Reported 6 months ago
Formosa Plastics' four major subsidiaries all reported increased revenues for May, totaling NT$136.654 billion, a 12.6% increase from the previous month and a 13% year-on-year growth. The company expressed optimism due to warming demand, scheduled maintenance of 14 light cracking plants in Asia, recent issues in maritime shipping leading to concerns of material shortages, and increased purchasing intentions boosting the petrochemical market. The company foresees steady revenues for June, with Q2 outperforming Q1; Nan Ya and Formosa Plastics expect stable revenues for June and Q2. As oil prices trend downwards, Formosa Plastics remains hopeful for Q3 as building inventory levels and travel demand may rise during summer, aided by OPEC+ maintaining production discipline. The companies actively expanding into Southeast Asia markets such as Vietnam, Thailand, Myanmar, Cambodia, Bangladesh, and India, foreseeing sales growth of over 10% for the second half of the year.
Source: YAHOO