GPPC — Interim / Quarterly Report 2018

Nov 20, 2018

	established 1973 capital NT 9.27 billion revenue NT 19 billion (2018Q1-Q3) employee 375 (2018Q3)

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Disclaimer

The forward-looking statements contained in this presentation are subject to risks and uncertainties and actual results may differ materially from those expressed or implied in these forward-looking statements.

Grand Pacific Petrochemical Corporation makes no representation or warranty as to the accuracy or completeness of these forward-looking statements and nor does Grand Pacific Petrochemical Corporation undertake any obligation to update any forwardlooking statements, whether as a result of new information or future events.

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Outline

 Upstream and downstream products

 Market review and prospect

 Financial results

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Upstream and downstream products

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Sales volume(MT)

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Cogen products and hydrogen excluded

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Asian price trend - styrene

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Asian price trend - ABS

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Asian price trend – PA66

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Imp/Exp Change after China’s ADD on styrene

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Asian styrene: capacity addition

Company	Location	Capacity	Timing	Timing	Timing
			A	B	C
青島碱業	青島	500	2018	2018	2017Q4
昊源	安徽	260	2018	2018	2018
YNCC	Korea	80	2019	2019 May	-
CSPC	惠州	640	2020	2020Q1	-
中信國安	山東	200		2019End
大沽	天津	450	2020	2020-2021	-
萬華	煙台	650	2020	2021	-
浙江石化	舟山	1200	2021	2019 H2	2018
中化	泉州	450	2021	2020End	-
古雷	古雷	600	2022	2021End
浙江石化	舟山	600	2023	2022-	-
恆力	大連	450	2021	2019-2020	2018
阿貝爾二期	泰興	250	2019?	2022-
合計		6,330

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Global styrene: supply and demand

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Financial results

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Consolidated Statements of Income

				(NT$ BN)	(NT$ BN)
Period Item	FY15	FY16	FY17	9M17	9M18
Net Revenue	20,025	19,918	23,351	17,079	19,019
Cost of Rvenue	16,984	16,494	19,557	14,386	15,571
Gross Profit	3,041	3,424	3,794	2,693	3,448
grossprofit ratio	15%	17%	16%	16%	18%
OperatingExpenses	1,216	1,257	1,310	977	1,018
Income from Operations	1,825	2,167	2,484	1,716	2,430
operatingincome ratio	9%	11%	11%	10%	13%
Non-operatingIncome and Expenses	159	917	1,699	1,155	1,286
Income Before Income Tax	1,984	3,084	4,183	2,871	3,716
Income Tax Expenses	332	505	735	552	843
Net Income	1,652	2,579	3,448	2,319	2,873
net income ratio	8%	13%	15%	14%	15%
Net Income Attributable to :
-Shareholders of the Parent	1,472	2,400	3,289	2,205	2,726
-NoncontrollingInterests	180	179	159	114	147
Earningsper Share(NT$)	1.62	2.65	3.64	2.44	3.00

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Revenue structure

9M18

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Others
Media
2%
9%
Packing Materials
7%
SM
PA66 44%
11%
ABS/PS
27%
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Financial Analysis

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Period
2015 2016 2017 9M18
Item
Debt ratio (%) 18.17 16.63 16.13 14.52
Current ratio (%) 268.54 269.18 302.59 349.11
Quick ratio (%) 199.07 210.47 236.61 270.32
A/R turnover (times) 8.68 7.68 7.39 7.68
A R turnover da s 42 47 49 47
/ ( y )
Inventor turnover times 9.72 9.98 10.65 11.10
y ( )
Da s sales outstandin 37 36 34 32
y g
Return on e uit % 8.98 12.97 15.55 15.53
q y ( )
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