Asia Polymer Corporation · TWSE:1308
Asia Polymer — Asia Polymer Corporation Investor Conference 2025
31 slides from Asia Polymer's conference presentation, March 2025
Slide 1: Asia Polymer Corporation Investor Conference
2025 03/25 Asia Polymer Corporation Investor Conference
Slide 2: Disclaimer
Disclaimer This presentation includes the Company’s current information and any developments or adjustments thereof will be published according to laws, regulations or rulings. The Company is not obligated to update or revise this presentation. The information in this presentation is not for investm
Slide 3: Contents
Contents 01 Brief Introduction to APC 02 Business Review and Outlook 03 Finance Information 04 Q&A 2
Slide 4: Contents
Contents 01 Brief Introduction to APC 02 Business Review and Outlook 03 Finance Information 04 Q&A 3
Slide 5: Brief Introduction to APC
APC Reported By: Kevin Huang (Sales Director) Brief Introduction to APC Brief Introduction to APC 4
Slide 6: Established Date, Capital, Employees and Revenue
Established Date Jan.25,1977 Capital NT $5,940M No. of Employees 231 (2025.3.01) Individual：NT $5,820M Revenue(2024) Consolidated：NT $6,030M 5
Slide 7: LDPE/EVA Plant
LDPE/EVA Plant Production Facility Annual Capacity Main Products • 4 sets of High- • Total at 150KMT • Low Density Pressure Polyethylene Resin autoclave (Lamination/Injection /Film Grades) production lines • Ethylene-Vinyl Acetate Copolymer Resin(High-Elastic Foaming/Extrusion Coating/PV/W&C Grades)
Slide 8: Differential/Tailor-made Products
Differential/Tailor-made Products APC’s products are mainly used in High-end applications mid to high end applications. semiconductor packaging, low-gel protective film, medical uses Mid-range applications food packaging, electronic packaging, cosmetic packaging, hygiene products 44,885 45,142 White
Slide 9: APC EVA major application
APC EVA major application EVA Solar Grade EVA Coating Grade Shoe’s material Wire & Cable 8
Slide 10: Contents
Contents 01 Brief Introduction to APC 02 Business Review and Outlook 03 Finance Information 04 Q&A 9
Slide 11: Business Review and Outlook
APC Reported By: Kevin Huang (Sales Director) Business Review and Outlook Business Review and Outlook 10
Slide 12: Crude Oil / Ethylene Monomer Review
Crude Oil / Ethylene Monomer Review ⚫ International geopolitical conflicts, and OPEC+ production cuts made oil prices continue to rise in the first quarter of 2024. The prices began to decline in April, but remained on high level above US$70/barrel for the whole year. Capacity expansion of China pet
Slide 13: EVA Prices Review
EVA Prices Review 2022 2023 2024 Source from: ICIS 12
Slide 14: PE Price Review
PE Price Review LDPE NEA Ethylene NEA 1800 1700 2022 2023 2024 2025 1600 1500 1400 1300 1200 1100 1000 900 800 USD/MT 700 600 500 400 300 Source from: ICIS 13
Slide 15: LDPE Market Review
LDPE Market Review ● Domestic sales are stable. Sales increase in 2024 was mainly for export. ● In recent years, new production capacity of lamination grade LDPE is very limited. In Q2~Q3 2024, Mainland China LDPE lamination grade was in short supply, and the price was higher than that of foam grade
Slide 16: EVA Market Review
EVA Market Review ● New production capacity put into production, Mainland China economic growth slowed down, and PV demand growth was not as expected. The supply and demand situation of EVA is gradually changing. ● EVA price rebounded in Q1, 2024, and turned into a decline again after April. By mid-
Slide 17: EVA Market Review
