Usi Corporation · TWSE:1304
Usi — Investor Conference 2024
45 slides from Usi's conference presentation, Nov 29, 2024
Slide 1: Investor Conference
2024 11/29 Investor Conference 0
Slide 2: Disclaimer
Disclaimer This presentation includes the Company’s current information. Any development 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 investment
Slide 3: Presentation Outline
Presentation Outline 01 General Information of USI Business Review and Outlook 02 Finance Information 03 Q&A 2
Slide 4: Presentation Outline
Presentation Outline 01 General Information of USI Business Review and Outlook 02 Finance Information 03 Q&A 3
Slide 5: General Information of USI
USI Reported By: Mark Wu (Vice President of Sales & Marketing Dept.) General Information of USI 4
Slide 6: Established Date May 26, 1965 Capital
Established Date May 26, 1965 Capital NT$ 11.9 Billions No. of Employees 434 (2024.10.31) Parent Company Only：NT$11.5 Billions Revenue (2023) Consolidated：NT$52.3 Billions Revenue (2024 Q3) Consolidated：NT$12.9 Billions Revenue (2024 Q1~Q3) Consolidated：NT$38.4 Billions 5
Slide 7: High Pressure LDPE/EVA Plant
High Pressure LDPE/EVA Plant Production • 4 sets of High-Pressure Facility Autoclave Production Lines Annual Capacity • LDPE/EVA Total at 150KMT • Low Density Polyethylene Resins Main (Injection / Film Grades) Products • Ethylene Vinyl Acetate Copolymer Resins (Foaming / HMA / PV Grades) 6
Slide 8: Low Pressure HDPE/LLDPE Plant
Low Pressure HDPE/LLDPE Plant Production • 1 set of Gas Phase Production Line Facility Annual Capacity • HDPE/LLDPE Total at 130KMT • High Density Polyethylene Resins Main (Injection / Yarn / Rotation Grades) Products • Linear Low Density Polyethylene Resins (Blown Film / Casting Grades) 7
Slide 9: Business Review and Outlook
USI Reported By: Mark Wu (Vice President of Sales & Marketing Dept.) Business Review and Outlook 8
Slide 10: Crude Oil / Ethylene Monomer Review
Crude Oil / Ethylene Monomer Review International geopolitics and wars caused oil prices to rise continuously in the first quarter. In Q2 and Q3, geopolitical issues in the Middle East were alleviated. OPEC+ extended production cuts, which was inconsistent with market expectations, and oil prices
Slide 11: EVA Market Review
EVA Market Review EVA 14%~20% CFR CMP EVA 22%~30% CFR NEA Ethylene CFR NEA VAM 3900 2022 2023 2024 3700 3500 3300 3100 2900 2700 USD/MT 2500 2300 2100 1900 1700 1500 1300 1100 900 700 500 Source from: ICIS 10
Slide 12: PE Market Review
PE Market Review HD YARN CFR FEA HD INJ CFR FEA Ethylene NEA 1500 1400 2022 2023 2024 1300 1200 1100 USD/MT 1000 900 800 700 600 500 Source 資料來源: from: Platts Platts 11
Slide 13: Business Review of 2021 to 2024
Business Review of 2021 to 2024 300 271 250 224 231 200 151 150 100 50 0 2021 2022 2023 Q1~Q3 2024 UNIT: KMT 12
Slide 14: Sales Comparison Q1~Q3 2023 and 2024
Sales Comparison Q1~Q3 2023 and 2024 Q1~Q3 2023 Q1~Q3 2024 Difference Total 177 151 -26 Quantity Unit：KMT 13
Slide 15: EVA Operation Review: Q1~Q3 2024
EVA Operation Review: Q1~Q3 2024 ● In Q1, EVA prices rose slightly from the low end. In Q2, due to poor PV demand and the lack of demand for foaming, wires and cables, and other applications, the market fell. In Q3, EVA prices were still weak: demand was sluggish, supply exceeded demand, market pric
Slide 16: LDPE/HDPE/LLDPE Operation Review: Q1~Q3 2024
LDPE/HDPE/LLDPE Operation Review: Q1~Q3 2024 ● The global economic recovery was slow, inflation affected end market consumption, and the overall downstream demand for PE was plain. ● HDPE: Orders from domestic customers were stable, and the sales in the first three quarters were equivalent to the sa
Slide 17: Global PV Demand
Global PV Demand 2010~2024 Global PV Installations (Est.) 440 420 400 430 380 360 390 390 340 320 300 280 260 240 220 200 230 (GW) 180 160 140 170 120 139 100 115 80 98 97 60 75 40 56 20 41 45 0 18 28 30 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Source from : IHS、Tre
Slide 18: China New PV Installations in Q1~Q3 2024
China New PV Installations in Q1~Q3 2024 1~2 3 4 5 6 7 8 9 10 11 12 2023 2024 2024 Source from: CPIA The National Energy Administration of China announced that the newly installed PV capacity in Q1~Q3 was 160.88 GW, a year-on-year increase of 24.8%. It is calculated that the new PV capacity in Septe
Slide 19: China EVA Demand
China EVA Demand Self-sufficiency Year Production Imp. Exp. Demand Rate (%) 2020 741 1,177 54 1,864 40% 2021 1,007 1,117 71 2,053 49% 2022 1,676 1,202 117 2,761 61% 2023 2,154 1,391 206 3,339 65% Q1~Q3 2024 1,787 725 182 2,330 77% (Q1~Q3 2023) 1,566 1,053 148 2,472 63% Unit: KMT 3500 3000 2500 2000
Slide 20: The Proportion of EVA Applications in China
The Proportion of EVA Applications in China Agri- Apparent Year PV Film Foam W&C HMA Coating Other cultural Demand 2016 21 40 16 9 8 2 4 1,303 2017 27 35 16.5 7.5 8 2 4 1,526 2018 30.5 34 17 7 8 1 2.5 1,561 2019 32 32 17 7 7 2 3 1,771 2020 34 30 17 8 7 1 4 1,864 2021 37 28 17 7 7 1 3 2,053 2022 47 2
