All data are based on the daily closing price as of October 9, 2024

Formosa Plastics Sees 8.2% Revenue Decline in August Amid Weak Demand and Maintenance

August revenue falls to NT$127.6 billion as oil price volatility and plant maintenance impact performance
Taiwan
f 1301.TW OM 60 Mid and Small Cap 2000
Share this on

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.

 

Share this on
Jakota Newsletter

Stay ahead in the JAKOTA stock markets with our roundup of vital insights

Icon scroll to top