EVA Market Review ● The price competition in general-grade EVA market in Mainland China were severe, especially for PV grades, foam grades, and wire and cable grades. ● The production technology of lamination grade EVA is high. Chinese makers could only supply low-end products with small quantities
Slide 18: Sales of Lami-grade EVA
Sales of Lami-grade EVA Unit:MT/Yr. 37,979 thermal laminating pre-coated thermal pouches lamination film 29,951 25,269 23,747 21,551 19,681 12,729 3,191 2017 2018 2019 2020 2021 2022 2023 2024 17
Slide 19: Sales of PV Grade EVA
Sales of PV Grade EVA Unit:MT/Yr. PV Film 29,366 27,288 26,518 26,185 25,526 24,667 20,896 6,067 2017 2018 2019 2020 2021 2022 2023 2024 18
Slide 20: APC's EVA Application Proportion
APC’s EVA Application Proportion PV FOAM(H) PV 7% 20% 21% FOAM(H) 27% Sales in 2023 : Sales in 2024 : 96,482MT 87,356 MT EVA FOAM(L) EVA Lami. 28% Lami. FOAM(L) 43% 31% 23% 19
Slide 21: Sales Review: 2022 to 2024
Sales Review：2022 to 2024 LDPE/EVA Sales Volume Comparison Sales Volume 2022 2023 2024 (KMT) LDPE 32 33 45 EVA 98 96 87 Total 130 129 132 20
Slide 22: Sales Volume in Recent Six Years
Sales Volume in Recent Six Years 180,000 160,000 143,940 140,000 132,931 132,463 130,415 128,980 132,498 120,000 100,000 100,647 88,046 87,356 96,288 98,373 80,000 96,482 60,000 40,000 20,000 43,293 44,885 45,142 36,175 32,042 32,498 0 2019 2020 2021 2022 2023 2024 LDPE EVA Total 21
Slide 23: Business Outlook for Q1 2025
Business Outlook for Q1 2025 ⚫ Crude oil: The trade conflict has prolonged, bringing hidden worries to global economic growth, the Russia-Ukraine war has shown the dawn of a ceasefire, OPEC+ plans to increase production in April, and crude oil has gradually slipped after reaching a high point in mid
Slide 24: Business Outlook for Q1 2025
Business Outlook for Q1 2025 ● In H1, the demand for PV is booming, and the inventory of most petrochemical plants is still low. So far in Q1, EVA price remains rebounding. In the second half of the year, we still need to pay close attention to the EVA demand situation and the progress of new produc
Slide 25: Contents
Contents 01 Brief Introduction to APC 02 Business Review and Outlook 03 Finance Information 04 Q&A 24
Slide 26: Finance Information
APC Reported By: David Chang (Accounting Manager) Finance Information Finance Information 2 5
Slide 27: Consolidated Statements of Income
Consolidated Statements of Income (In millions of NTD, except per share data) 2024 2024 Increase 2023 2022 2021 2020 FY (Parent FY (Decrease) FY FY FY FY (Consolidated) (Consolidated) (Consolidated) (Consolidated) (Consolidated) Company Only) Sales 5,817 6,031 (686) 6,717 9,815 9,566 5,704 Cost of g
Slide 28: Financial Ratio Analysis-Consolidated
Financial Ratio Analysis-Consolidated 2024 2023 2022 2021 2020 FY FY FY FY FY Operating income(loss) margin(%) (2) 14 30 35 16 Net income(loss) margin(%) (12) 2 15 32 19 Debt ratio(%) 16 11 13 19 28 Current ratio(%) 299 324 244 211 200 Quick ratio(%) 225 243 199 173 171 Accounts receivable turnover
Slide 29: EPS vs DPS
6.00 5.00 4.00 3.00 2.00 1.00 0.00 (1.00) (2.00) 2018 2019 EPS vs DPS —@®— Cash dividend per share 2020 2021 2022 —®-— EPS 2023 2024 2025 28
Slide 30: Contents
Contents 01 Brief Introduction to APC 02 Business Review and Outlook 03 Finance Information 04 Q&A 29
Slide 31: Thanks for attending and kind support!
Thanks for attending and kind support! Company Website：http://www.apc.com.tw 30
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