Formosa Chemicals & Fibre : Declare of FCFC’s Consolidated Profit and Loss in 2021.

Close

Today's Information

Provided by: FORMOSA CHEMICALS & FIBRE CORPORATION
SEQ_NO	4	Date of announcement	2022/01/10	Time of announcement	14:07:15
Subject	Declare of FCFC��s Consolidated Profit and Loss in 2021.
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 CHEMICALS & FIBRE CORPORATION 3.Relationship to the Company (please enter ��head office�� or ��subsidiaries��):head office 4.Reciprocal shareholding ratios:N/A 5.Cause of occurrence:Declare of FCFC��s Consolidated Profit and Loss in 2021. 6.Countermeasures:none 7.Any other matters that need to be specified: I.Comparison of consolidated profit and loss in the 4th quarter and the 3rd quarter of 2021 1.Operating revenue increased 3.53 billion in the 4th quarter, with a growth rate of 3.9%. Among the inease, sales volume accounted for 2.94 billion (83%) and the price accounted for the rest 0.59 billion(17%). 2.Aspect of sales volume (1)FCFC�G+0.8 billion Plant PTA, PIA and PP had undergone their overhauls in the 3rd quarter, resuming to standard capacity in the 4th, thus contributing 1.8 billion than the 3rd. An increase of 0.43 billion happened to SM because of the reconciliation strategy. On the other hand, PS and ABS decreased by 0.93 billion because of ample supply and shipment issue, affecting 0.93 billion. Also, plant Aro-3��s overhaul affected the sales of PX and raffinate by 0.71 billion. (2)FIPC and FICC�G Resuming to the standard production capacity in the 4th quarter from the overhaul, generating 0.8 and 0.77 billion respectively. (3)FTC�G+0.75 billion With the restriction lifted, Filament fabric is much favored during A/W. Also, recovering purchasing power and the Vietnamese plant situation were also the positive factors making the revenue higher. 3.Impact of selling price variance�G Quotations of PTA, ABS, PP and PC were affected because of the weak downstream demand and competitors�� new production line. Other than that, most of the petrochemical and plactic products performed better as a result of the rising quotations of crude oil and raw materials. II.Consolidated profit before income tax in the 4th quarter of 2021 was 5.18 billion, decreasing by 6.51 billion compared with the last quarter. Reasons are listed as follows�G 1.Operating margin decreased 2.09 billion�G Production cost went up as a result of the increasing quotation of oil and coal. Additionally, clients tend to purchase in a conservative way because of the uncertainty resulting from the ��three on site�� and the ��dual control�� policy. Thus, some of the products price and the processing spread went down, affecting the quarterly revenue. 2.Consolidated non-operating profit decreased by 5.96 billion (1)Income from the cash dividends decreased by 3.1 billion since the dividends of FPC, NYPC and NTC were recognized last quarter. (2)Investment profit of Equity Method decreased by 1.03 billion. Among it, FPCC and MLPC accounted for 0.71 and 0.23 billion respectively. 3.Net profit after income tax attributed to owners of the parent in the 4th quarter was 3.54 billion. Profit Attributable to Common Shareholders of the Parent was NTD 0.6, NTD 1.03 less than the 3nd quarter. II.Comparison of consolidated profit and loss in 2021 and in 2020�G 1.Operating revenue increased 112.5 billion in 2021 than in 2020, with a growth rate of 44.4%. Among the increase, the sales amount accounted for 20 billion (18%) and the price raise supported the rest 92.5 billion (82%). 1.Aspect of sales volume (1)FCFC�G+12.03 billion Market demand recovered from the COVID pandemic, increasing the sales of aroma, SM, phenol, PTA and ABS by 1.31 billion. On the contrary, sales of PP, PS and acetone decreased by 0.11 billion as a result of the overhaul and the less demand for COVID prevention. (2)FCNB�G+7.77 billion Expansion of plant phenol and PIA had come to a completion, generating 9.31 billion. However, electricity generator set decreased by 1.52 billion as the rising quotation of coal and the dual control policy. (3)FIPC�G+0.44 billion Market demand recovered thanks to the control of COVID. (4)FICC�GScheduled overhaul in 2021 resulted in a decrease of 0.32 billion. 2.Aspect of Selling Price Quotations were much affected last year by the pandemic. This year, climate anomalies and the facility failure made the supply tigher, bringing the quotations of petro products high. 2.Consolidated before income tax in 2021 was 50.12 billion, increasing by 25.36 billion (102.4%) on a YOY basis. 1.Operating margin increased 19.14 billion In 2021, the average economy recovered from the measures of COVID prevention in 2020 such as country lockdowns. However, the order of the international trade and supply chain were disrupted, driving the market demand conservative after a soar-up. Despite that, operating revenue still performed better than it in 2020. 2.Non-operating net income increased by 6.22 billion (1)Investment profit of Equity Method increased by 8.74 billion. FPCC +10.19 billion�FMLPC -1.6 billion (2)Income from the cash dividends decreased by 2 billion. FPC�G-0.97 billion�FFPCC�G-0.84 billion�FAPI�G-0.1 billion (3)Profit on assets selling decreased by 0.69 billion as TSC sold its land plant at 0.82 billion in 2020. 3.Net profit after income tax attributable to owners of the parent in 2021 was 38.34 billion. Profit attributed to common shareholders of the parent was NTD 6.55, NTD 3.21 more than 2020.