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Provided by: Formosa Plastics Corporation
SEQ_NO 1 Date of announcement 2022/02/14 Time of announcement 13:33:43
Subject 
 Announcement of FPC consolidated results
in January 2022
Date of events 2022/02/14 To which item it meets paragraph 51
Statement 
1.Date of occurrence of the event:2022/02/14
2.Company name:Formosa Plastics Corporation
3.Relationship to the Company (please enter "head office" or
  "subsidiaries"):head office
4.Reciprocal shareholding ratios:N/A
5.Cause of occurrence: Announcement of FPC consolidated results
in January 2022
6.Countermeasures:None
7.Any other matters that need to be specified:
1. Compared consolidated sales in January 2022 and December 2021:
The consolidated sales of NTD 23.93bn in January 2022, decreased by
NTD 1.26bn and was down 5% from December 2021. The reasons were as
follows:
(1). The sales spread of price decreased by NTD 1.58bn.
The price of each main product in January 2022 was down 7~21% from
December 2021, due to (1) the part of downstream producers stopped
running early because of Chinese New Year vacation, and (2) The
off-seasonal demand in winter made high inventory pressure of Asian
peers, which pulled down the price of petrochemical products.
(2). The sales spread of volume increased by NTD 0.32bn.
The sales volume of EVA, AE and caustic soda in January 2022
increased 23,000 MT from December 2021, because the part of EVA,
AE and caustic soda orders was postponed to deliver in January 2022
to correspond with customers' shipping.
2. Compared consolidated sales in January 2022 and January 2021:
The consolidated sales of NTD 23.93bn in January 2022, which reached
the historical high at the same period, increased by NTD 4.72bn and
was up 24.6% from January 2021 mainly due to the increased sales
spread of price. The reasons were as follows:
The price of each product in January 2022 was up 5~132% from January
2021, given (1) as more people vaccinated and global economic
recovered gradually, the prices of energy and commodities sharply
raised, (2) China peers cut production due to energy policy, (3) the
intense situation between Russia and Ukraine. The average price of
Dubai crude oil, ethylene and propylene was up by 52.4%, 16%, 17.5%
respectively from January 2021 to January 2022.

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Formosa Plastics Corporation published this content on 14 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2022 05:51:02 UTC.