Formosa Plastics Group reported NT$127.6 billion (US$4.01 billion) in consolidated revenue for August, marking an 8.2% year-over-year decline and a 2.2% drop from July. The decrease was attributed to fluctuating oil prices, lower plastic product quotations, and annual maintenance across several facilities. Despite these setbacks, the group’s cumulative revenue for the first eight months of 2024 exceeded NT$1 trillion (US$31.45 billion), reflecting a modest 1.5% increase compared to the same period last year.
Formosa Plastics experienced an 8.9% monthly revenue decline due to the maintenance of its Mailiao PVC and alkali plants, along with lower sales of PVC products. However, the company anticipates a turnaround in September, driven by recovering demand and the end of India’s rainy season, which should boost petrochemical sales.
