Explanation of FCFC's Consolidated Operating
Revenue in May 2022
Date of events
2022/06/08
To which item it meets
paragraph 51
Statement
1.Date of occurrence of the event:2022/06/08
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:Explanation of FCFC's Consolidated Operating
Revenue in May 2022
6.Countermeasures:none
7.Any other matters that need to be specified:
I.Comparison of consolidated operating revenue in May 2022 and
in April 2022.
1.Consolidated operating revenue in May amounted 34.9 billion, decreasing
by 1.52 billion on a monthly basis, with a growth rate of -4.2%.
Among the difference, the sales amount decreased by 1.63 billion,
while the price raise supported 0.11 billion instead.
2.Aspect of sales volume
(1)FCFC:-0.35 billion
Affected by the lockdown in some of the China cities, APS and PP decreased
by 1.07 billion. Plant PTA in Mailiao adjusted its sales for stock reserve
in response to the overhaul in June, affecting 0.46 billion.
On the other hand, phenol and acetone resumed to the regular performance
from the overhaul, increasing 0.95 billion. SM increased its export,
generating 0.21 billion
(2)FCNB:-1.16 billion
Overhaul of PTA resulted in a decrease of 2.17 billion. Yet, ABS resumed
from its overhaul, increasing 0.62 billion. Other than that,
reconciliation of the raffinate increased the sales by 0.34 billion.
(3)FTC:-0.25 billion
Sales were affected as the shipment of A/W orders and the active wear drew
to a close.
3.Aspect of Selling Price:
As the conflict between Russia and Ukraine continues, oil quotations
fluctuates in a relatively high position. Price of PTA and PIA rose
accordingly. Request of SM, phenol and plastic products went weak owing to
the lock down
II.Comparison of consolidated operating revenue of May in 2022 and in 2021
1.Consolidated operating revenue in May 2022 increased by 8.6% on a YOY
basis Among the difference, the sales amount decreased by 0.56 billion
yet the selling price supported 3.32 billion instead.
2.Aspect of sales volume
(1)FCFC:-0.75 billion
Affected by the lockdown and the new productivity, demand for PIA, ABS
and PP went weak, decreasing by 1.55 billion. Other than that,
overhaul of ARO-1, exports of PX and BZ and the raffinate jointly
decreased by 0.38 billion. As for SM, 1.2 billion of increase is
confirmed due to the overhaul last year.
(2)FTC:-0.27 billion
Clients requests for tire cord dropped as a result of the inflation and
the decreasing production of automobiles.
(3)FCNB:+0.33 billion
The launch of new PIA line increased by 1.51 billion. PS and ABS resumed
to its standard performance from the overhaul last year, increasing
0.39 billion. On the other hand, PTA decreased by 1.58 billion due to
the overhaul.
3.Impact of selling price variance:
Oil quotation is higher compared with last year due to the economy
recovery and the Russia invasion, pushing the petrochemical and spinning
products even higher. Yet, price of acetone, ABS, PC and acetic acid
dropped as a result of the lockdown and adequate market supply.
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Formosa Chemicals & Fibre Corporation published this content on 08 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 June 2022 06:11:08 UTC.
Formosa Chemicals & Fibre Corp is a Taiwan-based company principally engaged in the manufacture and sale of chemical products. The main products of the Company include petrochemical plastic raw materials, synthetic fiber products and common fluid products. Its petrochemical plastic raw material products include benzene, paraxylene (PX), o-xylene (OX), toluene, styrene monomer (SM), phenol, acetone, pure terephthalic acid (PTA), polystyrene (PS), polypropylene (PP) and polycarbonate resin (PC), among others. Its synthetic fiber products include mirabilite, synthetic fiber yarn, cotton yarn, blended yarn, staple fiber cloth, long-fiber cloth and nylon yarn, among others. Its common fluid products include electricity, filtered water, chilled water, soft water, pure water and steam. The Company operates businesses in Mainland China, Asia, the Middle East, America and Europe, among others.