Slide 21: USI's EVA Application Proportion
USI’s EVA Application Proportion FOAM 19% FOAM PV 36% 31% Sales in 2023 : Sales in Q1~Q3 141,166MT PV 53% 2024 : 85,324 MT HOT MELT 28% HOT MELT 33% 20
Slide 22: EVA Capacity in China
EVA Capacity in China Company Annual Capacity Start Year Product Applications BEIJING DONGFANG PC 40 1995 Film/packaging BASF-YPC COMPANY LIMITED 200 2005 Film/foam(containing high VA)/W&C BEIJING HUA MEI POLYMER COMPANY LIMITED 60 2010 HMA SINOPEC YANSHAN COMPANY 200 2011 Film/foam/lamination LEVIM
Slide 23: Business Outlook for Q4
Business Outlook for Q4 Crude oil： From the perspective of supply and demand, oil price is expected to be weak. Yet geopolitical risks still affect market sentiment, the average Brent price is expected to fluctuate in the range of US$70~80/barrel. Ethylene： A new cracker plant starts up for its
Slide 24: Business Outlook for Q4
Business Outlook for Q4 PE & EVA： 1. EVA makers such as Tianli and Baofeng in China, Lotte in South Korea, and TPI in Thailand switched to LDPE production due to better spreads, which reduced the supply of EVA. On the other hand, foaming has entered the traditional peak season while PV demand has
Slide 25: Water x food Air
Water x food Air U will see A convenient and clean life.
Slide 26: Cyclic Block Copolymer ( CBC )
Cyclic Block Copolymer ( CBC ) CBC is a family of novel cyclic block copolymers , which are fully hydrogenated polymers based on styrene and conjugated dienes via anionic polymerization. This advanced material has remarkable thermal stability, excellent UV durability, extra-high transparency, low wa
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Slide 28: Bacteria in filtered water after 3 months of use
"After 3 months of use, the amount of aquatic bacterial in the filtered water is more than 5 times that of tap water .“ said by Professor Hsin-Hsin Tung,Institute of Environmental Engineering, National Taiwan University
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Slide 30: CBC Fresnel Light Condensing
CBC Fresnel Light Condensing CBC Fresnel Lens UVC LED High UVC transmittance High UVC durability 120° Parallel light, longer disinfection distance
Slide 31: CBC Fresnel Light Condensing
CBC Fresnel Light Condensing Distance:15cm Distance:30cm Distance:100cm 15 times longer distance than other products.
Slide 32: Taiwan: Obtain utility model patent
Taiwan: EU: U.S.A : Obtain utility Obtain design Application is in model patent patent process
Slide 33: Aqua Genie Self-Clean Water Bottle
USil Ge Ge Aqua Genie BIR Self-Clean Water ¥ : Bottle
Slide 34: There are as many as 2.7 million germs in this place
Every Square Inches Key boards: 3,300 Germs Office Desk: 21,000 Germs 1.Water Dispenser outlet 2.7 Million Germs/ Every Square Inches Health The place with the most germs in the office There are as many as 2.7 million germs in this place Resource：Dr. Ooi Hean Facebook Post
Slide 35: Water you've drunk would expand bacteria times more
Did you know that water as you've drunk would expand 900 times more than at the start?
Slide 36: UVC 99.9% Antimicrobial Effective Rate, 60-Second Smart Sterilization
UVC 99.9% Antimicrobial Effective Rate 60-Second Smart Sterilization Sterilize in normal temperature No need to heat Automatically active in 2 hours (Will Active 3 times After 1st Activated to Keep Water Clean) Auto Power-Off at 30° Tilt
Slide 37: Aqua Genie-SGS Antimicrobial Effectiveness Testing
Aqua Genie-SGS Antimicrobial Effectiveness Testing
Slide 38: Aqua Genie Patented by Taiwan/China/Japan
Aqua Genie Patented by Taiwan/China/Japan
Slide 39: More to come
Egg Sterilizer More to come Pacifier Steriliz
Slide 40: Presentation Outline
Presentation Outline General Information of USI 01 Business Review and Outlook 02 Finance Information 03 Q&A 39
Slide 41: Finance Information
USI Reported By: Amy Kuo (Accounting Manager) Finance Information 40
Slide 42: Sales, Cost of goods sold, Gross profit
(In millions of NTD, except per share data) 2024 2023 2023 2022 2021 2020 1/1~9/30 1/1~9/30 YoY% FY FY FY FY (Consolidated) (Consolidated) (Consolidated) (Consolidated) (Consolidated) (Consolidated) Sales 38,388 39,435 -2.7% 52,265 66,437 71,756 50,201 Cost of goods sold 36,449 34,779 4.8% 46,658 55
Slide 43: USI Corporation Financial Ratio Analysis-Consolidated
USI Corporation Financial Ratio Analysis-Consolidated 2024 2023 2022 2021 2020 1/1~9/30 FY FY FY FY Operating income margin(%) (3) 3 9 18 14 Net income margin(%) (8) (4) (0) 14 11 Debt ratio(%) 38 36 34 34 37 Current ratio(%) 197 249 293 227 225 Quick ratio(%) 137 184 215 172 185 Accounts receivable
Slide 44: Presentation Outline
Presentation Outline General Information of USI 01 Business Review and Outlook 02 Finance Information 03 Q&A 43
Slide 45: Thanks for attending and kind support
Thanks for attending and kind support Company Website：https://www.usife.com.tw 44