Tsrc Corporation · TWSE:2103
Tsrc — 1st Investor Conference 2025
20 slides from Tsrc's conference presentation, May 20, 2025
Slide 1: TSRC – Global Specialty Polymers
2025 TSRC – Global Specialty Polymers 1st Investor Conference, 20 May 2025
Slide 2: Disclaimer
Disclaimer The information presented and referred herein are based upon the information obtained internally and externally from our company. Forward-looking operational results, financial condition and business results might be different from those information expressly or impliedly presented herein
Slide 3: Agenda
AGENDA 1. Introduction • Thomas Lin, Deputy Spokesperson 2. 2024 & 1Q2025 Financial • Edward Wang, CFO Performance 3. 2025 Outlook & Business Highlights • Joseph Chai, CEO 4. Summary • Joseph Chai, CEO 5. Q&A 2025 TSRC Confidential and Proprietary P.3
Slide 4: Introduction
[1] Introduction Thomas Lin, Deputy Spokesperson
Slide 5: 2024 & 1Q2025 Financial Performance
[2] 2024 & 1Q2025 Financial Performance Edward Wang, CFO
Slide 6: 2024 Financial Highlights
2024 Financial Highlights In NT$M 2023 2024 YoY Revenue 31,427 37,209 18% Gross Profit 3,308 4,116 24% Operating Profit 948 1,377 45% Non-Operating 476 406 (15%) Income before Tax 1,424 1,783 25% Net income 680 862 27% EPS (NT$) 0.82 1.04 27% 2025 TSRC Confidential and Proprietary P.6
Slide 7: 1Q2025 Financial Results
1Q2025 Financial Results In NT$M 1Q24 4Q24 1Q25 QoQ YoY Revenue 8,745 9,589 10,377 8% 19% Gross Profit 1,052 948 1,191 26% 13% Operating Profit 416 231 493 113% 18% Non-Operating 82 (157) 150 195% 83% Income before Tax 498 73 643 776% 29% Net income 261 (77) 330 529% 26% EPS (NT$) 0.32 (0.10) 0.40 5
Slide 8: 1Q2025 Revenue by Geography
1Q2025 Revenue by Geography 10,377 9,589 8,745 887 705 1,512 923 1,170 Others 1,424 Europe Americas Asia 7,623 7,858 6,306 1Q24 4Q24 1Q25 Amount in NT$M 2025 TSRC Confidential and Proprietary P.8
Slide 9: 1Q2025 Major Equity Investment
1Q2025 Major Equity Investment ISRPL ARL-TSRC 175 177 111 7 8 4 ISRPL ARL-TSRC Amount in NT$M Note: numbers shown as TSRC’s investment income of each investee. 2025 TSRC Confidential and Proprietary P.9
Slide 10: Industry Dynamics remains favorable
Industry Dynamics remains favorable US$/MT NR-BD price gap (RHS) ICIS BD CFR NEA (LHS) 2,000 1,200 900 1,600 600 1,200 300 800 0 400 (300) 0 (600) Jan-18 Jul-18 Jan-19 Jan-20 Jul-19 Jul-20 Jan-21 Jul-21 Jan-22 Jul-22 Jan-23 Jul-23 Jan-24 Jul-24 Jan-25 2025 TSRC Confidential and Proprietary P.10
Slide 11: 2025 Outlook & Business Highlights
[3] 2025 Outlook & Business Highlights Joseph Chai, CEO
Slide 12: Solid Business Performance in 1Q2025
Solid Business Performance in 1Q2025 ♦ Responded to market changes with agility and drove volume and profit growth ♦ Key factors that supported the increase profitability include: ➢ Smooth new Shenhua plant ramp-up ➢ Stable auto tire demand, especially in mainland China ➢ Healthy NR-BD price spread
Slide 13: Expect Tough Headwinds in the Next Quarter
Expect Tough Headwinds in the Next Quarter ♦ US reciprocal tariff policy disrupts chemical supply chain ➢ Increasingly fragmented global trade flow ➢ Rising volatility in product demand and key monomers sourcing & pricing ➢ Dampened purchase sentiment ♦ No quick solution to oversupply and price comp
Slide 14: Actions Taken to Navigate through Market Uncertainties
Actions Taken to Navigate through Market Uncertainties ♦ Optimize product portfolios and reposition supply chain to enhance business resilience amid changing trade flow ♦ Increase SPP engagement frequency in response to market volatilities ♦ Maintain prudent expenditure discipline ♦ Accelerate devel
Slide 15: Key Project Updates
Key Project Updates ♦ On-track commercialization of Shenhua and ARL-TSRC new plants despite increased market competitiveness ♦ Continue to proceed with SSBR new line investment ♦ Accelerate new grade commercialization and development at global tire brands 2025 TSRC Confidential and Proprietary P.15
Slide 16: ESG Initiatives Updates
ESG Initiatives Updates ♦ Demonstrated annual 2.5% carbon reduction since 2021 ♦ Need to overcome challenges to meet both business growth and carbon emission reduction target ♦ External ESG accolades ➢ Ecovadis Platinum Medal (TSM), Silver Medal (TSRC UBE) ➢ Obtained ISCC+ certification (TSM) ➢ TWSE
Slide 17: Summary
[4] Summary Joseph Chai, CEO
Slide 18: Summary
Summary 01 02 03 ♦ Delivered year- ♦ Subdued market ♦ Expedite key over-year business outlook with projects and improvement in uncertainties and green innovation 2024, despite disruptions. to support future tough industry Actions taken to growth challenges. ensure business momentum. resilience. 2025
Slide 19: Q&A
Q&A 2025 TSRC Confidential and Proprietary P.19
Slide 20: Thank You
TSRC CORPORATION