Asia Polymer Corporation · TWSE:1308
Asia Polymer — Q1 2025 Earnings Presentation
29 slides from Asia Polymer's earnings presentation, May 20, 2025
Slide 1: Asia Polymer Corporation Investor Conference
2025 05/20 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 Financial Information 04 Q&A 2
Slide 4: Contents
Contents 01 Brief Introduction to APC 02 Business Review and Outlook 03 Financial 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 Jan.25,1977 Capital
Established Date Jan.25,1977 Capital NT $5,940M No. of Employees 231 (2025.4.30) 2025Q1 2024Q1 Revenue Consolidated：NT $1,534M NT$1,561 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: APC LDPE applications
APC LDPE applications APC’s LDPE products are mainly mid to high-end applications of used in taylor made LDPE in TAIWAN products and high semiconductor packaging, low-gel protective end applications. film, medical uses food packaging, electronic packaging, cosmetic packaging, hygiene products 11,125
Slide 9: APC EVA major applications
APC EVA major applications 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 Financial 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 ⚫ Crude oil: Trade tensions continued to escalate, raising concerns about global economic growth. OPEC+ increased production in April and May. After reaching a peak in mid-January, crude oil prices gradually declined. ⚫ Ethylene: Spot prices were strong in January
Slide 13: EVA Prices Review
EVA Prices Review EVA 14%~20% CFR CMP EVA 22%~30% CFR NEA Ethylene CFR NEA VAM Lami-EVA CIF CMP 3900 2023 2024 2025 3700 3500 3300 3100 2900 2700 USD/MT 2500 2300 2100 1900 1700 1500 1300 1100 900 700 500 12 Source from: ICIS
Slide 14: LDPE Price Review
LDPE Price Review LDPE NEA Ethylene NEA 1800 1700 2023 2024 2025 1600 1500 1400 1300 1200 1100 1000 900 800 USD/MT 700 600 500 400 300 Source from: platts 13
Slide 15: EVA Operation Review: Q1 2025
EVA Operation Review: Q1 2025 ● One of China major coating grade LDPE producers is reportedly planning to suspend production after maintenance in Q2. Traders took the opportunity to speculate, pushing the price of imported coating grade LDPE in China up to over US$1,450/MT, surpassing that of other
Slide 16: EVA Operation Review: Q1 2025
EVA Operation Review: Q1 2025 ● The EVA market in Q1 2025 largely continued the rebound trend seen at the end of last year. In Q4 2024, the market had been overly pessimistic about the outlook, leading to low inventory levels among petrochemical plants, traders, and PV film manufacturers. Although Q
Slide 17: Sales Review：2023Q1 to 2025Q1
Sales Review：2023Q1 to 2025Q1 LDPE/EVA Sales Volume Comparison Sales Volume 2023Q1 2024Q1 2025Q1 (KMT) LDPE 7 8 11 EVA 21 26 23 Total 28 34 34 16
Slide 18: Sales of Lami-grade EVA
Sales of Lami-grade EVA Unit:MT. thermal laminating pre-coated thermal 10,124 pouches lamination film 9,588 5,564 4,883 3,858 2,848 2020Q1 2021Q1 2022Q1 2023Q1 2024Q1 2025Q1 17
Slide 19: Sales of PV Grade EVA
Sales of PV Grade EVA Unit:MT. 6,227 6,102 PV Film 5,780 5,545 4,719 3,108 2020Q1 2021Q1 2022Q1 2023Q1 2024Q1 2025Q1 18
Slide 20: APC’s EVA Application Proportion
APC’s EVA Application Proportion PV FOAM(H) PV 11% FOAM(H) 19% 21% 27% Sales in 2024 Q1: Sales in 2025Q1: EVA FOAM(L) 26,202MT 15% 22,555 MT Lami. 37% FOAM(L) EVA 25% Lami. 45% 19
Slide 21: Sales Volume in Recent Five Years
Sales Volume in Recent Five Years 40,000 34,148 33,680 35,000 29,239 30,316 29,305 30,000 25,000 22,555 26,202 20,000 21,311 23,616 22,175 15,000 10,000 5,000 11,125 7,928 6,700 7,130 7,946 0 2021Q1 2022Q1 2023Q1 2024Q1 2025Q1 LDPE EVA Total 20
Slide 22: Business Outlook for Q2 2025
Business Outlook for Q2 2025 ● Crude oil： Reciprocal tariffs have been suspended for 90 days, and the situation of the China-US trade conflict seems to have improved. The recent decline in crude oil prices has slowed down. Yet OPEC+ will accelerate the pace of production increases in May and June, a
Slide 23: Business Outlook for Q2 2025
Business Outlook for Q2 2025 PE & EVA: ● The impact of the US reciprocal tariffs and market uncertainty has led downstream buyers to adopt a wait-and-see attitude. As a result, export demand weakened in early April, and orders declined. ● The photovoltaic installation rush is coming to an end. In Ch
Slide 24: Contents
Contents 01 Brief Introduction to APC 02 Business Review and Outlook 03 Financial Information 04 Q&A 23
Slide 25: Financial Information
APC Reported By: David Chang (Accounting Manager) Financial Information (For the Three Months Ended March 31, 2025) 2 4
Slide 26: Consolidated Statements of Income
Consolidated Statements of Income (In millions of NTD, except per share data) 2025 2024 2024 2023 2022 2021 Increase 1/1~3/31 1/1~3/31 (Decrease) FY FY FY FY (Consolidated) (Consolidated) (Consolidated) (Consolidated) (Consolidated) (Consolidated) Sales 1,534 1,561 (27) 6,031 6,717 9,815 9,566 Cost
Slide 27: Financial Ratio Analysis-Consolidated
Financial Ratio Analysis-Consolidated 2025 2024 2023 2022 2021 1/1~3/3 FY FY FY FY Operating income(loss) margin(%) 2 (2) 14 30 35 Net income(loss) margin(%) (15) (12) 2 15 32 Debt ratio(%) 16 16 11 13 19 Current ratio(%) 279 299 324 244 211 Quick ratio(%) 203 225 243 199 173 Accounts receivable tur
Slide 28: Contents
Contents 01 Brief Introduction to APC 02 Business Review and Outlook 03 Financial Information 04 Q&A 27
Slide 29: Thanks for attending and kind support!
Thanks for attending and kind support! Company Website：http://www.apc.com.tw 28