertake to release the results of any revisions of forward-looking statements and financial information to reflect future events or circumstances. The Company cautions investors not to place undue reliance on these forward- looking statements. All written and oral forward-looking statements attributable to the Company or persons acting on the Company's behalf are qualified in their entirety by these cautionary statements
No part of this document may be distributed, reproduced or transmitted to any third party
Thank you
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Formosa Petrochemical Corporation published this content on 08 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 March 2024 07:14:01 UTC.
